CRIF named in ESGFinTech100 for driving sustainability in financial services
Bologna, 6 November 2024
CRIF, a global company specialising in credit bureau and business information systems, analytics, outsourcing and processing services, as well as advanced digital and open banking solutions, has been featured in the ESGFinTech100 for driving sustainability in financial services through its combined solutions: ESG Analytics and Synesgy.
The announcement follows the launch of CRIF’s Banking on Banks report, looking at the importance of ESG credentials for financial service providers. The report sets out key insights for providers to help them better align their services with their existing and prospective customers’ values in a world where commitments to the environment, sustainability and good governance are vital.
CRIF’s ESG Analytics is helping drive innovation in sustainability and empowers banks, insurers and corporates to gain a comprehensive understanding of the ESG compliance of companies, customers or suppliers they engage with.
Operating across the UK, and all EU-27 countries, organisations can integrate CRIF’s automated ESG insights into their core processes to evaluate transition, physical and environmental risks, in compliance with regulatory frameworks. These insights are derived from over 140 propriety key indicators, sourced from both public and private data.
The solution works via API or batch processing, starting from a simple input (VAT number or company/building address) to then provide a synthetic ESG score, along with granular environmental, social and governance indicators. There is no need to involve the company itself.
ESG Analytics solution complements Synesgy, which is as a stand-alone platform for the ESG self-assessment of companies and their supply chains, from SMEs to corporates. It enables companies to collect and manage ESG data at a granular level through an online questionnaire and is based on national and international sustainability standards (SDGs, ESRS, GRI), also certified by the CRIF Rating Agency (CRA).
Synesgy’s two primary use-cases include providing customers with a detailed ESG score, a certificate of completion and insights to address ESG issues, as well as addressing and monitoring their supply chain, including the company carbon footprint and environmental risks on their assets.
Increasing transparency about a company’s operations and ESG commitment is essential for building trust. As demonstrated in CRIF’s recent ESG report, consumers are more likely than ever to choose a provider that is open about how it operates and the values it aims to adhere to.
By acting in these key areas, financial institutions can better meet the shifting expectations of their customers and the growing demand for ethical products, all while boosting trust and fostering stronger relationships with current and new customers alike.
To support firms in navigating the growing demand for ESG-focused technology, the ESGFinTech100 identifies the top 100 tech innovators that every financial institution should know as they develop their ESG strategies.
A panel of industry experts and analysts meticulously reviewed over 500 ESG tech companies to pinpoint the leaders in the field. FinTech Global provided comprehensive data for the panel, which selected companies based on their innovative technology solutions addressing a significant industry challenge, as well as their contributions to ESG imperatives and sustainability improvements for clients.
KEY INSIGHTS FROM CRIF LEADERS ON THE ESGFINTECH100 ACHIEVEMENT
Simone Rampichini, Senior Director of Synesgy at CRIF, shared his thoughts on the significance of this recognition:
"Global ESG challenges require a transformative vision and an integrated response that embraces all aspects of business. Companies are facing increasing pressure to align with ESG standards and meet the expectations of a growing customer base that prioritizes ethical and sustainable values. Through the Synesgy platform, we help our clients analyze and monitor the ESG impact of their supply chains, enabling them to navigate a world increasingly focused on social and environmental responsibility."
Giorgio Costantino, Executive Director of Global Transformation Services at CRIF, emphasized the broader impact of this achievement:
"The financial services industry is undergoing a seismic shift, where sustainability is no longer a choice, but an imperative. CRIF is at the forefront of helping businesses, financial institutions, and investors adopt responsible operating models. Our Advanced Analytics solutions and the Synesgy platform are key to enabling financial institutions to embrace more transparent and sustainable practices. CRIF’s inclusion on the ESGFinTech100 list highlights the company’s ongoing commitment to providing solutions that drive both sustainability and innovation across the financial services industry."
