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ADYEN EXPANDS ITS GLOBAL PAYMENT OFFERING TO AFRICA

Partners with Cellulant, bringing new payment capabilities across Africa, starting with Nigeria, Kenya, Tanzania, Ghana and Uganda

Adyen (AMS: ADYEN), the payments platform of choice for many of the world’s leading companies, today announced the expansion of its payment network to a number of major African markets, further increasing its capability to offer key payment methods around the world through a partnership with Cellulant – Pan-Africa’s leading financial technology company.

Adyen’s move into Africa highlights how its single payment platform can drive growth with one integration and no extra contracts.  By partnering with Cellulant the processor of over 12% of Africa’s digital payments, Adyen will have access to 40 mobile money operators, over 600 local & international merchants and over 120 banks in Africa with just a single integration to Cellulant’s payment platform. This partnership will provide Adyen with further access to a potential addressable consumer base of over 220M who use either debit/credit card, mobile money or mobile banking payment options.

“We are happy to extend our payments capabilities to Adyen and their customers. This presents a growth opportunity for global businesses who are looking to accept all forms of payments in Africa. In the next three to five years, 5 out of the top 10 world’s fastest growing economies will be in Africa and with a population of 1.2B- this is the right time for global businesses to be looking at Africa,” said David Waithaka, Cellulant Chief Business Officer for Global Payments. “This partnership with Adyen is in line with Cellulant’s mission to connect businesses and their customers to a single payments platform that allows them to make and receive payments across the continent.”

Merchants that wish to accept payments in Africa can now access key local payment methods via Adyen such as M-Pesa, Airtel Money, Equitel, Tigo Pesa and MTN Mobile Money, as well as several online and mobile banking payment methods. This comes next to the existing gateway capabilities Adyen offers for credit card processing in countries such as South Africa, Nigeria, Morocco and Egypt.

“We are excited to extend our payment capabilities into key African markets. With Adyen, businesses can cater to local expectations and needs, wherever their customers are,” said Roelant Prins, CCO at Adyen. “Eliminating boundaries across channels and geographies will help our customers’ businesses to expand by making these markets more accessible.” Adding these key payment methods extends the capabilities of Adyen’s global payment methods offering, which already extends across North America, Europe, Latin America and Asia Pacific.

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AWS AND HSBC REACH LONG-TERM STRATEGIC CLOUD AGREEMENT

One of the world’s largest financial services organizations collaborates with AWS to deliver new products, enhance customer experiences, and drive digital transformation

Today, Amazon Web Services (AWS), an Amazon.com company, announced that HSBC Holdings plc has selected AWS as a key, long-term strategic cloud provider to drive their digital transformation and deliver new and personalised banking services. As part of a multi-year, global agreement, HSBC will make AWS technology available across the bank’s lines of business, starting with customer-facing applications and application modernisation in its Global Wealth & Personal Banking business.

Migrating to AWS will enable HSBC to drive innovation, automate key processes, and enhance operational efficiency across a range of personal financial services. AWS’s global infrastructure will enable HSBC to run and scale applications around the world with the highest availability and reliability. HSBC will use AWS’s extensive portfolio of cloud services, including compute, containers, storage, database, analytics, machine learning, and security, to develop new digital products and support security and compliance standards for millions of personal banking customers worldwide. For example, HSBC plans to use AWS serverless and analytics services, including Amazon Kinesis, to create a more personalised and customer-centric banking experience.

“Our work with AWS is an example of how HSBC continues to invest in secure and advanced technologies to make our digital banking experience even better for customers,” said Dinesh Keswani, Chief Technology Officer and CIO for Digital, HSBC. “Our ambition is to make it easy, safe, and reliable for customers to bank with us, whenever and wherever they are. HSBC’s collaboration with AWS helps us to deliver innovative banking solutions to customers at a faster rate, starting with our Wealth & Personal Banking business.”

“HSBC is continuing to expand its use of AWS to power its digital transformation and deliver innovative financial services that help customers manage, protect, and grow their wealth in new and more personalised ways,” said Frank Fallon, Vice President, Financial Services at AWS. “We look forward to our continued collaboration with HSBC as they leverage AWS’s proven capabilities, reliability, and security to drive efficiency across their business and become a more agile organisation in the cloud.”

 

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THE INVESTMENT IMPLICATIONS OF CLIMATE RISK – AN INVESTMENT MAN-AGER’S VIEW

In the final release of its three part series on climate risk, leading independent fixed income manager, Cameron Hume, looks at how attitudes to climate risk can be factored into long term investment decisions and whether those investment decisions can be used to drive the direction of travel with a global response to climate risk.

 

It is widely accepted that greenhouse gas (GHG) emissions must be decreased in order to avoid a potentially catastrophic increase in global temperature.

 

If we also accept that a global response is required to achieve a global reduction in GHGs, but that countries will act according to their own discretion, then the next piece of information we have is the recognition that companies will face different regulatory and legal regimes depending on which part of the world they operate in.

 

It is a complicated set of factors to consider and it can be tempting to put off any decision making. However, the Financial Stability Board has made it clear that action is required now.

 

The 2017 report by the Taskforce of Climate Related Financial Disclosures (TCFD), stated: “The large-scale and long-term nature of the problem makes it uniquely challenging, especially in the context of economic decision making. Accordingly, many organizations incorrectly perceive the implications of climate change to be long term and, therefore, not necessarily relevant to decisions made today.”

 

In a bid to help navigate the difficult process of taking on appropriate exposure to climate risk, the TCFD recommends the implementation of tried and tested methods that financial market participants are already familiar with. Improving disclosure is a key input to supporting better management of climate risk. The TCFD recommend considering climate risk in a framework consisting of Governance, Strategy, Risk Management and Metrics & Targets.

 

For Cameron Hume, Governance means that there is an agreed investment policy that all stakeholders are in agreement with. Strategy should therefore support development of policy and systems which incorporate informed Risk Management. Metrics & Targets must be built into portfolio measures, client reporting and disclosures to bodies such as the PRI.

 

The Cameron Hume Global Fixed Income ESG Fund, launched in 2018, follows the TCFD methodology while selecting issuers judged to manage their ESG risks better than their peers.

 

Chief Investment Officer, Guy Cameron, explains: “In Cameron Hume’s view, a key indicator of an issuer’s sustainability is the quality of its governance and risk management framework, which we know must take into account climate risk.

 

“A company that already has low emissions will be more likely to maintain low emissions in the future than a company with a stated aim of lower emissions but a bad track record of delivering on promises. Even those who reliably commit to a transition plan require access to significant funds, technology or personnel to make such a major shift in operations.

 

“Similarly, as many governments introduce legislation to reduce GHG emissions, inability to achieve the legally mandated targets may weigh on companies even as they transition.

 

“As the likelihood of governments imposing tough targets on emissions differs from country to country, we believe the best way to manage risk is to invest in the companies with the lowest current net emissions, accounting for gross emissions and mitigating factors. Such issuers will likely have the governance framework, risk management capability and strategy in place to allow them to embrace any new rules effectively.

 

“For these reasons, the Cameron Hume Global Fixed Income ESG Fund favours companies with lower net emissions currently, rather than those requiring significant changes.”

 

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