REG - Tintra PLC - Technology Partnership Agreement

TintraAnnouncement

25/09/2023 14:30

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RNS Number : 5644N  Tintra PLC  25 September 2023

25 September 2023

 

Tintra plc

("Tintra", the "Group" or the "Company")

 

Technology Partnership Agreement with Pegasus Capital Advisors

 

 

The board of directors (the "Board") of Tintra, the rapidly innovating Deep
Tech & Banking business, announces that as a result of events held at last
week's Climate Week in New York, which is run in partnership with the United
Nations General Assembly, that it has entered into an agreement with
Pegasus Capital Advisors ("Pegasus"), a leading global private markets impact
investment manager, to provide the planning and technology for the core
digital banking system of the Barbados Blue Green Bank (the "BGB") (together
the "Agreement").

 

The Barbados BGB, conceived by the government of Barbados, is a collaborative
project with the government of Barbados, the Green Climate Fund and Pegasus
(https://www.greenclimate.fund/project/fp213
(https://www.greenclimate.fund/project/fp213) ). It is intended to facilitate
and accelerate innovative financing to advance mitigation and resilience in
multiple sectors of the society and economy of Barbados

 

As the 2023 United Nations Climate Change Conference ("COP 28") approaches
and the world's attention turns to the growing urgency to combat climate
change, this joint collaboration under the Agreement is expected to help
address the challenges faced by the global south.

 

Tintra has spent the past 2 years mapping and understanding economies that
are underserved by legacy banking systems. It has now entered a phase of
utilizing this research, based upon its patented inventions in artificial
intelligence and decentralised systems, to develop a suite of innovative
adaptive technologies and tools which addresses those needs.

 

Tintra's work generally and particularly in relation to this Agreement is
focused very much on the philosophies of  the Bridgetown Initiative
(https://www.weforum.org/agenda/2023/01/barbados-bridgetown-initiative-climate-change/
(https://www.weforum.org/agenda/2023/01/barbados-bridgetown-initiative-climate-change/)
) and which fully aligns with our conviction that true global change has to
come from private sector and public sector collaboration.

 

Tintra's focus on financial inclusion and equality in the global south is very
connected with the issues of climate inequality; the BGB and the Bridgetown
initiatives are indeed closely aligned with Tintra's mission of driving such
change, which we aim to deliver with urgency in this collaboration.

Tintra will design a fully configured core banking system for the BGB,
powered by the world leading banking software provider, Temenos. This
underlying core banking system will be augmented by its patented compliance
technology internally developed by Tintra's Innovation Lab, staffed by PhD
level researchers and practitioners in artificial intelligence, machine
learning, anthropology, political science, and sociology. In combination,
Tintra will design the delivery profile for a truly bespoke, innovative,
secure, and fully compliant banking technology infrastructure, designed and
developed to the specific needs of the BGB.

 

Tintra are delighted and honoured to be successful in securing this
partnership with Pegasus to work on the early-stage planning of this game
changing platform. It is a powerful endorsement of the great work the team at
Tintra have undertaken as we use Artificial Intelligence to drive Real
Change™️.

 

Tintra CEO Richard Shearer says: "I am thrilled that Tintra's unique way of
approaching the issues faced in the global south is being recognised by such
distinguished players.  The opportunity has the potential to create a much
larger conduit through which to create the impact that is truly needed at
pace.

The clock continues to tick for essential action that is needed to address
climate related challenges and in turn to drive true financial inclusion and
empower those affected through a bottom up rather than just top-down
approach."

 

Craig Cogut, Founder of Pegasus Capital says: "We are incredibly excited
about the pioneering efforts of the Barbados Blue Green Bank and its
potential to serve as a model for other Blue and Green Banks to drive climate
readiness in the global south. The government of Barbados shares the vision of
creating an association of similar banks to create synergies, share knowledge
and best practices and diversify risk.  We have been approached by a number
of other countries to pursue forming similar institutions. I am very grateful
for the role Richard and his team at Tintra will play in expediting the
establishment of these banks with appropriate de facto infrastructure."

 

For further information, contact:

 

 Tintra PLC                                        020 3795 0421

 (Investor Relations)

 ir@tintra.com

 Website www.tintra.com

 Allenby Capital Limited                           020 3328 5656

 (Nomad, Financial Adviser & Broker)

 John Depasquale / Nick Harriss / Vivek Bhardwaj

 

 

 

 

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