Fils: Integrating Sustainability into Payments

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by KnowESG
KnowESG_Fils: Integrating Sustainability into Payments
Image courtesy of https://cfotech.co.uk/

Nameer Khan, the Chairman of the MENA Fintech Association, has introduced a groundbreaking fintech platform called Fils.

With its headquarters in both London and Dubai, Fils is designed to empower payment companies by integrating Environmental, Social, and Corporate Governance (ESG) values into the core of their operations. Khan, along with the Fils team, has devised a digital infrastructure using API, representing an innovative approach within the fintech sector.

Going beyond the typical transaction engine, Fils provides businesses with the ability to meticulously monitor their environmental impact, diminish their carbon footprint through high-quality carbon credits, and transparently report their progress.

This platform equips global businesses with an inventive tool to seamlessly incorporate sustainability into their digital payments infrastructure, whether the transactions occur online, in-store, or on-the-go.

The launch of Fils by Khan, strategically timed just before the commencement of the COP28 UN climate conference in Dubai on November 30th, is a timely contribution to the battle against climate change. It signifies a significant advancement in the ability of fintech companies and other institutions to monitor their carbon footprint and adopt environmentally conscious practices, putting an end to greenwashing.

This distinctive B2B2C infrastructure seamlessly integrates with the digital payments system, allowing individuals and corporations to engage with impactful projects. Fils offers various industries, including financial services, hospitality, and e-commerce, a straightforward way to adhere to the fundamental principles of ESG and contribute to creating a more sustainable planet. The holistic system design incorporates advanced technology, positioning it as an enterprise-grade product.

As the leader and founder of Fils, Khan's esteemed reputation in the fintech industry has garnered considerable recognition, fostering collaboration and growth throughout the sector.

His inventive platform enhances trust and safety in carbon markets, aligning buyers with capital and suppliers with high-integrity carbon credits. This groundbreaking innovation empowers companies to transform their sustainability intentions into action at a pace and scale crucial for achieving global climate equilibrium.

Given the global climate crisis and its urgent multidimensional threats, COP28 provides a platform for Fils to showcase how companies can more effectively integrate ESG values into their daily operations. This step is especially significant given the rising demand from consumers and investors for businesses to be more transparent and socially responsible.

In addressing challenges related to ESG implementation, Fils propels businesses toward sustainable practices. The technology-first approach to sustainable action establishes an ecosystem that connects payment infrastructure, organizations, impact makers, and consumers in a novel and efficient manner.

This ingenious fintech innovation enhances the scalability of sustainability practices across diverse industries, facilitating faster, more secure, and transparent digital payments, directly supporting the 17 United Nations Sustainable Development Goals (UN SDGs).

Reflecting on the launch, Khan remarked, "Fils serves as a catalyst for the evolution of ESG enforcement and possesses the right team, technology, experience, and expertise to lead the market."

He expressed confidence, stating, "With our robust infrastructure, it marks the end of greenwashing and paves the way for greater accountability and the implementation of actionable outcomes that can enhance the sustainability of our world."

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Source: CFOtech

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