Fintech PR
Lufax Releases First ESG Report Highlighting Commitment to Inclusive Finance
Lufax Holding Ltd (“Lufax” or the “Company”) (NYSE: LU), a leading technology-empowered personal financial services platform in China, today released its first Environmental, Social and Governance (ESG) report. The report highlights the Company’s long-term commitment to inclusive finance, improving access to financial services for small and micro business owners, alleviating rural poverty, supporting the real economy and other societal benefits through FinTech innovations.
The report provides a look at the Company’s ESG performance for 2020 and offers a comprehensive overview of its commitment to making retail borrowing and wealth management easier, safer and more efficient. Of the many areas covered in the report, a few to highlight include achievements in corporate governance, providing inclusive financing to small and micro businesses, strengthening consumer protections, contributing to poverty alleviation and rural revitalization, and promoting green finance.
“In this report, we present our sustainability achievements and express our determination to developing long-term value,” said Guangheng Ji, Chairman of Lufax Holding. “Looking ahead, Lufax Holding will continue to stay ahead of the curve and capture emerging opportunities. With positive financial services as the starting point, we will innovate and drive forward. We will bolster inclusive finance, support the wider economy, fulfil our corporate responsibilities and create our own sustainability path.”
“Our goal is to become a best-practice benchmark for compliance and governance among overseas-listed Chinese companies,” commented Ji.
Among the many focus areas addressed in the ESG report, key highlights from the past year include the following:
Providing inclusive financing to small and micro businesses
Small and micro businesses contribute significantly to economic and social development. However, they usually face financing difficulties in their development process, especially in 2020 as the COVID-19 pandemic posed unprecedented challenges across the world. Making retail borrowing easier, safer, and more efficient is at the very core of Lufax’s mission. As part of the Company’s commitment to providing convenient financial services for small and micro business owners, in 2020 Lufax’s retail credit facilitation platform subsidiary Ping An Puhui (“Puhui”) set up a special loan channel during the pandemic to provide affected companies and individuals with loans for small and micro businesses. This initiative eased issues caused by capital shortages and limited loan channels due to the pandemic.
As of 2020, Lufax has helped more than 1.24 million small and micro businesses and provided inclusive finance for 2.76 million people. By the end of the year, Lufax’s total inclusive credit reached RMB 564.961 billion, with its balance of inclusive credit loans reaching RMB 545.149 billion.
Supporting public welfare and revitalizing the rural economy
As underscored in the ESG report, Lufax is committed to alleviating poverty by offering products and services tailored to empower vulnerable groups for long-term rural revitalization. Lufax’s subsidiary Puhui has launched innovative projects to improve access to financing for vulnerable groups in less developed regions. Initiatives on improving rural women’s employment and entrepreneurship include a program providing preferential agricultural loans to female entrepreneurs in less developed regions. Puhui also founded a special “Mom’s Sewing” program that provides sewing machines, production materials and social connections to help local women in Liangshan prefecture monetize traditional handicrafts. Puhui also focused on rural revitalization in its preferential agricultural loans project that provides diversified, affordable, and convenient loan services for rural entrepreneurs. Additionally, Puhui encourages rural revitalization through its “New Farmers for Poverty Alleviation” project, which targets younger talented farmers who want to return to and build their hometowns by starting businesses. Under this program, Puhui offers emerging agricultural technology to support sustainable development. These projects have injected new momentum into rural economic and industrial development in impoverished areas and support rural revitalization.
At present, Puhui has agricultural and rural initiatives in 13 provinces and cities, covering planting, animal husbandry, forestry, fishery and other specialties. By the end of 2020, Puhui had provided assistance funds worth more than RMB 123 million to nearly 300 rural cooperatives and entrepreneurs, directly supporting more than 800 financially distressed households.
