Social Finance at Scale: Creating Value for Investors

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BNY Mellon has been helping apply capital to social change for more than 225 years. It began with a loan to a fledgling government undertaking a large social experiment: The United States of America and democracy. We continue to think about the potential for investments to enable positive change today. The size and complexity of current environmental, social, and governance issues facing the global economy have motivated us to assess the market structure in order to address these issues, highlight some of the challenges to greater and more effective deployment of capital, and propose ways to address those challenges. We seek to answer: why hasn’t social finance caught on in the past and what is needed to extend and broaden the recent growth?

Spotlight

Integro Insurance Brokers

Integro Insurance Brokers is a global, multi-specialty risk management and insurance broker, as well as a health and welfare benefits consultancy. We are passionately committed to designing extraordinary risk solutions and employee benefits plans. Since 2005, we’ve pioneered a unique approach: we begin by getting to know our clients inside and out. Then we deploy our superior analytical methodologies to deliver the in-depth and timely information necessary to recommend the best program design and coverage. Clients are drawn to our refreshingly personal, intensely analytical and consistently thorough approach to managing risk and designing benefit programs. And our first-class client loyalty rate proves we don’t take our clients for granted. Without sacrificing our core values, we’ve experienced a surge in year-over-year revenue as well as unparalleled organic growth. With 45+ offices in 4 countries, we are able to respond swiftly to our clients’ needs through our 1,100+ colleagues who

OTHER ARTICLES

4 Ways CFOs Can Prepare for a Dynamic New Normal

Article | May 26, 2022

Before the pandemic, CFOs associated resilience and organizational agility with the ability to anticipate and adapt to changing consumer demands and experiences. However, the pandemic completely overhauled corporate dynamics by disrupting supply chains, changing consumer patterns, and encouraging a remote way of working. The WNS Global CFO Survey 2020 showed that many CFOs are looking for strategic ways to get ahead of these challenges. Here are four ways that CFOs can refocus to respond to the new dynamic normal. Reinforce the Supply Chain Global supply networks have been impacted by COVID-19, prompting many firms to rethink their procurement practices. The WNSsurvey indicates that over 32% of CFOs rank the continuity of theirsupply chain as one of their three most significantchallenges. The primary difficulty facing the manufacturing and consumer packaged goods (CPG) industries is maintaining supply chain stability. CFOs can engage with procurement teams to review the supplier base in order to increase supplier resilience, as well as lead their organizations in implementing new supply chain models and processes. Digital technology enables the ability to make orders automatically and spot deficiencies more rapidly. It can also enable supply chains to become more flexible. Advanced analytics-based dynamic forecasting provides data in real-time so that inventory systems can be quicker and more reactive to demands. Drive Digital-powered Decision Making The WNS survey shows thatincreasing visibility is among the toppriorities for46% of CFOs. When aggregated financials are compared with overall performance, things are different. These comparisons also don't provide the organization with an adequate picture of the organization’s action steps. In such a scenario, data analytics, artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA) offer a clear representation of information and key metrics. These cutting-edge solutions have empowered decision makers to pinpoint profitable products and services and mobilize investments into some products on the basis of solid data. Through close collaboration with data teams, CFOs may be able to achieve success in establishing and managing performance insightsfor sales, investments, marketing expenditures, and other areas of activity. Capital Management While customer demands are dipping across many industries, CFO's have a new capital challenge at hand. Theymust make sure their companies are adequately equippedto deal with the impact on income and itsimplications on investment and capital spending. Using a financial and governance framework, the information concerning receivables, payables, inventory, taxes, risks, and cash flow may all be integrated into a unified view of liquidity for CFOs. Gear Up for Disruption CFOs must help ensure their companies are adaptable enough to handle unforeseen turmoilas well as general political and economic unpredictability. Blockchain and other digital technologies establish a distributed system for frictionless departmental collaboration. Hence,the CFO and the widerorganization can build predictions and forecasts based on a single source of data. Parting Thoughts Rebuild but reimagine is what organizations and CFOs must do in order to thrive in the new dynamic normal. A stable supply chain, data-based decision-making, smart capital management, and gearing up for any future disruption is the way to go.

