NEW YORK and SYDNEY, Dec. 13, 2021 /PRNewswire/ — Brilliance Financial Technology (bxfin.com), a global leader in delivering end-to-end digital pricing and intelligence for banks and Accern (accern.com), a leading no-code, artificial intelligence (AI) company that allows technical and non-technical users to build AI-powered solutions today announced a strategic partnership to bring AI/NLP enabled ESG (environmental, social and governance) analytics to DPX – Brilliance’s flagship risk-based pricing and customer profitability system for banks. The companies are actively partnering to develop an innovative ESG sentiment analysis and benchmarking capability for the forthcoming DPXesg service utilising Accern’s market leading no-code data science platform for financial service organizations and Brilliance’s multi-year experience in supplying ESG risk assessment tools for banks.
“Ever growing pressure from regulators, investor and customers demands that banks incorporate Environmental, Social and Governance (ESG) into their commercial decision making,” said Jean-Edouard van Praet, CEO and President of Brilliance Financial Technology. “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 Environmental, Social and Governance (ESG) data into their commercial decisioning process.”
“Alternative data, specifically unstructured data, is filling in the existing gaps of company ESG reporting as well as counteracting greenwashing by bringing the actions and practices of organizations to light,” said Kumesh Aroomoogan, Co-founder and CEO of Accern. “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.”
Brilliance’s DPXesg will enable banks to assess and evaluate their clients’ ESG performance, regardless of company size. DPXesg will integrate seamlessly into a bank’s client onboarding, annual review, or deal structuring workflow and use Accern enabled AI/NLP analytics and data to alert users of any material ESG risks.
Accern’s no-code AI platform empowers both technical and non-technical teams to extract themes and sentiment data from unstructured data such as financial filings, news, and transcripts in real-time to capture a more accurate pictures of a company’s ESG impacts and challenges.
About Brilliance Financial Technology:
Brilliance Financial Technology is the global leader in delivering end-to-end risk-based digital pricing, deal structuring and intelligence, enabling the world’s leading banks to optimize profitability in real-time. Brilliance enables banks to make better business decisions through deal structuring profitability excellence. DPX, Brilliance’s flexible and scalable solution, includes an out-of-the-box RAROC engine, and is uniquely configured to each bank’s complex products, calculations, and capital models, enabling rapid automation of the pricing and approval process. Brilliance has worked with some of the world’s leading banks to deploy this capability in over 50 countries across multiple lines of business. bxfin.com
Accern is a no-code AI platform that enables teams at financial organizations to easily build machine learning models that uncover signals and trends from unstructured data for better risk and investment decisions. Teams use Accern to build and deploy Natural Language Processing (NLP) and Predictive models, specifically trained for financial use cases, to automate processes, find value in data, and inform better business decisions – faster and more accurately than before. Enterprise clients such as Allianz and Mizuho Bank use Accern to save time, increase productivity, and make smarter risk and investment decisions. To learn more visit accern.com