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Fenergo Partners with BENEFIT to Create National eKYC Utility in Bahrain

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Fenergo, a leading provider of digital Client Lifecycle Management (CLM) solutions for financial institutions, today announces that it will be working with Bahrain’s Electronic Network for Financial Transactions (BENEFIT) in designing and implementing the world’s first national Know Your Customer (KYC) utility that incorporates blockchain technology. The utility platform will support sectors including retail and corporate banking, asset management as well as insurance and telecommunications in the future. Fenergo deployed the first phase of the eKYC implementation project in just four weeks.

Financial institutions that subscribe to BENEFIT can instantly complete KYC and Anti-Money Laundering (AML) compliance procedures when onboarding new individual and corporate customers through the Fenergo-powered eKYC hub and rules engine utilising blockchain. The centralisation of customer data removes the need for duplicate requests for information, enabling financial institutions to onboard new customers and products swiftly and seamlessly. The elimination of manual processes reduces costs and improves operational efficiencies, ultimately optimising customer experiences.

The Fenergo API-first solution enables financial institutions to verify customer identity via biometric identity and verification (ID&V) technology which links to Bahrain national identity card data before instantly connecting to the eKYC hub. This will prompt Fenergo’s rules engine to determine the required KYC and AML data and documentation for customer due diligence (CDD) as subscribed by Central Bank of Bahrain. Once the customer is quickly and successfully onboarded, Fenergo will write data attestations to the blockchain for reuse by other financial institutions within the Bahrain ecosystem.

On this occasion, BENEFIT’s Chief Executive Officer Abdulwahed AlJanahi said, “BENEFIT is committed to supporting financial institutions on their journey to digital transformation. By partnering with disruptive technology companies like Fenergo, we can deliver on our promise to help financial firms streamline and simplify the collection and management of customer data, improving customer experiences and minimising fraud.”

Marc Murphy, CEO, Fenergo: “Regulatory mandated KYC utilities represent a massive opportunity to enable significant efficiency, improve customer experience and help drive regulatory certainty. In a digital economy, where open banking and customer choice are at the forefront, making the KYC process digital is a huge enabler for any digital transformation initiative. At Fenergo, we are honoured to partner with BENEFIT and the Bahrain regulator to deliver the KYC technology of the future.”

Fenergo is developing the cloud-based utility as part of an initiative mandated by the Central Bank of Bahrain (CBB) to enable financial institutions to seamlessly perform CDD checks for enhanced customer experiences and regulatory certainty. The initiative is part of a wider Government scheme, Economic Vision 2030, to improve the Kingdom’s economy.

 

SOURCE Fenergo

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Arçelik tops DHP Household Durables industry in S&P Global Corporate Sustainability Assessment with highest ESG score

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Arçelik’s continuous commitment to sustainability has resulted in the company achieving the highest score for the fifth year in a row

ISTANBUL, Nov. 28, 2023 /PRNewswire/ — Arçelik A.Ş. (ARCLK: IST, “Arçelik”), the global leading consumer durables and electronics manufacturer, scored 86/100 (Score date: 22/09/23) in the 2023 S&P Global Corporate Sustainability Assessment (CSA), which evaluates the world’s largest companies and assesses their sustainability performance and environmental, social, and governance (ESG) efforts.

The company achieved the highest score out of 46 companies assessed in the DHP Household Durables Industry. This announcement highlights Arçelik’s continuous commitment to a sustainable future and places the company once again as the benchmark brand in the manufacturing industry.

The recognition follows the 2023 United Nations Global Assembly Conference (UNGA), where the company has joined the Forward Faster initiative to support acceleration of 2030 goals and made significant commitments in three key areas: Climate Action, Water Action, and Sustainable Finance.

Arçelik has also pledged its commitment to the Science Based Targets Initiative, aiming to become a net-zero company as of 2050 in line with the Science Based Targets Initiative (SBTi) Corporate Net Zero Standard. This means that Arçelik will take a more ambitious step and update its near-term approved science-based targets and set a long-term target according to 1.5-degree scenario.