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CORE BANKING

A Guide to Banking in the Metaverse: Part 2

Article | July 14, 2022

In the first part of this article, we took a dive into what the metaverse is in the context of banking, what its benefits are and how it is affecting bank and consumer relationships now and in the future. Metaverse banking is undoubtedly the next phase of banking, but is it really a new concept? While the component technologies of the metaverse have been around for a while, their convergence has ushered in a new period of innovation for the banking industry. According to Accenture’s Technology Vision 2022 survey, 67% of banking executives worldwide believe that the metaverse will impact their organization positively, while 38% state it will be a transformational technology. Here are some organizations that are at the frontline of the metaverse banking revolution. KB Kookmin Bank: One of South Korea’ s most prominent financial institutions, KB Kookmin Bank, has a virtual bank that allows customers to access their financial information as well as get professional advice from a financial advisor through a VR-based interaction. BNP Paribas: The global banking group has a VR alternative for their retail banking customers. It offers a virtual reality app that enables users to access their account activity and transactions in a VR environment. Bank of America: Going one step ahead with its workforce management and training, Bank of America uses VR to train staff at its 4,300 financial centers across the country. VR environment training lets bank employees do complicated tasks in a simulated environment where they learn how to interact with customers and make sales. J.P. Morgan: J.P Morgan launched an Onyx lounge, a virtual lounge in the metaverse of Decentraland, which is itself a blockchain-based VR system. The bank enables cross-border payments, trading, foreign exchange, and financial asset creation, while Onyx facilitates blockchain wholesale transactions. HSBC: HSBC has gone ahead and bought a plot of land in the metaverse called The Sandbox, aimed at engaging sports and gaming fans. The Challenges Ahead and the Takeaway: As in social media or interactions in the real world, banks and other brands may be exposed to a variety of legal issues by using metaverses. Similar to how many didn't anticipate the potential adverse effects of personal abuse and the dissemination of "fake news," the extent of the risks may be difficult to predict at this stage. Despite the challenges, the metaverse offers an exciting possibility for banks. It could reduce the friction between modern digital platforms and offer a seamless consumer experience and a new way to move data without hindering security and data privacy. It’s a radical new technology, and financial institutions who are still considering its impact must start planning to enter the metaverse in the next couple of years.

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CORE BANKING

4 Trends Powering the Digital Banking Revolution

Article | July 20, 2022

Fueled by the emergence of new technologies and an ever-shifting workplace landscape, banking is powering a transition into a digital future for finance. The disruption in how we receive, save, and spend money is also enabling customers to expect and demand more from their banking. Service providers must now provide cutting-edge solutions to meet these demands in the era of open banking. The pursuit of innovation is producing a multitude of new trends in banking and finance. Here are five trends that are at the forefront of the banking story. 1 #1 APIs Application programming interfaces, or APIs are helping mobilize digital applications in banking like never before. Financial institutions are now able to offer swift yet secure digital banking services with a host of cutting-edge solutions through the use of APIs, all without incurring heavy costs to implement proprietary applications. 2 #2 Frictionless Transactions Being able to send and receive money seamlessly and in real-time has to be one of the most significant achievements of the digitalization of banking. It has not only upended traditional banking by reducing bottlenecks and delays, but also given a much needed thrust to the overall customer experience. The flexibility, ease, and promptness with which customers can now conduct transactions has singlehandedly given the digital banking economy a boost and laid the foundation for the creation of virtual versions of physical assets like credit cards and wallets. 3 #3 AI-powered Chatbots Artificial intelligence and machine learning in banking and finance are creating next-generation customer service solutions. The automation capabilities offered by AI chatbots and virtual assistants are helping financial institutions deliver faster and better banking experiences at a fraction of the cost. They are more capable of optimizing workforces to meet customer support demands, freeing up more resources. 4 #4 Multichannel Services Now that banking institutions are able to simplify consumer experiences, meeting customer needs across all channels has become a lot easier. Many organizations are developing an omnichannel banking experience that enables them to cater to complex demands and connect with customers at different touchpoints and stages of their consumer journeys. This enables banks to not only deliver better services but also customize their products and services, and provide a seamless, well-integrated experience. 5 To Conclude The digital wave is in full force, and banks and other financial institutions must take steps to integrate the above trends in their digitalization journey. They will need to on board a combination of automation, cloud banking, and analytics to unleash the full potential in order to keep customers coming back.

