Artificial intelligence (AI) company Accern and Brilliance Financial Technology have joined forces to develop an ESG (environmental, social and governance) analytics solution for banks.
The new solution with ESG sentiment analysis and benchmarking capability will be integrated into Brilliance’s forthcoming DPXesg service.
Brilliance offers end-to-end digital pricing and intelligence for banks and DPX is its flagship risk-based pricing and customer profitability system.
The DPXesg is aimed at enabling banks to assess and evaluate their clients’ ESG performance.
Brilliance Financial Technology CEO and president Jean-Edouard van Praet said: “As a proven partner for Tier 1 & 2 global banks, Brilliance is very excited to be collaborating with other innovators such as Accern to enhance the capabilities of our state-of-the-art ESG solution, DPXesg.
“With a number of major partner banks committed to going live in early 2022, DPXesg will allow global financial institutions to solve the complex problem of seamlessly incorporating ESG data into their commercial decisioning process.”
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By GlobalDataThe solution will be integrated into the bank’s client onboarding, annual review, or deal structuring workflow.
It will leverage Accern’s AI/natural language processing analytics and data to alert users of ESG risks.
Accern claims that its AI platform can be used by both technical and non-technical teams to extract themes and sentiment data from unstructured data sources such as financial filings, news, and transcripts.
Accern co-founder and CEO Kumesh Aroomoogan said: “Our no-code AI platform has helped financial services teams turn this data into something profoundly impactful, furthering truly sustainable investing. We are thrilled to partner with Brilliance to bring a product to market that will empower banks to make ESG assessments confidently.”