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Industry roundup: 31 August

Water Impact Index CPD’s Water Impact Index can be used by investors and financial institutions to assess their impact on water resources

Water Watch is a first-of-its kind tool ranking over 200 industrial activities, including apparel, biotech, health care and pharmaceuticals, food and beverage, agriculture, infrastructure, materials, power generation, retail, manufacturing, hospitality, transportation and services, according to their potential impact on water resources – both water quantity and water quality.

This is the only analysis of this granularity that exists for assessing the relative impact of different industrial activities on the world’s water resources.

Impact

The impact of the Water Impact Index could be significant:

  • Financial institutions: Enables FI to see a snapshot of the potential impact of their investment and/or lending portfolios on water resources. Identify and engage with risky sectors and businesses and identify the pressing issues facing the sectors they finance.
  • Large companies: Can use the tool to analyse and assess the potential impact of different parts of their business andvalue chains on water.
  • Investors: Hayley McCurdy, Research Analyst, Terra Alpha Investments said: “The tool is a great launching point for understanding water-related risks for particular industries and companies. In my opinion, it presents more comprehensive and industry-specific considerations related to water compared to more sustainability-focused guidance provided by other organisations.”

Adyen launches Score with GoFundMe — a machine learning tool to easily identify malicious platform users 

Adyen, the global payments platform of choice for many of the world’s leading companies, today launched Score. The company is first-to-market with a machine learning driven solution, on a single platform, for signaling irregular activity and monitoring platform compliance. By leveraging data insights analyzing the platform merchant’s data and flagging unusual platform user behavior, Score helps Adyen’s merchants prevent misuse of the platform. As Score provides insights via a broad set of risk signals, the feature is of significant support for platform merchants’ compliance procedures. By improving effectiveness and reducing time spent on platform user security reviews, Score increases operational scalability for platforms.

Score is the newest addition to the company’s offering for platforms. GoFundMe, the global online fundraising platform, is one of Adyen’s first merchants to implement Score during the past six months.

“Score has helped us to provide the best service we can to help as many people as possible - while also ensuring our customers trust that GoFundMe is keeping them safe and protected,” said Matthew Murray, Director of Risk & Compliance at GoFundMe. “We are constantly adopting the best tools to ensure we have a full and accurate picture of our risk profile, so we were pleased to be the first to try this new Score solution.” 

“This is where tech and compliance meet – we’re very excited about the launch of Score, as we are now able to support our platform merchants in platform user fraud and integrity monitoring. Reducing risk is a top priority for platform businesses”, said Mariëtte Swart, CLCO of Adyen. “The feature puts our merchants in full control by offering a solution that never stops learning.”

CaixaBank reaches its highest volume in factoring and reverse factoring and becomes market leader in Spain

CaixaBank closed the first half of 2021 with more than 27 billion euros of turnover in factoring and reverse factoring (payment and collection management), 2.6% higher than the same period last year and the highest figure achieved thus far. This growth makes CaixaBank the leader in Spain for the factoring and reverse factoring sector, with a market share of 29%.

Reverse factoring is a financial and administrative service that consists of managing a company's payments to its domestic and foreign suppliers, who are offered the possibility of collecting invoices prior to the due date. More than 250,000 suppliers have benefited from the advantages of this service with advanced payments.

Suppliers can have an advance collection facility for all customer-confirmed invoices, without this funding creating exposure to supplier banking risk. CaixaBank has reached more than 15 billion euros in reverse factoring during the first half of 2021, 1.3% up on the same period last year. These figures mean the bank has become the Spanish leader with a market share of 32.4%.

Westpac brings 1,000 jobs back to Australia

Westpac has today announced it has brought 1,075 customer service roles back to Australia since July last year, creating new job opportunities in New South Wales, Victoria and South Australia.
This follows a commitment made in 2020 to bring 1,000 jobs back to Australia, and all customer facing contact centre roles back onshore, to give jobs to Australians and improve service to customers at a time they need it most.
The 1,075 roles, split across Sydney, Melbourne and Adelaide, primarily support Customer Assist, which directly helps customers impacted by COVID, and the mortgage process.
Westpac Chief Executive Officer, Peter King, said that: “We said we would bring 1,000 jobs back, and we have.
“COVID has resulted in some of the highest levels of customer contact we have seen, and the new roles are focused on helping our customers manage the impact of the pandemic for both themselves and their businesses.
“We continue to make changes that bolster how we support customers, and we will shortly have 100% of our customer calls answered by someone in Australia.
“Great customer service is one of the most transferrable employment skills and we have been privileged to welcome so many high-quality people from different industries to the Westpac team,” Mr King said.

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