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CORE BANKING

A Guide to Banking in the Metaverse: Part 1

Article | July 13, 2022

The next generation of banking technology is here, and it’s in the metaverse. The metaverse is a virtual space that allows users to go beyond the web browser to engage in or even share experiences. The metaverse is built using technologies like virtual reality (VR), augmented reality (AR), blockchain and more. Consider being able to shop at a store, or play a game, or interact with friends, or meet with your bank representative, all in the 3D and without leaving your home. Now that the future is here, financial institutions will need to prepare to enter the metaverse and reimagine how they cater to their customers online. According to the Financial Brand, more than 47% of bankers believe that by 2030, many customers will use AR/VR as a channel for transactions. The opportunity is now. 1 Benefits of Banking in the Metaverse The most significant opportunity for banks is to capitalize on AR/VR to develop seamless consumer and employee experiences in the real-world. Some of the benefits include: 1.1 For Consumers Providing consumers with the ability to check balances, pay bills, transfer money, and do business utilizing AR and VR channels is known as metaverse banking Personalizing the banking experience by offering white glove service, tailored financial recommendations, investment planning and much more. 1.2 For Employees Providing immersive learning opportunities in the secure, replicated settings of customers or integrating their remote staff in ways that foster engagement, learning, and a sense of belonging. Equipping employees with the ability to underwrite loans using digital twins of a property instead of 2D photos and videos of the building. 2 How the Metaverse Will Impact Consumer Relationships? Banks shouldn't think ofjust enteringthe metaverse, determiningthe conditions of interaction, and capitalizing onit in order to increase trust and foster engagement. Innovative financial institutions will need to establish open communication with their consumers so that they are aware of the goals and intents of the organizational brand. The value transfers between institutions and consumers are no longer viable since the dynamic is one of collaboration and not just a vendor buyer relationship. Banks will need to reorganize how they create value if they want to build and maintain trust. 3 Moving Forward Many prominent financial institutions are riding the wave of metaverse banking. In the next part of this article, we will discuss organizations that are moving fast when it comes to adopting banking on the metaverse and how they are monetizing it.

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Spotlight

Integro Insurance Brokers

Integro Insurance Brokers is a global, multi-specialty risk management and insurance broker, as well as a health and welfare benefits consultancy. We are passionately committed to designing extraordinary risk solutions and employee benefits plans. Since 2005, we’ve pioneered a unique approach: we begin by getting to know our clients inside and out. Then we deploy our superior analytical methodologies to deliver the in-depth and timely information necessary to recommend the best program design and coverage. Clients are drawn to our refreshingly personal, intensely analytical and consistently thorough approach to managing risk and designing benefit programs. And our first-class client loyalty rate proves we don’t take our clients for granted. Without sacrificing our core values, we’ve experienced a surge in year-over-year revenue as well as unparalleled organic growth. With 45+ offices in 4 countries, we are able to respond swiftly to our clients’ needs through our 1,100+ colleagues who

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FINANCIAL MANAGEMENT

PNC ANNOUNCES ACQUISITION OF POINT OF SALE AND PAYMENTS SOLUTIONS FIRM, LINGA

PNC | September 27, 2022

The PNC Financial Services Group, Inc. today announced it has acquired Linga, a point of sale (POS) and payments solutions firm providing an industry-leading, cloud-based restaurant operating system. The acquisition of Linga and its technology will further expand PNC's digital resources and enhance the bank's capabilities to better serve its hospitality and restaurant industry clients. "This acquisition reflects our continued commitment to expanding our corporate payments capabilities, as well as investing in the solutions and tools our clients need to run their businesses more effectively, Leveraging Linga's proprietary solutions and PNC's competitive treasury management platform, we will be able to provide our restaurant and retail clients with the tools they need to keep up with ever-changing consumer expectations." - Emma Loftus, executive vice president and head of PNC Treasury Management Founded in 2004, Linga developed its restaurant operating system, Linga rOS®, which was the first all-in-one, cloud-based operating system introduced to the marketplace. Today, Linga remains an industry-leading provider across the hospitality industry, offering restaurateurs, retailers and others a way to leverage technology to streamline their operations, increase revenue and improve customer experiences. Over the years, Linga has added new functionalities to its operating system to support the needs of today's business owner, including online ordering, payments, QR code-based menus, and virtual kiosks, among others. The company currently serves clients in 48 countries and as of today, will be seamlessly integrated into PNC's existing digital solutions ecosystem. We believe this is an exciting opportunity to continue to grow our business and support our existing channel partners and clients, and to do so with a company that shares our vision of delivering innovative and high-quality solutions, As we've worked with PNC over the last several years, we've had incredible success with our combined payments capabilities and we look forward to continuing this strategic collaboration as we move forward together,said Onur Haytac, founder and CEO of Linga. Linga will retain its founder and CEO, Onur Haytac, its existing management team, and U.S. and Canada-based employees, and will continue to operate out of Naples, Fla., and Toronto. Linga will continue to manage its portfolio of channel partners and clients. About Linga Linga is an industry-leading point of sale (POS) and payments solutions company offering a cloud-based, platform-as-a-service solution for the hospitality industry, specifically restaurants. Founded in 2004, Linga was the first processor agnostic, cloud-based POS system designed specifically for the hospitality industry, and remains one of the most sophisticated restaurant operating systems on the market. The Linga cloud-based platform is completely customizable and includes user-friendly functionalities such as online ordering, payments, QR code-based menus and virtual kiosks, among others. About PNC The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

