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Software firm BillionLives Business Initiatives has come up with a cutting-edge fintech product named ‘ImpactGrows’ and launched it at Temenos Exchange which is a marketplace that brings open banking innovations.
ESG Risk Assessment SaaS
The ImpactGrows ESG Risk Assessment SaaS by the Kochi-based company, which is registered under the Kerala Startup Mission enables high-level business benefits by facilitating banks with SSLPs (sustainability-linked loan products) while providing corporate-lending products to clients. Released in Vienna, the product enables banks to create various SLLPs and provides offers to clients over a self-service portal.
The new product benefits banks, as they need to assess the ESG (environmental, social and governance) risk of their business banking clients over and above operational risks.
By joining Temenos Exchange, BillionLives can sell its solution across a banking audience of 3,000 clients in 150 countries, says Temenos Director (Innovation and Ecosystems) Martin Bailey. “Temenos Exchange acts as an accelerator for fintechs and software developers, helping them develop, validate and monetize new banking solutions”, he revealed. “Collectively, we serve the banking needs of 1.2 billion people worldwide.”
BillionLives Director (Technology) Sanjay Varma said the availability of ImpactGrows on Temenos Exchange will help speed up the net zero commitment of the banking software company’s clients. “We look forward to leveraging the power of the Temenos platform to help us achieve our business goals,” he added.
Founded in January 2015, BillionLives provides technology solutions that make it easy and streamlined for corporates and banks to manage their sustainability value chain. Banks are being called upon to play a key role in promoting sustainable practices across the globe, given their unique nature of operations. Banks are required to consider ESG credentials of their clients and its impact on their own sustainability commitments before taking lending decisions and to accelerate the net zero journey of clients by providing transition finance to projects aimed at reducing carbon emissions, through SLLPs.
These require banks to track, monitor and validate a number of data points. The ImpactGrows software is designed to manage these requirements seamlessly for banks.
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