Moreover, Lufax and the China Foundation for Poverty Alleviation (CFPA) jointly launched “Big Country, Small Towns”, a poverty alleviation plan designed to raise the industrial development level of villages and towns to improve local public welfare and income levels. By combining the customer resource advantages gathered by Lufax’s online wealth management platform with the public smart financial system, the Company has created a series of measures to alleviate poverty, improve local career prospects for younger generations, and improve environmental protection.
Alongside local industries, Lufax has identified a path for people to rise out of poverty and obtain wealth by developing an “Industry + Ecology” sustainable development model that lays a solid foundation for reducing poverty. By focusing on initiatives that provide affordable financing to rural communities instead of donations, Lufax is investing in long-term rural development and sustainability.
Developing green finance to support carbon neutrality
To support national and international carbon neutrality goals, Lufax has also set up a green finance office to drive its business in a greener way, support the development of green finance and create a low-carbon model for financial institutions. As highlighted in the ESG report, Lufax will continue to support the development of green finance by improving access to green financial products and services as well as introducing more green funds and net worth products like the ESG-related products jointly offered with “Lu Funds.” Online financial services like Lufax’s “Wealth Cloud” can offer a lower carbon footprint future for financial services. With its paperless system, “Wealth Cloud” already has saved 64.884 tons of paper compared to traditional brick and mortar systems. By continuing to replace traditional offline marketing approaches with environmentally conscious cloud-based alternatives, Lufax hopes to continue its pursuit of green finance and operations.
Enhancing financial service quality through technology
Lufax has built a thriving and professional team providing services for small and micro business owners and individuals with financing needs all over the country by combining online and offline services. In addition, the Lufax service team also helps customers improve their financial knowledge in key areas such as financing, planning, compliance of financial products, and avoiding investment traps.
Lufax has leveraged its artificial intelligence (AI) technologies to improve customer experience and protect consumer rights and interests with an AI-backed customer service platform. Customers may submit their requests and inquiries to both AI robots and human agents over the phone, online or on the mobile app. The AI customer service offers access to financial education and customer service around-the-clock and has achieved an intelligent recognition rate of 99.8% and customer satisfaction rate of 93%, helping to quickly resolve customer issues or inquiries. With the support of the AI customer service platform, Lufax customer service agents have also achieved a high level of customer satisfaction, with an answering rate of 98% and an on-the-spot settlement rate of 95%.
Lufax Holding’s ESG report is formulated in accordance with the Environmental, Social and Governance Reporting Guide of the Main Board Listing Rules of the Stock Exchange of Hong Kong Limited (“HKEx”) and the Global Reporting Initiative sustainability reporting standards (GRI Standards). To learn more about Lufax’s ESG efforts and to view the report in full, please visit https://ir.lufaxholding.com/files/doc_downloads/2021/2021-9-18-ESG.pdf
DUBLIN, March 26, 2025 /PRNewswire/ — Today, Canada Life Reinsurance announced the upcoming retirement of Gabriel Kelly, a cornerstone of the company’s success for over three decades. After 33 remarkable years, Gabriel leaves a legacy of resilience, leadership, and growth.
Mr. Kelly has served as the CEO of LLCBC in Barbados for the past 19 years, and before that was a senior officer in the company’s Dublin office. His determination and vision were instrumental in guiding the P&C business through difficult times in the early 2000s, contributing to the company’s robust catastrophe retro business and growing structured P&C portfolio. Known for his experience, candour, and humour, he will be deeply missed by colleagues and clients alike.
“We are immensely grateful for Gabriel’s unwavering commitment, dedication, and loyalty,” said Jeff Poulin, CEO of Canada Life Reinsurance. “His leadership has been a driving force behind our success, and we look forward to celebrating his extraordinary career as he approaches retirement.”
“It is an honour to have worked with Gabriel over the past 25 years. I could not be more excited about the prospects for the P&C business and team he has built,” said Derek Popkes, Global COO Reinsurance at Canada Life Reinsurance.
