The joint venture openESG and msg GillardonBSM – a subsidiary of the internationally active msg group of companies – will work together in the future to offer innovative solutions for ESG data management.
Frankfurt/Kassel: December 2022. For both companies, the partnership is a complement to their services and an opportunity to leverage synergies. While openESG brings the platform solution for digital ESG data management of companies, msg GillardonBSM scores with extensive consulting services in the area of sustainable banking.
Innovative Technology and Business Consulting – Customized Solutions for Individual Customer Requirements
Driven by the EU taxonomy, the supply chain due diligence law as well as further political and regulatory requirements to meet EU climate targets, banks are required, for example when granting loans, to obtain comprehensive information from their customers around the three factors E (Environment), S (Social) and G (Governance). This requires an intensive examination of numerous regulatory requirements and their effects.
But banks are not the only ones affected. The regulatory requirements also lead to a high time expenditure for their corporate customers, who have to provide this data. Many companies are thus entering uncharted territory. This means that in order to provide banks with high-quality data, they need a certain understanding of the new requirements.
“To minimize this considerable additional effort, we have created an open, independent data hub that maps the complex process of data collection in a legally compliant and understandable way,” explains Michael Sindram, Managing Director of openESG GmbH. “Instead of time-consuming, multiple data entry in different forms, openESG simplifies and bundles the provision and use of data with comprehensive data protection and approval processes.”
This is precisely where msg GillardonBSM and openESG come in with their combined solution approach. While openESG offers financial institutions minimum-effort processes, state-of-the-art regulation and customer-friendly data collection including the highest security standards, msg GillardonBSM supports them in integrating these optimally into their ESG management.
“The digital product solution of openESG and the consulting solutions of msg GillardonBSM complement each other perfectly, so that our customers benefit from an end-to-end solution around ESG data management,” Dr. Frank Schlottmann, CEO of msg GillardonBSM, assesses the cooperation and continues: “Since the start of the cooperation in mid-November, several customers have already shown interest in our joint solution approach. For us, this is an optimal start.”
The year 2023 will be an exciting year for ESG data management. msg GillardonBSM and openESG will support their customers with an end-to-end solution approach to reduce efforts in data collection while meeting regulatory requirements, allowing them to fully focus on their core business.
openESG is a joint venture between FinTech company fino, ESG regulation specialists Envoria and technology and outsourcing service provider PPA Technologies GmbH. The three partners combine their core competencies and support financial service providers in the implementation of ESG regulations as a result of the European Green Deal. openESG provides financial service providers with an innovative, open data hub for the digital collection, management and enrichment of relevant ESG data.
Further information at: openESG
About msg GillardonBSM AG
msg GillardonBSM is part of the independent, internationally active msg group of companies.
Together, we rethink banking and offer our customers smart and innovative solutions from a single source. For more than 100 years, we have been supporting our customers in optimizing their business success and helping them to assert themselves in the constantly changing and challenging market environment. As a market leader in bank management and regulatory reporting and a provider of high-quality consulting solutions, we are a reliable partner at our customers’ side. More than 600 bright minds work every day to shape the future of banking together with our customers. In addition to its headquarters in Frankfurt am Main, msg GillardonBSM AG is represented at nine other locations in Germany and at numerous msg sites worldwide.
Further information at: msg GillardonBSM AG
Contact person openESG
Managing Director openESG & fino Gruppe
Tel: +49 (0) 173 40383 202
Contact person msg GillardonBSM AG
Head of Marketing
Tel: +49 (0) 171 8667 502
msg GillardonBSM AG
60549 Frankfurt a. M.