Crown Agents Bank is B Corp and EcoVadis certified, directly reflecting its values and unwavering commitment to building better ethical business practices.
Shortlisted at the Pay360 Awards 2024
Best ESG Implementation in Payments
EcoVadis Gold Sustainability Rating
2024, 2023, 2022
CAB has been supporting clients around the world for nearly two centuries, streamlining the flow of payments and FX through developing markets. Moving money around the world is often complex, cumbersome, unreliable, and expensive. CAB’s solutions help fix these pain points associated with moving across borders, especially in, to, and into hard-to-reach markets.
Guided by its values, CAB integrates ESG risks and strategic goals into everything it does, working closely with governments, international development organisations (IDOs), institutions and underserved geographies to facilitate the movement of money to those who need it most.
CAB has developed Social Impact Metrics, revolutionising the way it gauges aid distribution within financial markets to benefit the underserved and hard-to-reach.
CAB participated in the Payments Association's Sustainability Superheroes campaign in 2022. The initiative promotes inclusivity in the payments sector by fostering best practices and facilitating knowledge sharing. CAB has formed strategic partnerships with payment platforms, providing innovative solutions for unbanked and underserved populations. It's clients' biometric digital identity technology and CAB's affordable access to basic financial services, empower individuals beyond traditional banking channels. CAB's collaboration with this client also addresses local challenges, such as reaching those living in rural locations, such as in Africa, by implementing biometric solutions.
In 2023, Crown Agents Bank and a strategic partner embarked on a mission to transform the lives of the most vulnerable populations across low-income and lower-middle-income countries through innovative mobile transfer solutions. The initiative facilitated the flow of billions of US dollars, boosting economic resilience and fostering sustainable growth. CAB's commitment to financial inclusion is evident through currency flows, remittances, and development aid flows. It is a key partner in the humanitarian and international development sectors, supporting multilateral, government, and non-governmental organisations in challenging environments. In collaboration with a not-for-profit organisation operating in Africa, the partnership offers a mobile payments gateway solution with the sole objective of being cost-effective and fast at processing mobile money transfers. This initiative has had a significant impact on communities, facilitating humanitarian relief and enabling sustainable livelihoods.
Rooted by its ESG strategy and as a signatory to the UN Global Compact Network, CAB's metrics are built upon three defined pillars intricately aligned with the United Nations Sustainable Development Goals (SDGs).
In addition to this, CAB also supports UN SDGs 8, 12, and 16 through its commitments to inclusive and sustainable economic growth, employment and decent work for all, responsible production and consumption and peace, justice, and strong institutions.
CAB's commitment to transparency is demonstrated by its fulfilment of national and international reporting obligations. CAB is a proud member of the Ethical Trading Initiative (ETI) and has submitted in line with the Task Force for Climate-Related Financial Disclosures (TCFD). It is compliant with the Streamlined Energy and Carbon Reporting (SECR) requirements and will be aligned with the GRI index, as it is known as the best practice for sustainability reporting.
CAB is dedicated to several mission-driven economic communities. This includes the World Economic Forum New Champions, UN Sustainability, and members of the Payments Association, UK Finance, Invest Africa, UK-ASEAN Business Council, BAFT, CALP and the Charities Finance Group. CAB has also updated its articles of association to include stakeholder-centric decision-making and has since become a signatory to the Women in Finance Charter. It has set ambitious targets to close the gender and ethnic diversity gap, committing to having 30% of its executive and senior committees be women by December 2024 to reflect diversity in the senior management team.
Its strong ESG credentials and significant impact throughout the industry have resulted in CAB being recognised by two of the most prestigious global ESG accreditations, B Corp and EcoVadis.
Visit our sustainability page to learn more about our B Corp and EcoVadis status.