Trade Finance Goes Green with Finastra, TradeSun
Finastra has added AI-powered ESG (environmental, social and governance) scoring to its Trade Innovation platform.
This partnership with TradeSun allows users to automatically assess the environmental and social impact of their trade activities.
Iain MacLennan, Head of Trade and Supply Chain Finance at Finastra said, “Sustainability is a growing imperative in the world of trade and with the continued emergence and development of regulations in this space, organizations must ensure they can measure their impact to help meet the worldwide ESG mandates and understand where risk can be better managed. That vision is now possible for users of our Trade Innovation technology. Delivering this out-of-the-box integration aligns closely with our company purpose to unlock the power of finance for everyone and our mantra of ‘doing well by doing good’. We look forward to helping our customers gain valuable insights into their ESG data for trade.”
The solution measures trade data against global frameworks like the UN Sustainable Development Goals. This provides insights into international business activities, compliance, and supply chains.
Nigel Hook, Founder and CEO at TradeSun said, “We’re really pleased to be a fintech partner for Finastra. This integration of TradeSun’s CoriolisESG technology into Finastra’s user base provides more businesses with economical solutions that help advance their wider sustainability goals. Together we are accelerating sustainable global trade flows, with intelligent and scalable technology to measure impact and to help ensure a better future for all.”
The partnership includes TradeSun's full suite of trade finance tools, including document processing, compliance checks, and market analysis. This unique product integrates ESG assessment following the ICC Principles for Sustainable Trade.
Ines Zucchino, SVP of Strategy and ESG at Finastra said, “It’s wonderful to see this solution come together to deliver our customers tools which not only help drive efficiencies in the lending space, but really have the potential to make an impact when it comes to sustainability. This integration demonstrates our commitment to helping the financial services sector on its open finance and sustainability journeys.”
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Source: Finastra
