London Forfaiting Company further develops its digital technology in cooperation with TradeSun data
On 15th September 2023, CoriolisESG by TradeSun announced a significant development in the cooperation between TradeSun and the London Forfaiting Company (LFC). EvoESG licenses the same AI technology for its own ESG reports.
As of September 15, 2023, LFC will utilize TradeSun’s digital technology to enhance their risk and compliance capabilities, specifically focusing on ESG (Environmental, Social, and Governance) sustainability in global trade. LFC can now offer its customers TradeSun’s automated and low-footprint risk scoring technology, CoriolisESG, which was developed by a TradeSun-led working group comprising 60 global and regional banks, industry standards bodies, governmental organizations, and business representatives. This partnership aims to facilitate trade growth in emerging and developing markets by leveraging independent, trusted, and dynamic risk analysis.
CoriolisESG is designed to measure company activities against recognized frameworks and regulations, including the UN Sustainable Development Goals and the EU Taxonomy. This provides business leaders with full transparency over the risks associated with their operations and lays the groundwork for innovative sustainability-linked finance products. The adoption of TradeSun’s technology by LFC, which joined the working group last year, aims to expand their business and enhance risk assessments for their customers.
LFC CEO Simon Lay emphasized the company’s focus on scalability and the role of technology in combating financial crime in the trade sector. Nigel Hook, CEO and Founder of TradeSun, expressed his pleasure in working with LFC and highlighted the importance of complying with global regulations, noting that the TradeSun AI platform assists in minimizing administrative burdens while ensuring compliance.