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FINANCIAL MANAGEMENT

Sun Life named a Top Workplace by the Hartford Courant for third consecutive year

Sun Life | September 26, 2022

Sun Life has been named a Top Workplace by the Hartford Courant for the third year in a row, a recognition based on employee surveys conducted by Energage, as well as information about Sun Life's employee programs and benefits. "We believe in creating a workplace that fosters support, flexibility, collaboration and camaraderie, no matter where an individual employee might be based, Our employees have continued to show commitment to and passion for their work, and it brings us pride to know they have responded favorably to surveys that result in Sun Life receiving this recognition in Hartford." -Dan Fishbein, M.D., president of Sun Life U.S. In early 2023, Sun Life's Connecticut office will be moving into downtown Hartford's "Gold Building." The new office space is currently under renovation to reflect Sun Life's Future of Work approach, which prioritizes group collaboration spaces, state-of-the-art design, and technology solutions that make virtual and in-person work more seamless and efficient – while also giving employees the choice of whether to work from an office or home each day. Sun Life will continue leveraging the talented pool of professionals in and around Hartford and other offices, as well as virtual talent throughout the U.S. During the pandemic and beyond, Sun Life has emphasized flexibility, encouraging employees to step away from their at-home workstations and prioritize work/life balance. With caring support as a core part of Sun Life's culture, employee engagement has reached its highest levels in the last few years and continues to thrive. When you support employees and prioritize their wellness, they deliver above and beyond, We believe in a workplace where everyone can be their authentic selves and truly belong. Through our Inclusion Networks, discussion forums, introspective work, and building a caring, empowered culture, we have made sustainable progress toward a more inclusive and diverse workplace,said Tammi Wortham, senior vice president of Human Resources at Sun Life U.S. Sun Life has also received the Top Workplaces U.S.A. recognition for two consecutive years, and has been named a Top Workplace by the Boston Globe for four consecutive years, making the top ten for the region's largest companies in 2020 and 2021. The company has also received recognitions as a top place to work from Forbes, Ingram's Business Magazine in Kansas City and the Human Rights Campaign Corporate Equality Index, as well as recognitions for its paid leave program from Bloomberg and the National Partnership for Women and Families. Sun Life launched expanded paid family and medical leave in 2020, offering generous paid leave for all employees, whether they are welcoming a new child, recovering from a health issue, or taking care of a loved one, including chosen family. Employees have shared stories of taking leave without the stress of job concerns, and the positive impact it has had on their families and their health. Sun Life also offers a sabbatical program that gives employees an opportunity to disconnect and spend time on personal and/or professional growth. Sun Life's Future of Work approach also includes new ways of addressing issues around diversity, equity and inclusion (DE&I). Formed in 2020, Allies Acting for Change (AAC) is a group of Sun Life employees that serve as an extension of the leadership team, assess business practices and recommend actions to make lasting progress on DE&I at the company. AAC's work has resulted in more inclusive hiring and retention practices, including the implementation of "stay" conversations, and coaching and development for Black and other professionals of color. About Sun Life Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2022, Sun Life had total assets under management of C$1.26 trillion. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. In the United States, Sun Life is one of the largest group benefits providers, serving more than 55,000 employers in small, medium and large workplaces across the country. Sun Life's broad portfolio of insurance products and services in the U.S. includes disability, absence management, life, dental, vision, voluntary and medical stop-loss. Sun Life and its affiliates in asset management businesses in the U.S. employ approximately 8,000 people. Group insurance policies are issued by Sun Life Assurance Company of Canada (Wellesley Hills, Mass.), except in New York, where policies are issued by Sun Life and Health Insurance Company.