Succeeding Mr. Kelly as leader of the Global P&C Business Unit will be Eamon Loughnane. Mr. Loughnane brings a proven track record of excellence, having transformed the company’s Life reinsurance business in Europe. Known for his ability to deliver results, Mr. Loughnane has built a strong framework for developing, assessing, and executing new and innovative structures, positioning him as the ideal successor to Mr. Kelly.
“I couldn’t be more pleased to have Eamon take on this new role,” said Poulin. “I have every confidence he will continue to build on our success and capitalize on the opportunities we have before us.”
Mr. Kelly will continue to oversee the P&C business until March 30, 2025, and spend the following three months supporting a seamless transition.
About Canada Life Reinsurance
Canada Life Reinsurance offers a range of innovative risk and capital management solutions covering mortality, longevity, health and lapse risks for insurers, reinsurers and pension funds across the U.S., Europe, Middle East and Asia. Canada Life Reinsurance is a division of The Canada Life Assurance Company and certain of its subsidiaries and affiliates. The Canada Life Assurance Company is a subsidiary of Great-West Lifeco Inc. To learn more, visit canadalifere.com.
About Great-West Lifeco Inc.
Great-West Lifeco is a financial services holding company focused on building stronger, more inclusive and financially secure futures. We operate in Canada, the United States and Europe under the brands Canada Life, Empower and Irish Life. Together we provide wealth, retirement, workplace benefits and insurance and risk solutions to our over 40 million customer relationships. As of December 31, 2024, Great-West Lifeco’s assets under administration exceeded $3.2 trillion. Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO and is a member of the Power Corporation group of companies. To learn more, visit greatwestlifeco.com.
For more information, please contact: Jeff Poulin, CEO, Canada Life Reinsurance, jeff.poulin@canadalifere.com
View original content:https://www.prnewswire.co.uk/news-releases/canada-life-reinsurance-announces-new-leader-of-global-pc-business-unit-302412160.html
Fintech PR
GEP PLACED IN THE LEADERS QUADRANT IN GARTNER® 2025 MAGIC QUADRANT™ FOR SOURCE-TO-PAY SUITES
- Gartner recognizes GEP as a Leader based on its ‘Completeness of Vision’ and ‘Ability to Execute’
CLARK, N.J., March 26, 2025 /PRNewswire/ — GEP®, a leading provider of AI-powered procurement and supply chain software for Fortune 500 and Global 2000 enterprises worldwide, today announced that Gartner has positioned GEP SOFTWARE as a Leader in the 2025 Magic Quadrant for Source-to-Pay (S2P) Suites. This evaluation was based on specific criteria analyzing the company’s overall “Completeness of Vision” and “Ability to Execute.” Click HERE to download your complimentary copy of 2025 Gartner Magic Quadrant for S2P Suites and learn more about why GEP is named a Leader.
“We believe, Gartner recognizing us as a Leader in this year’s Magic Quadrant underscores the transformative impact of our AI solutions in simplifying our customers’ procurement and supply chain operations, since transactions are increasingly executed by non-procurement users,” said Santosh Nair, GEP’s chief product officer. “With GEP Quantum™ we are pushing the boundaries of AI-driven automation and intelligence, empowering enterprises to drive efficiency, resilience, and strategic value at scale.”
GEP SOFTWARE encompasses GEP SMART™, named the world’s best procurement software for the second year in a row, GEP NEXXE™, the next-generation cloud-native supply chain unified platform, and GEP GREEN™ to measure and advance sustainability. GEP SOFTWARE is powered by GEP QUANTUM™, the industry’s leading AI-first, low-code platform.
A Gartner Magic Quadrant is a culmination of research in a specific market, giving you a wide-angle view of the relative positions of the market’s competitors. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries, and Niche Players. The research enables businesses to align market analysis with their unique business and technology needs.
