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Happiest Minds Technologies partners with CredQuant to drive ESG transformation in BFSI



Posted On : 2022-11-10 13:33:32( TIMEZONE : IST )

Happiest Minds Technologies partners with CredQuant to drive ESG transformation in BFSI

Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a 'Born Digital. Born Agile', Mindful IT Company, has announced its partnership with CredQuant, Singapore's leading ESG solution provider for BFSI customers, taking a leap in digitally transforming data, risk and regulatory complexity to empower clients in making sustainable investment decisions.

Happiest Minds' collaboration with CredQuant will help BFSI customers in addressing ESG (Environmental, Social, and Governance) Screening, ESG Rating Models, Sustainability Disclosures & Reporting, Impact Reporting and Carbon Footprint (Scope-1/2/3). In addition, the partnership aims to implement, configure & customize the ESG Screener to cloud lending/underwriting/claims managements solution; build customized ESG report of prospective customers to get real-time connectivity to cloud Lending and integration with external & internal systems.

Rajiv Shah, Executive Board Member & CEO, Digital Business Services (DBS), Happiest Minds Technologies said, "At Happiest Minds, we are committed to drive sustainable transformation with target-based actions, one of the vision statements of the Company is 'to be known for our ESG standards'. The alliance with CredQuant is a step ahead in Happiest Minds' ESG journey wherein our BFSI customers will be poised to accelerate their digital transformation through the ESG-lens, propelling their sustainable agenda. We look forward to a futuristic journey together with our added capabilities to follow a compliance led and resilient ESG strategy in building innovative and sustainable business solutions."

Subhasis Bandyopadhyay, Vice President - Domain and IG Head (BFSI), Digital Business Services (DBS), Happiest Minds Technologies said, "We are excited to partner with CredQuant, a global ESG leader, to support our BFSI customers in being ESG compliant. While this collaboration uses CredQuant's highly scalable platform, offering sustainable products and services, thereby mitigating risks, it supports Happiest Minds in our vision of ESG Excellence by mindfully leveraging our digital technology-led business excellence for our people, our customers and community, powered by our mission 'Happiest People . Happiest Customers'."

Prabhash Mishra, Chief Operating Officer, CredQuant Solutions said, "At CredQuant, we aim to become the one- stop solution provider for Financial Services Industry for their variety of risk management, investment research, regulatory, reporting, data and analytics needs (including ESG risk, Credit risk, Market risk, Liquidity risk and Operational risk). With our Next-Gen SaaS-based Hyperscalable API-driven technology, our solutions are easy to integrate, customizable and provide our clients speed to market. Our solutions including ESG Screening, ESG and Credit Rating, Exclusion/Inclusion Rules Engine, Early Warning Signals, Negative News & ESG Screening, Realtime Risk Monitoring, Report Automation, Data and AI (ML/NLP/OCR) decision tools have been recognised by our clients and industry bodies across Southeast Asia, India, Europe and the US. Our Strategic Partnership with Happiest Minds will allow us to offer the best of both worlds: innovation, agility, domain expertise, speed and cost efficiency of a startup as well as maturity, scale, consistent delivery, timely execution and trust of a large organisation."

Harshita Sharma, Head of Strategic Alliances, CredQuant Solutions said, "CredQuant is leveraging Data, Cloud and AI to analyze sustainability data, financial data, risk data, real-time news and events, complex business and regulatory requirements to build risk scoring models, screening, reporting, research and decision-making solutions for our clients offering financial services. Our niche domain expertise in banking, capital markets, asset management, wealth management, insurance, sustainability and climate change along with deep technology, data and AI know-how enables us to be a strategic knowledge partner to accelerate our client's technology strategy and implementation. We are excited about our strategic partnership with Happiest Minds to scale our operations and technology capability and deliver consistent value to our clients. Happiest Minds has been listed amongst Asia's Best Workplaces with more than 4500 employees in 7 countries, over 200 clients and is a Gold Partner for Microsoft and Select Partner for Snowflake. With this partnership, we look forward to fast-track our innovation journey to help our BFSI customers on their Risk, ESG and Digital transformation."

The partnership will help develop ESG - Enterprise data hub/data management in cloud; provide ESG as IaaS which will include edge computing; cache; high availability, containerization, auto-scaling; monitoring & alerting operational intelligence and provide post implementation support & managed Services. This will support BFSI customers in integrating ESG concerns and factors into core business, assessment of ESG data carbon footprint, GHG emission and align ESG framework with TCFD, SASB, EU regulations; reporting ESG risk across enterprise and transparency in reporting to the investor community.

Happiest Minds has embedded ESG excellence in its vision statement, targeting the goal to be carbon neutral in its operations by 2030. The Company has recently won the prestigious Golden Peacock Award for Excellence in Corporate Governance (GPAECG) for the year 2022. Designed for perpetuity, Happiest Minds today counts for more than fifty-four Billion-Dollar corporations as its customers.

Shares of Happiest Minds Technologies Limited was last trading in BSE at Rs. 971.50 as compared to the previous close of Rs. 976.30. The total number of shares traded during the day was 36206 in over 3922 trades.

The stock hit an intraday high of Rs. 980.50 and intraday low of 970.00. The net turnover during the day was Rs. 35264846.00.

Source : Equity Bulls

Keywords

HappiestMindsTechnologies INE419U01012 Partnership CredQuant ESGSolutionProvider BFSICustomers