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FINANCIAL MANAGEMENT,FINTECH

Cleareye.ai Announces Strategic Alliance with J.P. Morgan

Cleareye.ai | September 22, 2022

Cleareye.ai announces a new global strategic alliance with J.P. Morgan’s Trade and Working Capital group. The alliance leverages an industry-leading digital solution, ClearTrade, to solve both the challenges Trade Finance operations face today and tomorrow. Through significant advances in technology, the ClearTrade platform streamlines the onerous due diligence processing associated with Trade Finance transactions and the multitude of physical documents that are still prevalent in the industry today. Trade Finance is an industry going through a digital transformation. The ClearTrade solution offers a revolutionary change for banks to ensure they can continue to operate in this evolving landscape plagued with a significantly increasing cost base. Over the past year, ClearTrade has been integrated into J.P. Morgan’s Trade Processing System and is now live supporting transactions in the APAC region, with a global rollout planned over the coming quarters. Through this initiative, J.P. Morgan will be able to further leverage the digitizing of documents using powerful image processing solutions with the ability to extract, validate and accurately classify unstructured data. This level of digitization allows for: Smart interpretation of data and documents to automate letter of credit document examination Contextual and configurable rules engine to supplement existing Uniform Customs and Practice for Documentary Credits and International Standard Banking Practice rules Identification of trade-based money laundering and sanctions red flags Seamless integration into any existing Trade Finance back-office platforms Cleareye firmly believes that the ClearTrade solution has the capability to increase Trade Finance operations productivity by up to 70%. Through the automated examination of thousands of trade presentations, including both industry common and non-standard document types, the solution has demonstrated up to 9x increase in trade velocity, significant reduction in document checking errors, greater than 85% accuracy standards and up to 80% reduction in E2E processing time. “Digitizing trade finance documentation has the ability to provide real benefits to J.P. Morgan and our clients. Banks have grappled to solve the puzzle of paper and manual data entry in this business for many years and our alliance with Cleareye is taking meaningful steps towards solving the problem. The ClearTrade platform also helps us to accelerate and future-proof our clients’ business while reinvesting savings into enhancing controls and risk management.” -Stuart Roberts, Global Head of Trade & Working Capital for J.P. Morgan Mariya George, CEO and Co-founder for Cleareye, states: J.P. Morgan maintains a gold standard for digital innovation while ensuring regulatory needs are met, and we are very excited about the ClearTrade implementation and go-live. This also reinforces the strategic alliance between our firms and the vision to digitize trade operations for banks across the globe. About Cleareye.ai Cleareye.ai is an advanced Artificial Intelligence & Machine Learning platform that enables banks to launch products at a rapid pace. Headquartered in California with offices in New York, Bahrain and India, the company aims to simplify banking. The platform leverages technology breakthroughs with a fully automated document processing layer, unified ML lifecycle management, data management, model governance and dynamic rules engine leveraging NLP. This will transform banks into hyper agile organizations, that customers want to bank with and delivers exceptional customer service, drive short term gains and long-term growth, and generate insights to sustain momentum at digital scale. Cleareye.ai was founded by leaders in global technology, representing decades of entrepreneurial and digital systems experience in banking.