These net-zero targets will lead Arçelik to reduce its global Scope 1- 2 and Scope 3 emissions by 90% by 2050, using 2022 base year. This will be realised through innovative actions in across its entire value chain. Investing in qualified nature-based and/or technology-based carbon removal projects will address the 10% residual emissions in line with the SBTi Corporate Net Zero Standard.

Commenting on Arçelik’s consistent inclusion in the Dow Jones Sustainability Indices, Hakan Bulgurlu said, “It is a privilege to have achieved the highest score on the DJSI for the fifth consecutive year – this recognition is a significant accolade for our business. Arçelik’s efforts towards building a more sustainable future, not only for our company but also for our customers, are consistently evolving. Sustainability is deeply ingrained in every aspect of Arçelik’s value chain. Our actions are aimed at creating a positive domino effect; it’s about encouraging consumers to make more sustainable purchasing decisions and to incorporate habitual changes into their daily lives. Together, these changes will help shape the future of our planet, society, and health for the better. I am excited about what lies ahead, fueled by our company’s successes to-date, with an everlasting passion to deliver even more positive changes for the future, including fulfilling our science-based targets to reduce our Scope 1, 2, and 3 GHG emissions.”

With its impressive ESG score and ongoing commitment to sustainability, Arçelik continues to inspire other companies to prioritize environmental responsibility, social impact, and good governance practices. By setting high standards and leading by example, Arçelik is making a significant contribution towards building a more sustainable future for all.

Notes to editors

For more information on Arçelik’s sustainability performance, please refer to its Sustainability Report [2022]

ABOUT S&P DOW JONES INDICES AND DOW JONES SUSTAINABILITY INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

The DJSI are float-adjusted market capitalization weighted indices that measure the performance of companies selected using environmental, social and governance (ESG) criteria. The DJSI, including the Dow Jones Sustainability World Index (DJSI World), were launched in 1999 as the pioneering series of global sustainability benchmarks available in the market. The index family is comprised of global, regional and country benchmarks. Arçelik has featured in the DJSI since 2017.

The full results and list of DJSI constituents are available at https://www.spglobal.com/esg/csa/     

For more information about the DJSI methodology, please visit: https://www.spglobal.com/spdji   

ABOUT ARÇELİK

With over 40,000 employees throughout the world, Arçelik’s global operations include subsidiaries in 53 countries, and 31 production facilities in 9 countries and 14 brands owned or used with a limited license (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance, Voltas Beko, Singer*, Hitachi*). Arçelik’s 30 R&D and Design Centers & Offices across the globe are home to over 2,300 researchers and hold up to 3,000 international registered patent applications to date. Arçelik’s vision is ‘Respecting the World, Respected Worldwide.’

  • Licensee limited to certain jurisdictions.

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HIVENTURES: HUNGARIAN AGRICULTURE ON THE RISE – KEEP AN EYE ON THESE COMPANIES

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BUDAPEST, Hungary, Nov. 28, 2023 /PRNewswire/ — Central and Eastern European member states play a significant part in the agricultural production and economic performance of the European Union. While the EU’s agricultural policy focuses on supporting the agriculture of the region’s the member states, food safety is becoming a more urgent issue due to climate and geopolitical changes, which encourages the founding of developments within the sector. In recent years, Hungary has seen a significant rise in capital investments in agriculture, in line with current trends. Following numerous successful investments, agro-technological companies producing for export are poised for continued growth. Hiventures, a member of the MFB Group, offers the right financing environment and opportunities for development and expansion.

UBM Holding Nyrt.: As the leading feed industry, grain, and protein crop trader in the region, the company group successfully increased its capital on the Budapest Stock Exchange by approximately 13.5 million euros last year through Hiventures’ corporate investment. This capital infusion has solidified the financial stability of the company group, enabling them to expand not only within Hungary but also into the Romanian and Slovak markets, which will further boost their export market share.

The group has established a presence in Austria, Romania, Slovakia, and Serbia, generating almost half of their sales revenue from export activities. Leveraging high-quality raw materials and collaborating with foreign partners, they produce 14,000 tons of premix annually, in high demand.

