Global PSSL announces a new fintech startup to trace and enhance transparency in the $€£¥ trillions finance field
[Cardiff, 11 December 2024], Global Principles for Sustainable Securities Lending Community Interest Company (Global PSSL CIC) is preparing to launch a new fintech and AI-powered evaluation tool for securities lending and finance. The subsequent rating – ABC Score® – awarded following this assessment will provide a clear measure of organisations’ performance and offer recommendations for improvements.
The ABC Score® will take our recently announced Active Briefing Culture® to the next level in its objective of tracing progress towards greater transparency, accountability and sustainability amongst the organisations that engage in securities lending and securities finance.
Confide Platform is Global PSSL’s external fintech partner and our Asset Owners Council joins as an internal partner on the ABC Score®, which is the brainchild of Radek Stech (Global PSSL CEO and ABC Score® founder).
Global PSSL is delivering on its promise aimed at bringing more asset owners’ voices into the field of securities lending [link] supported by an analysis of how the ABC Score® will help in achieving the asset owners’ objectives available here. Global PSSL is also fulfilling its commitment to revolutionize governance in sustainable finance through a long-term partnership with Confide Platform [link].
Beyond that, we have started including our UN reviewers and opened a new communication channel with the University of Exeter to draw further expertise on the project.
Radek Stech said: “Harnessing the power of artificial intelligence to gather metrics and establish a measurable score is tremendously exciting. This insightful grading tool will offer a breath of fresh air to a sector that wants to measure its performance against transparency, accountability and sustainability goals, but lacks a stable and impartial reference from which to do so. It’s also a great opportunity to help in delivering the asset owners’ objectives.”
Diandra Soobiah, Director of Responsible Investment at Nest said on behalf of the Asset Owners Council: “The launch of the ABC Score® represents an important step in working towards delivering on the objectives of the Asset Owner Council. There is clear value in having data and analysis to help asset owners achieve transparency on the role and performance of different institutions in the securities lending value chain. A framework that offers useful insights against a range of key measures will support engagement and help develop a much-needed standard of good practice for the market. We look forward to seeing how the tool develops.”
Pav Gill, Founder & CEO of Confide Platform, said: “The ABC Score® is a bold step in advancing sustainable finance. By integrating innovative technology with a focus on accountability, it provides organizations with a clear framework to measure and enhance their practices. Partnering with Global PSSL on this initiative reflects our commitment to building trust and driving meaningful progress in securities lending.”
Ivan Ćosović, founder of data group Breakout Point, said: “The ABC Score® benefits from the support of well-positioned stakeholders. With the Global PSSL Secretariat setting the direction, the Asset Owners Council providing valuable guidance, and the Confide Platform delivering the technical expertise, this unique partnership has the potential to truly succeed.”
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Contact Information regarding this press release:
Dr Radek Stech: radek.stech@gpssl.org
Ela Slota, Executive Assistant: ela.slota@gpssl.org
Confide Platform: www.confideplatform.com
About Global PSSL
Global Principles for Sustainable Securities Lending (Global PSSL) is the fundamental global mechanism for aligning securities lending with transparency and sustainable finance. It has been co-created by Dr Radek Stech, prominent asset owners, asset managers, sovereign wealth funds, banks, hedge funds other stakeholders committed to positive change since 2018. Global PSSL has received significant funding from the Economic and Social Research Council (ESRC), part of UK Research and Innovation, through the Sustainable Finance – Law – Stakeholders (SFLS) Network at Exeter Law School in addition to some financial assistance from some industry stakeholders. The ESRC grant request was designed based on earlier engagement with stakeholders shaping values-based banking, green bonds and sustainable project finance as well as continuous contact, research and discussions with staff from the World Bank (the official partner on the grant). In order to preserve its impartiality, the Global PSSL framework is based within its own independent community interest company.
About the Asset Owners Council
The Asset Owners Council is the first council in the incoming Global PSSL council structure. The council’s objectives are available here.
About Confide Platform
The Confide Platform empowers organizations to confidentially receive, investigate, and resolve risks, serving as an organization’s integrity hub and comprehensive compliance platform. Founded by experienced general counsel and Wirecard whistleblower Pav Gill, Confide is built on trust and transparency, aiming to craft the future of ethical business.
