impak Ratings acquires 100% of London-based Exerica, an AI fintech firm specializing in the extraction and interpretation of financial and extra-financial data.
Exerica’s team joins impak to accelerate the automation of its impact analysis and ratings processes.
This acquisition further positions impak as a leading impact analysis and ratings agency in Europe, now with a presence in the UK.
London and Montreal, November 4, 2022: impak Ratings, a leading impact analysis and ratings fintech, acquires 100% of London-based Exerica’s assets to expand its AI capabilities. Exerica’s entire team will be integrated into impak’s production processes along with its proprietary AI data extraction and contextualization software. This will increase production capacity for impak’s high-quality impact assessments, including its entry-level SDG Alignment and SFDR products, now available as Freemium offerings.
This is an important step forward for the company: by integrating Exerica, impak will now benefit from a permanent foothold in the UK, a rapidly expanding market due to a growing demand for sustainable financial products and planned implementation of more stringent ESG reporting regulations.
Building Momentum for Sustainable Finance
The financial sector is undergoing a profound transformation. As key players in the financing of the economy, financial institutions are increasingly taking on environmental and societal challenges, to become strong enablers in this transition.
“The financial world needs to integrate impact analysis based on high-quality data. This is the only path to sustainability. By joining impak, Exerica will be a major contributor to impact analysis as a key data source, with its AI-driven data collection engine. Joining impak is the logical next step for Exerica,” notes Maxim Miller, founder and CEO of Exerica.
“Whilst 100% automated ESG solutions suffer from the GiGo effect – garbage in, garbage out – the addition of Exerica’s AI expertise to the impak team is fundamental to the scale-up of our augmented intelligence process.We will maintain our competitive advantage, which is to offer our clients contextualized impact data for them to make better financial decisions.” concludes Paul Allard, co-founder and CEO of impak Ratings.
impak, a unique player in the market
Launched in 2019 and based in Montreal, Paris, and now London, impak Ratings aims to be the leading European impact analysis and ratings agency. The start-up has already signed more than twenty clients thanks to its innovative methodology. The company provides financial institutions with high-quality impact analysis, based on the most rigorous and universally-accepted industry standards, allowing transparency, comparability, and data contextualization. By assessing how companies mitigate their negative impacts and how they create positive effects in relation to the UN’s 17 Sustainable Development Goals, impak Ratings goes beyond the traditional analysis of ESG issues. This is a result of its double materiality approach, which consists of studying the impact of a company and the environment on one another. This approach is now recognized as being instrumental in catalyzing the financial sector to transformour economies, which explains impak’s current collaboration with major players in the market, such as Societe Generale.
About impak Ratings
impak Ratings, a fintech start-up using augmented intelligence, offers impact analysis and ratings to the financial sector. Its standardized impact assessment methodology incorporates positive impacts and the double materiality approach, based on the standards of the Impact Management Project and the 17 United Nations Sustainable Development Goals. In addition, thanks to more than 3,700 enriched data points and its 1000-point scoring process, called the impak Score™, impact analyses are reliable, contextualized, and can be compared with one another.
Exerica is a UK-based fintech firm with proprietary AI that extracts and identifies the meaning and context of data in financial and extra-financial documents, eliminating the need for manual data entry and taking analysis capacity to the next level.