Civita Food Kft.: Likewise, the Civita group, which went public this summer with support from Hiventures, aims to enhance its exports and to develop of innovative products.  The company, specializing in corn processing, flour, semolina, corn oil, and gluten-free pasta, sees significant potential in the gluten-free foods market due to efficiency advancements.

The group has established a presence in numerous countries in Central and Eastern Europe with its range of milling products and gluten-free pasta. Through innovative developments, their new milling technology allows for the complete removal of the corn germ from the corn grain, making it suitable for pressing.

Szatmári „Rege” Konzervgyár Kft.: Szatmári Konzervgyár Kft. is a key supplier in the EU’s market for fruit and vegetables, preserves and pickles that are processed without preservatives and are sourced from the Eastern Hungarian region, which is particularly important for Hungarian agriculture. More than 70 percent of the factory’s products are sold outside the borders, with pickled cucumbers being a standout product. The raw materials for production are sourced from domestic suppliers, covering approximately 3,000 hectares, with particular emphasis on controlled organic farming required for organic products.

EKO Konzervipari Kft.: The company, also operating in the eastern part of Hungary, has been producing canned products for more than 50 years. Utilizing modern sealing (vacuum) and heat treatment (sterilization, pasteurization) technologies, they produce preservative-free foods, including green peas, sweet corn, canned beans, and various pickled products. Thanks to their reliable and well-established logistics system covering both eastern and western operations, the company achieves an export rate of around 70%. Following a successful financial restructuring supported by Hiventures, EKO has recently entered joint management and ownership with Szatmári Konzervgyár, providing an additional guarantee for quality production and the continued development of both companies.

Due to Hiventures’ reliable and predictable operations, coupled with their educational initiatives, capital investment is gaining popularity not only in the agriculture sector but also among medium and large companies across various industries. Aligned with efforts for economic development, the capital fund manager has contributed to the development of nearly 40 Hungarian companies by disbursing around 100 million euros over the past three years.

 

 

 

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PAAMC HK Wins ESG Investing Award for Three Consecutive Years

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HONG KONG, Nov. 28, 2023 /PRNewswire/ — Ping An of China Asset Management (Hong Kong) Company Limited (“PAAMC HK” or “Company“), the offshore asset management arm of the Ping An Insurance (Group) Company of China, Ltd. (“Ping An“), was bestowed the ESG Leading Enterprises Awards 2023, recognized in the category of “ESG Investing”. This marks the third consecutive year that the Company has received this prestigious recognition.

As a pioneer embodying Ping An’s environmental, social, and governance (ESG) strategy in our overseas business, PAAMC HK adheres firmly to its commitment to embedding ESG principles at the core of its investment philosophy and practices. In 2019, the Company launched the first China-focused green bond fund in the world, offering global investors with much-needed access to the second-largest green bond market in the world*.

“We are delighted and honored to receive the ESG Investing Award for the third year in a row. This repeat recognition underscores our steadfast commitment to ESG investing and our continuous efforts to create long-term value for our investors while making a positive impact on society and the environment,” said Mr. Albert Wang, Head of Capital Markets and CIO of PAAMC HK. “The three-year winning streak also demonstrates our team’s ability to adapt to evolving market trends and regulatory landscapes.”

Jointly presented by the Chinese Edition of Bloomberg Businessweek and Deloitte, this year’s ESG Leading Enterprise Awards announced and honored the winners on November 23. By recognizing Hong Kong-listed enterprises and asset management companies with outstanding ESG performance, the campaign aims at encouraging enterprises to strive for excellence in ESG practices, ultimately to foster a sustainable business culture with positive impact on the environment and society.

Following a rigorous judging procedure advised by Deloitte that ensures credibility and objectivity, a panel of professional judges assessed the submissions based on participating enterprises’ ESG governance mechanisms, goals and performance, as well as environmental and social initiatives.

* Source: Climate Bonds Initiative, as of 31 December, 2022.

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