Cognizant and Alveo partner on ESG data management offering FinextraCognizant and Alveo partner on ESG data management offering FinextraCognizant and Alveo partner on ESG data management offering Finextra
Impact Investing Forum 2023
London. May 04-05, 2023.
Cognizant announces today that it has reached an agreement with Alveo in order to offer a comprehensive Environmental, Social and Governance data management solution for the financial services sector.
Cognizant and Alveo will collaborate to enable firms to operationalise ESG data, incorporate it into their business processes for better portfolio options, and address the rapidly changing regulatory environment. Alveo’s technology is tailored to financial services, with mappings between data sources as well as regulatory requirements. The platform gives clients a view of all data operations and allows them to query and examine ESG data. These capabilities can be integrated with clients’ business workflows, reporting requirements, and application landscapes by Cognizant. Financial institutions are increasingly aware of the importance of better understanding the sustainability profile funds. This is primarily due to investor demand for transparency and new regulations such as the EU’s Sustainable Finance Disclosure Regulation. Alveo CEO Mark Hepsworth stated that ESG is one of the most important trends that affect financial institutions. It requires significant investments in data and data management technology. We are thrilled to partner with Cognizant in this initiative. They have the experience and expertise necessary to drive transformative ESG capabilities. This will improve the way financial institutions provide investment products and advice that meet the needs of investors seeking capital and societal returns. Craig Stanley, SVP, Business Unit Head, Cognizant Financial Services and Banking, stated that this agreement provides financial institutions with a unique solution to assess the social impact of investment decisions and modernize their business practices to better align to their social responsibility goals. “Alveo’s data distribution and data mastering solutions, which support financial institutions all over the globe, will help our clients meet the new ESG regulations and meet the expectations of today’s socially conscious consumer.