ESG data management solution launched by Alveo and Cognizant

Rick Steves

Alveo’s ESG solution was developed exclusively for the financial services industry and includes mappings between data sources and regulatory requirements.

Cognizant has partnered with Alveo in a move toward a comprehensive Environmental, Social and Governance (ESG) data management solution for the financial services industry.

The service allows institutions to operationalize ESG data, integrate it into business processes for better portfolio options and address the rapidly evolving regulatory environment.

Mark Hepsworth, Chief Executive Officer at Alveo, said: “ESG is one of the biggest trends impacting financial institutions, and it requires a significant investment in data and data management technology.

“We are delighted to work with Cognizant on this initiative and believe they have the experience and expertise to drive transformative ESG capabilities, elevating the way financial firms provide investment products and advice that meets the needs of investors looking for societal and capital returns.”

Craig Stanley, SVP and Business Unit Head for Cognizant Banking and Financial Services, commented: “This agreement brings to market a unique and necessary solution for financial institutions to evaluate the societal impact of investment decisions and modernise their business practices to better align with their social responsibility goals.

“Alveo’s data mastering and data distribution solutions, which support financial institutions around the world, together with Cognizant’s digital implementation capabilities will help our clients meet new ESG regulations and the expectations of today’s socially conscious consumer.”

Cognizant will provide data operations and technology services to support the implementation and management of Alveo’s ESG Data-as-a-Service (DaaS) solution.

Alveo’s ESG solution was developed exclusively for the financial services industry and includes mappings between data sources and regulatory requirements.

It provides an overview of data operations as well as the ability to query and investigate ESG data, including complete lineage. Cognizant manages the integration into clients’ application landscapes, business workflows, and reporting requirements.

ESG has become a buzzword within the trading industry as green finance moves towards becoming the only finance available in a dramatic period for societies across the globe in the countdown to the 2050 carbon emission targets.

Financial institutions are being pressured by investor demand for transparency and regulation, such as the EU’s Sustainable Finance Disclosure Regulation (SFDR), to act accordingly.

deVere Group’s CEO Nigel Green has recently commented on the current energy crisis and said the only way forward is with sustainable investing.

“It will bring into sharp focus that rather than staying with fossil fuels, the longer-term answer to this and future energy crunches is ESG (environmental, social and governance) investing.”

Read this next

Digital Assets

Crypto.com secures preliminary approval to operate in Canada

Crypto.com, one of the longest-established crypto platforms, has become the first digital asset platform to sign a Pre-‘Registration Undertaking’ with the Ontario Securities Commission (OSC) in Canada.

Retail FX

CySEC hits IC Markets One with regulatory warning

The Cyprus Securities and Exchange Commission has once again stepped up its fight against unauthorized brokers.

Uncategorized

XTAGE now offers bitcoin and ether trading to 3.6M Brazilian investors

Brazilian financial services giant XP has officially launched its crypto trading platform XTAGE, which was built on major American stock exchange Nasdaq’s trading technology.

Institutional FX

FX volume drops 7pct at CLS Group in July 2022

FX settlement specialist CLS Group today reported that the executed volumes of currency trading on its platforms were notably down in July.

Digital Assets

Web3 startup PIP integrates with Binance ecosystem

Web3 payment provider PIP has announced integration with the Binance ecosystem, which allows the firm to vastly develop and propose needed products and improvements that are worthy of competing with others chains.

Industry News

Celsius $750m insurance claims are fraud, says lawyer seeking EU crypto superfund

“It is an intentional deception in aid of a billion-dollar securities offering.”

Institutional FX

DGCX brokers authorized to provide derivatives trading and clearing services

The DFM is looking to provide multiple asset classes such as; equities, ETFs, equities’ futures, crude oil futures, etc. to meet the growing demand from its diversified base of local and international investors.

Digital Assets

EQONEX leaves “crowded crypto exchange space” amid crypto winter

“The recent extreme market volatility and declining trading volumes have added to the headwinds being felt by exchange operators. We take a realistic view that our exchange will not move the needle for us financially over the near-to-medium term.”

Digital Assets

FTX and Paradigm partner for spreads trading: lower risk, lower fees

“This structured spread trading product is the first that will enable crypto investors to utilize cash and carry trades through FTX and Paradigm.”

<