About GEP SOFTWARE™
GEP SOFTWARE provides AI-powered digital procurement and supply chain platforms that help global enterprises become more agile, resilient, competitive and profitable. With beautifully rendered interfaces and flexible workflows, GEP provides users fresh, intuitive digital workspaces that yield extraordinary levels of user adoption and meaningful gains in team and personal productivity. GEP products capitalize on machine learning and cognitive computing, advanced data and semantic technologies, IoT, mobile and cloud technologies, and are designed to incorporate continual innovations in technology. GEP’s software integrates quickly and easily with third-party and legacy systems, such as SAP, Oracle and all other major ERP and F&A software. And with superb support and service, GEP is an industry leader in customer satisfaction and loyalty. GEP’s cloud-native software and digital business platforms consistently win awards and recognition from industry analysts, research firms and media outlets, including Forrester, IDC, Procurement Leaders and Spend Matters. GEP SOFTWARE is part of Clark, NJ-based GEP — the world’s leading provider of AI-powered procurement and supply chain software, strategy and managed services. To learn more, visit www.gepsoftware.com.
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Gartner disclaimer
Gartner Magic Quadrant for Source-to-Pay Suites, 24 March 2025
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. |
Media Contact
Derek Creevey
Director, Public Relations
GEP
Phone: +1 732-382-6565
Email: derek.creevey@gep.com
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View original content:https://www.prnewswire.co.uk/news-releases/gep-placed-in-the-leaders-quadrant-in-gartner-2025-magic-quadrant-for-source-to-pay-suites-302410965.html
“Riding the Regulatory Wave” Offers Strategic Insights and Practical Tools to Help Compliance Teams Navigate Evolving Global Mandates
ROCKVILLE, Md., March 26, 2025 /PRNewswire/ — StarCompliance (“Star”), a global leader in employee compliance technology, has released an updated edition of its flagship guide, Riding the Regulatory Wave: A Guide to Navigating the Currents of Employee Compliance. This updated resource underscores Star’s ongoing commitment to supporting the global compliance community with forward-looking insights and helping organizations build resilient, tech-driven compliance programs.
Managing the unrelenting pace and increasing complexity of regulations is the top concern among compliance professionals – but many compliance teams are stretched thin and struggle to keep up. According to a recent Compliance Week and Resolver survey, nearly a third of respondents (32%) said managing regulatory change effectively was their biggest challenge.
As enterprise firms expand globally and enforcement intensifies, understanding regulatory mandates and how they evolve in every region of the world is essential to staying compliant. However, according to the 2024 Thomson Reuters report, while 77% of compliance leaders expect the regulatory burden to grow, only 34% feel well-prepared to manage the changes.
“The shifting regulatory landscape demands smarter tools, deeper insights, and ongoing education,” said Jennifer Sun, CEO at StarCompliance. “Employee compliance teams need more than awareness—they need a plan. This updated guide is both a roadmap and a toolkit to help firms stay ahead of global regulatory demands with confidence.”
The guide explores five pivotal areas:
- Diverging global crypto regulations
- Heightened enforcement of insider and shadow trading
- Expansion of individual accountability regimes
- Emerging risks tied to remote and hybrid work models
- The growing need for technology-driven compliance solutions
Star remains deeply committed to listening to the needs of the global regulatory compliance community—developing best-in-class solutions that help firms adhere to regulatory obligations, uphold industry protocols, avoid costly fines, and protect brand reputation. By combining continuous feedback from clients, regulators, and industry leaders with world-class product innovation, Star delivers technology that empowers compliance teams to act with confidence in an increasingly high-stakes environment. This free resource is available for download at [LINK].
Visit www.starcompliance.com to discover the comprehensive security and unparalleled assurance you need to build a culture of compliance today.
Media Contact
Greg.tarmin@starcompliance.com
+1 917-868-7791
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View original content:https://www.prnewswire.co.uk/news-releases/starcompliance-supports-compliance-teams-amid-rising-regulatory-demands-302411282.html
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