Finastra, a global software applications provider, has integrated AI-based ESG (environmental, social and governance) scoring into its working capital solution, Trade Innovation. This advancement, in integration with CoriolisESG by TradeSun, will enable users to manage their trade and supply chain finance with automated insights into ESG scoring to better understand and monitor the sustainability of trade.

Iain MacLennan, Head of Trade and Supply Chain Finance at Finastra, commented, "Sustainability is a growing imperative in the world of trade and with the continued emergence and development of regulations in this space, organisations 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.”

This newly announced solution seeks to strengthen business intelligence and resiliency by measuring fundamental data against recognised global frameworks such as the UN Sustainable Development Goals and the EU Taxonomy. The information gathered provides insight into international business activity, risk assessment, regulatory compliance, geopolitical risk, and due diligence. Furthermore, the solution contributes to an in-depth analysis of supply chains.

Nigel Hook, Founder and CEO at TradeSun, shared his enthusiasm for the partnership, stating, "We are 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 collaboration includes the full TradeSun Intelligence platform, comprising OCR, document checking, real-time compliance, and global markets analytics. This unique digitisation product encapsulates ESG assessment and is offered in accordance with the ICC Principles for Sustainable Trade.

Ines Zucchino, SVP of Strategy and ESG at Finastra, expressed satisfaction with the outcome, saying, "It is 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."

Finastra's integration of AI-based ESG scoring into its Trade Innovation solution marks a significant step forward in promoting sustainability and responsible finance within global trade. By providing automated insights into ESG performance, Finastra enables organisations to better understand and manage their impact, aligning with regulatory mandates and international frameworks. This collaboration not only strengthens business intelligence and risk management but also demonstrates Finastra's commitment to driving positive change in the financial services sector, fostering a more sustainable and resilient future for all stakeholders.