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FINANCIAL MANAGEMENT

PNC ANNOUNCES ACQUISITION OF POINT OF SALE AND PAYMENTS SOLUTIONS FIRM, LINGA

PNC | September 27, 2022

The PNC Financial Services Group, Inc. today announced it has acquired Linga, a point of sale (POS) and payments solutions firm providing an industry-leading, cloud-based restaurant operating system. The acquisition of Linga and its technology will further expand PNC's digital resources and enhance the bank's capabilities to better serve its hospitality and restaurant industry clients. "This acquisition reflects our continued commitment to expanding our corporate payments capabilities, as well as investing in the solutions and tools our clients need to run their businesses more effectively, Leveraging Linga's proprietary solutions and PNC's competitive treasury management platform, we will be able to provide our restaurant and retail clients with the tools they need to keep up with ever-changing consumer expectations." - Emma Loftus, executive vice president and head of PNC Treasury Management Founded in 2004, Linga developed its restaurant operating system, Linga rOS®, which was the first all-in-one, cloud-based operating system introduced to the marketplace. Today, Linga remains an industry-leading provider across the hospitality industry, offering restaurateurs, retailers and others a way to leverage technology to streamline their operations, increase revenue and improve customer experiences. Over the years, Linga has added new functionalities to its operating system to support the needs of today's business owner, including online ordering, payments, QR code-based menus, and virtual kiosks, among others. The company currently serves clients in 48 countries and as of today, will be seamlessly integrated into PNC's existing digital solutions ecosystem. We believe this is an exciting opportunity to continue to grow our business and support our existing channel partners and clients, and to do so with a company that shares our vision of delivering innovative and high-quality solutions, As we've worked with PNC over the last several years, we've had incredible success with our combined payments capabilities and we look forward to continuing this strategic collaboration as we move forward together,said Onur Haytac, founder and CEO of Linga. Linga will retain its founder and CEO, Onur Haytac, its existing management team, and U.S. and Canada-based employees, and will continue to operate out of Naples, Fla., and Toronto. Linga will continue to manage its portfolio of channel partners and clients. About Linga Linga is an industry-leading point of sale (POS) and payments solutions company offering a cloud-based, platform-as-a-service solution for the hospitality industry, specifically restaurants. Founded in 2004, Linga was the first processor agnostic, cloud-based POS system designed specifically for the hospitality industry, and remains one of the most sophisticated restaurant operating systems on the market. The Linga cloud-based platform is completely customizable and includes user-friendly functionalities such as online ordering, payments, QR code-based menus and virtual kiosks, among others. About PNC The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

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FINANCIAL MANAGEMENT

Sun Life named a Top Workplace by the Hartford Courant for third consecutive year

Sun Life | September 26, 2022

Sun Life has been named a Top Workplace by the Hartford Courant for the third year in a row, a recognition based on employee surveys conducted by Energage, as well as information about Sun Life's employee programs and benefits. "We believe in creating a workplace that fosters support, flexibility, collaboration and camaraderie, no matter where an individual employee might be based, Our employees have continued to show commitment to and passion for their work, and it brings us pride to know they have responded favorably to surveys that result in Sun Life receiving this recognition in Hartford." -Dan Fishbein, M.D., president of Sun Life U.S. In early 2023, Sun Life's Connecticut office will be moving into downtown Hartford's "Gold Building." The new office space is currently under renovation to reflect Sun Life's Future of Work approach, which prioritizes group collaboration spaces, state-of-the-art design, and technology solutions that make virtual and in-person work more seamless and efficient – while also giving employees the choice of whether to work from an office or home each day. Sun Life will continue leveraging the talented pool of professionals in and around Hartford and other offices, as well as virtual talent throughout the U.S. During the pandemic and beyond, Sun Life has emphasized flexibility, encouraging employees to step away from their at-home workstations and prioritize work/life balance. With caring support as a core part of Sun Life's culture, employee engagement has reached its highest levels in the last few years and continues to thrive. When you support employees and prioritize their wellness, they deliver above and beyond, We believe in a workplace where everyone can be their authentic selves and truly belong. Through our Inclusion Networks, discussion forums, introspective work, and building a caring, empowered culture, we have made sustainable progress toward a more inclusive and diverse workplace,said Tammi Wortham, senior vice president of Human Resources at Sun Life U.S. Sun Life has also received the Top Workplaces U.S.A. recognition for two consecutive years, and has been named a Top Workplace by the Boston Globe for four consecutive years, making the top ten for the region's largest companies in 2020 and 2021. The company has also received recognitions as a top place to work from Forbes, Ingram's Business Magazine in Kansas City and the Human Rights Campaign Corporate Equality Index, as well as recognitions for its paid leave program from Bloomberg and the National Partnership for Women and Families. Sun Life launched expanded paid family and medical leave in 2020, offering generous paid leave for all employees, whether they are welcoming a new child, recovering from a health issue, or taking care of a loved one, including chosen family. Employees have shared stories of taking leave without the stress of job concerns, and the positive impact it has had on their families and their health. Sun Life also offers a sabbatical program that gives employees an opportunity to disconnect and spend time on personal and/or professional growth. Sun Life's Future of Work approach also includes new ways of addressing issues around diversity, equity and inclusion (DE&I). Formed in 2020, Allies Acting for Change (AAC) is a group of Sun Life employees that serve as an extension of the leadership team, assess business practices and recommend actions to make lasting progress on DE&I at the company. AAC's work has resulted in more inclusive hiring and retention practices, including the implementation of "stay" conversations, and coaching and development for Black and other professionals of color. About Sun Life Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2022, Sun Life had total assets under management of C$1.26 trillion. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. In the United States, Sun Life is one of the largest group benefits providers, serving more than 55,000 employers in small, medium and large workplaces across the country. Sun Life's broad portfolio of insurance products and services in the U.S. includes disability, absence management, life, dental, vision, voluntary and medical stop-loss. Sun Life and its affiliates in asset management businesses in the U.S. employ approximately 8,000 people. Group insurance policies are issued by Sun Life Assurance Company of Canada (Wellesley Hills, Mass.), except in New York, where policies are issued by Sun Life and Health Insurance Company.

