Modern Slavery Act Statement 2021
Slavery and Human Trafficking Statement of Finastra International Limited, Finastra Global Limited and Finastra UK Limited for the financial year ending 31 May 2021
This statement is made pursuant to the Modern Slavery Act 2015. It sets out the specific actions taken by any subsidiary of affiliates of Finastra International Limited, Finastra Global Limited and Finastra UK Limited (together “Finastra” or the “Group”) to ensure that slavery and human trafficking is not taking place in any of our supply chains or in any part of our own business.
Organisation’s structure and business
Finastra operates globally to develop, manage and license a variety of software solutions and software-related services to its customers in the financial services industry.
Finastra is a trusted partner to 90 of the world’s top 100 banks and has a global scale and reach, with over 8,400 full-time employees serving clients of all sizes across 130 countries.
Finastra operates in a sector which is at relatively low risk of slavery, unlawful child labor or human trafficking existing within the business. Finastra considers its main suppliers to be at low risk of engaging in practices of modern slavery and human trafficking, the Group remains committed to prevent the occurrence of any practices both in the business and in the supply chain.
We are committed to ensuring that there is no modern slavery or human trafficking in our supply chains or in any part of our business. Our Code of Conduct & Business Ethics reflects our commitment to acting ethically and with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure slavery and human trafficking is not taking place anywhere in our supply chains. Finastra has continued to formally adopt measures to assess its supply chain, including a third-party risk management assessment and audit process. Finastra reserves the right to terminate its relationship with a non-compliant supplier. Our third-party conduct terms include a warranty that all third par-ties need to comply with applicable laws, regulations and policies relating to slavery and human trafficking.
The Environment, Social & Governance (ESG) strategy continues to form an important part of the culture journey of Finastra. Finastra has appointed an ESG team, headed by the ESG Director, tasked with driving forward a vision for ESG, Purpose & Impact, which is delivered via our programs across financial inclusion, social equity and an environment mission.
Finastra has an ESG policy which sets out best practice for all its global operations. The ESG Policy includes Finastra’s commitment to ensure that slavery and human trafficking is not taking place in any of our global supply chains and or in any part of our own business. Finastra has a Speaking Up Policy, and the business monitors whistleblowing reports from employees and reports from third parties to ensure that modern slavery and human trafficking is not occurring within its business or supply chain. To facilitate reporting, a number of avenues are available for employees and third parties anonymously to raise concerns, where they are investigated.
Due Diligence and Risk Assessments
As part of our initiative to identify and mitigate risk, Finastra engaged with EcoVadis, an independent third-party specialist, to conduct an evaluation of Finastra’s ESG strategy and sustainability performance, which include slavery and human trafficking. Finastra carries out due diligence on any potential suppliers. Finastra continues to monitor, assess and manage risks on an on-going basis in accordance with its risk management framework. We expect our third-party service providers to adhere to the same high standards Finastra has set for the organisation.
Finastra carries out regular staff training through online courses. The Group continues to review training options and that appropriate provision is made as required in respect of modern slavery and human trafficking issues.
All employees are required to complete the Code of Conduct & Business Ethics training as part of their induction programme, and annually thereafter.
This statement is made pursuant to section 54(1) of the UK Modern Slavery Act 2015 and constitutes the Group’s slavery and human trafficking statement for the financial year ended 31 May 2021 and will be reviewed and updated for each financial year.
This statement has been approved by the Board of the directors of Finastra International Limited, Finastra Global Limited and Finastra UK Limited respectively, on 30th November 2021.