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ALVEO ANNOUNCES NEW ESG DATA MANAGEMENT CAPABILITY TO HELP MEET SFDR REQUIREMENTS

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Alveo, a leading financial data management solutions provider, announces new environmental, social and governance (ESG) data management functionality. The new functionality includes an extension of Alveo’s standard industry data model and UI functionality that helps clients understand data quality, data lineage and divergence between third party ratings.

Driven by regulation such as the EU’s Sustainable Finance Disclosure Regulation (SFDR), the data model now incorporates the data fields required to address the SFDR’s indicators applicable to investments in investee companies, sovereigns and supranationals, and real estate assets. (Tables 1,2 and 3 in the Regulatory Technical Standards [RTS]).

Alveo’s business rules allow for completing missing data points based on peer group analysis, converting reporting bases and units of measurement and proxying information based on historical records.

Alveo has also extended its standard library of off-the-shelf connectors with financial data feeds. Alveo’s Ops360 user experience includes dashboards showing the sourcing, processing and completion status of data requirements as well as insight into data quality metrics and complete lineage to show the provenance of reported data fields. Clients can also use Alveo to integrate multiple sources of ESG data and derive analytics, for example showing the divergence between third party ratings or the creation of clients’ own proprietary ratings.

“ESG is the biggest data management requirement to hit the buyside for some time”, said Mark Hepsworth, CEO Alveo. “We see clients requiring access to multiple ESG data sources and increasing volumes of data. At the same time clients want to manipulate this data and make their own decisions about it and how they present it to their clients.”

“Alveo’s multisource approach to data management is well suited to address ESG data management requirements”, said Neil Sandle, Head of Product Management, Alveo. “With wide dispersion in third party ESG ratings and the need for granular reporting against the SFDR’s PAIs, firms need to combine different sources with their own expertise. ESG data is essentially reference data which we have been helping clients manage for many years. In addition, Alveo’s targeted data sourcing and advanced data derivation and distribution capabilities make it the ideal solution to help firms address new ESG requirements “, Sandle concludes.

 

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Tata Motors partners with IndusInd Bank to offer exclusive Electric Vehicle Dealer Financing

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Key Highlights:  

  • One-of-its kind Electric Vehicle Inventory Financing program for Tata Motors’ dealers 
  • Limits extended towards EVs will be over and above regular dealer finance limits for Internal Combustion Engines (ICE) 
  • Attractive special pricing  
  • Additional limit to cater in peak seasons, can be extended 2 times in a year 

In its effort towards increasing EV adoption in the country, Tata Motors, India’s leading automotive manufacturer, today announced that it has joined hands with IndusInd Bank to offer an exclusive Electric Vehicle Dealer Financing solution to its authorized passenger EV dealers. Under this scheme, IndusInd Bank will provide additional inventory funding with attractive pricing to authorized passenger EV dealers of Tata Motors. This additional inventory funding would be over and above the ICE finance limit of the dealers. Repayment tenure will range from 60 to 75 days. Furthermore, IndusInd Bank will also offer additional limit to cater to high demand phases, which will be available to dealers 2 times in a year.

The MoU for this partnership was signed by Mr. Aasif Malbari, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. and Mr. Sanjeev Anand, Head – Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank Ltd.

Commenting on the rollout of this offer, Mr. Aasif Malbari, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. said“As we move along towards our aim of electrification and green mobility, we are ecstatic to partner with IndusInd Bank to assist our authorized electric passenger vehicle dealer partners with an exclusive financing program. Our dealer network is one of our core support pillars and through their constant efforts we have been able to ride the electrification wave in India. We are positive that through this tie-up, we will make EVs more accessible and the EV buying process, a seamless and a memorable experience for our customers.” 

Speaking of this partnership, Mr. Sanjeev Anand, Head – Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank Ltd., said, “As a bank with sustainability at our core, we are extremely delighted to partner with Tata Motors, one of India’s leading automotive brands, to offer an exclusive electric vehicle dealer financing program for authorized passenger EV dealers of Tata Motors. We are proud to partner with the segment leader in the journey toward a sustainable future. Through this tie-up, we are also looking forward to expanding our base into new consumer segments and be a bank of choice providing solutions to meet all banking requirements of the customers.” 

Tata Motors has been pioneering the Indian automotive market with its groundbreaking efforts, and is currently leading the e-mobility wave in India with a commanding market share of 89%, with over 50,000 EVs produced till date in personal and fleet segments.

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astrantiaPay Selects SaaScada to Enrich Swiss Landscape of Business Payments and Fill Market Gap

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Swiss financial firm, astrantiaPay, to use SaaScada’s cloud-native core banking engine to simplify cross-border payments for SMEs and facilitate international trade and services across the old and new economies

 Cloud-native core banking engine, SaaScada, today announced it was selected by astrantiaPay to launch a Swiss point of contact for international businesses looking to open and run corporate bank accounts in Switzerland. Once regulatory approval is in place, astrantiaPay will provide mission-critical payment services to sophisticated Swiss, European, and global companies.

“Promoting SMEs is high on the agenda of policymakers, but the reality is very different when dealing directly with banks. In fact, financial institutions often show little or no appetite for low-margin, labour-intensive company accounts with regular cross-border payments”, explains Lukas Wissner, CEO of astrantiaPay. “As a result, opening and maintaining corporate bank accounts can become a complex and costly procedure, posing a real challenge for Swiss and European start-ups and established businesses. This can hinder growth, and sometimes even threaten a company’s existence. Ultimately, corporate bank accounts with a foreign nexus are an underserved niche segment in the Swiss financial ecosystem which is historically dominated by asset managers and private banking.”

SaaScada is an industry-proven core banking system that unlocks trapped customer value, mitigates risk, and drives real-time data insights. It was founded from a desire to provide first-class financial services capabilities for everyone. SaaScada’s configurable product features and transactional ledgers can be connected to any payment scheme, gateway, channel, or FX provider. Its event-driven architecture will provide astrantiaPay with a real-time stream of events for each company account.

“SaaScada’s experience and deep understanding of how to execute a bank in the Swiss financial and regulatory landscape convinced us,” concludes Lukas Wissner. “Looking back, SaaScada was the right starting point on our integration journey, as its experienced team of programmers readily enable open API connections to virtually any data source and endpoint; be it software tools for onboarding, client relationship management (CRM) and transaction monitoring (TM), or accounting systems, payment aggregators and international correspondent banks. Leveraging SaaScada’s proficiency and infrastructure has helped us create an organic whole.”

“Lukas Wissner and the team at astrantiaPay have a distinct vision to make bank account opening simpler for international SMEs,” explains Nelson Wootton, Co-Founder and CEO at SaaScada. “SaaScada is delighted to support astrantiaPay in driving financial inclusivity for its customers, solving complex compliance challenges, and enabling SMEs to thrive.”

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