Climate fintech Fils has partnered with digital banking provider Aion to embed environmental, social, and governance (ESG) principles in finance in the Middle East. Together, they will implement the infrastructure facilitating ESG-centric services, bolstering the capacity of banks and fintechs to track and mitigate emissions through pioneering Green APIs.
The partnership forged between the London and Bahrain-based fintech enterprises positions them at the forefront of sustainable finance. Using their collective expertise, Fils and Aion aspire to set new standards in the industry by driving significant changes across the Middle East and North Africa (MENA) region. Their focus is aiding financial institutions in integrating multiple products, and customised solutions centred around sustainability and climate action into their operations.
Nameer Khan, CEO of Fils, described this partnership as a "pivotal step forward" in their mission to help banks incorporate ESG values into core financial services. He stated, "Together, we are poised to introduce innovative solutions that will empower consumers and businesses alike to make more informed, responsible financial decisions that are not only good for customers but for the planet as well."
Ashar Nazim, CEO of Aion Group, mirrored this enthusiasm about the collaboration, announcing the launch of their ground-breaking 'Green APIs' from the Aion platform. He said, "People and businesses in Saudi Arabia, Bahrain and the larger MENA region can now conveniently spend, save and transact in a manner that is beautifully aligned to their ESG values. Joining forces with Fils will accelerate this momentum."
Aion Group, founded in 2017, has been working to introduce AI-enabled instant financial solutions to banks, corporates and fintechs across KSA and GCC. The integration of Aion's existing digital banking solutions and Fils' API-first platform will pave the way for ESG scoring systems, sustainable investment platforms, and green financial products. These initiatives will enhance sustainable economic growth and social welfare and are expected to launch in the upcoming months.
Besides equipping banks with the necessary fintech infrastructure for ESG-centric services, this partnership also hopes to foster financial health throughout the Middle East. Khan added, "Our enthusiasm for this venture is amplified by our work with Aion Digital, whose steadfast commitment to climate action mirrors our own."
Since its launch five months ago, Fils has made significant strides in the ESG fintech sector. They have successfully formed alliances with financial institutions across almost every country in the MENA region, facilitating millions of customers with ESG-focused financial solutions. This rapid expansion and collaboration underline Fils's commitment to integrating ESG principles into financial services.
Fils's innovative approach to climate-positive transactions has caught the attention of prestigious organisations. Esteemed organisations such as PwC and Arabian Gulf Business Insight have listed it as one of the top climate tech companies to watch in the Middle East.