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FINANCIAL MANAGEMENT,FINTECH

Cleareye.ai Announces Strategic Alliance with J.P. Morgan

Cleareye.ai | September 22, 2022

Cleareye.ai announces a new global strategic alliance with J.P. Morgan’s Trade and Working Capital group. The alliance leverages an industry-leading digital solution, ClearTrade, to solve both the challenges Trade Finance operations face today and tomorrow. Through significant advances in technology, the ClearTrade platform streamlines the onerous due diligence processing associated with Trade Finance transactions and the multitude of physical documents that are still prevalent in the industry today. Trade Finance is an industry going through a digital transformation. The ClearTrade solution offers a revolutionary change for banks to ensure they can continue to operate in this evolving landscape plagued with a significantly increasing cost base. Over the past year, ClearTrade has been integrated into J.P. Morgan’s Trade Processing System and is now live supporting transactions in the APAC region, with a global rollout planned over the coming quarters. Through this initiative, J.P. Morgan will be able to further leverage the digitizing of documents using powerful image processing solutions with the ability to extract, validate and accurately classify unstructured data. This level of digitization allows for: Smart interpretation of data and documents to automate letter of credit document examination Contextual and configurable rules engine to supplement existing Uniform Customs and Practice for Documentary Credits and International Standard Banking Practice rules Identification of trade-based money laundering and sanctions red flags Seamless integration into any existing Trade Finance back-office platforms Cleareye firmly believes that the ClearTrade solution has the capability to increase Trade Finance operations productivity by up to 70%. Through the automated examination of thousands of trade presentations, including both industry common and non-standard document types, the solution has demonstrated up to 9x increase in trade velocity, significant reduction in document checking errors, greater than 85% accuracy standards and up to 80% reduction in E2E processing time. “Digitizing trade finance documentation has the ability to provide real benefits to J.P. Morgan and our clients. Banks have grappled to solve the puzzle of paper and manual data entry in this business for many years and our alliance with Cleareye is taking meaningful steps towards solving the problem. The ClearTrade platform also helps us to accelerate and future-proof our clients’ business while reinvesting savings into enhancing controls and risk management.” -Stuart Roberts, Global Head of Trade & Working Capital for J.P. Morgan Mariya George, CEO and Co-founder for Cleareye, states: J.P. Morgan maintains a gold standard for digital innovation while ensuring regulatory needs are met, and we are very excited about the ClearTrade implementation and go-live. This also reinforces the strategic alliance between our firms and the vision to digitize trade operations for banks across the globe. About Cleareye.ai Cleareye.ai is an advanced Artificial Intelligence & Machine Learning platform that enables banks to launch products at a rapid pace. Headquartered in California with offices in New York, Bahrain and India, the company aims to simplify banking. The platform leverages technology breakthroughs with a fully automated document processing layer, unified ML lifecycle management, data management, model governance and dynamic rules engine leveraging NLP. This will transform banks into hyper agile organizations, that customers want to bank with and delivers exceptional customer service, drive short term gains and long-term growth, and generate insights to sustain momentum at digital scale. Cleareye.ai was founded by leaders in global technology, representing decades of entrepreneurial and digital systems experience in banking.

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