Finextra sat down with chief technology officer at EQ Bank, Dan Broten, at the Temenos Community Forum in Vienna this May, to explore how the cloud can be leveraged to accomplish ESG goals.
EQ Bank, based in Toronto, has been operating on both Temenos cloud and Azure, and is now looking to optimise their operations further by leveraging benefits gained on the cloud.
Broten remarked that there was a massive increase in efficiency when they transferred to the cloud in 2019, and that now they are looking to make even more of a difference to squeeze out more efficiency by scaling on the cloud.
Broten described the areas in which EQ Bank is currently concentrating their efforts: “The engineer in me focuses on measurement. What are you actually trying to achieve and how do you know when you are making changes if you are actually making a difference and making that impact? We have spent a lot of time investing in how we are going to measure the three scopes of emission types.”
He explained that running on the cloud has saved costs and driven the operations systems to mature. By measuring granular impact and energy usage of their own operations and their partners operations, the cloud has facilitated the measurement and monitoring of carbon emissions.
Broten added that the cloud allows for the sharing of data, accountability, and learned information between collaborators that allows companies to adapt their ESG models and solve challenges as they arise, constantly improving and innovating.
He stated that the cloud allows for more opportunities to focus on ESG standards and data points in various areas; factoring sustainability into their day-to-day, permeating all decision-making.