Corporate Social Responsibility (CSR)
Bancore’s policy regarding CSR
CSR governs the way in which businesses self-regulate in order to ensure that all of their activities positively affect society as a whole. CSR policies aim to guarantee that companies work ethically, taking human rights into account as well as the company’s social, economic and environmental impact. Businesses should meet, and aim to exceed, any relevant legislation, and if legislation does not exist in a particular area, the company should ensure it carries out best practices anyway.
Bancore is committed to ensure that all business undertakings are conducted as ethically as possible, according to the below mission statement.
Who we are and what we do
Bancore is an operating, scalable payments company founded in Denmark and owner of an award-winning Payment Platform developed in-house at a cost of about Eur 10M.
The platform features all functionalities needed for non-cash, electronic transactions by mobile phone, now and in future.
In emerging markets, consumers will go straight from cash–only to mobile payments, bypassing brick and mortar banks – and Bancore intends to become an important part of this “Mobile Payments Industry”.
We are the only company completing the remittance/payment transaction with a prepaid Mastercard or VISA payment card loaded with the amount and instantly sent to the recipient’s handset screen, where it can be used immediately, just like a plastic card.
Bancore’s prime Sustainable Development Goal is to help remove the main obstacle to economic growth in emerging markets, which is fraud. We will do so by “financially including” the 2.5 billion unbanked/underbanked consumers around the world and offering them bank-like payment methods that will both save them money and give them access to the modern world economy.
Bancore is a payments facilitator and not a bank, so does not need a traditional banking license, as we work closely with traditional banks, but we have all the licenses and clearances necessary to carry out and grow our business.
It is vital for Bancore to ensure that we use the best possible service providers and maintain a good working relationship with them. When we say “best possible” we mean:
- Suppliers who adhere to the Modern Slavery Act 2015 and operate in line with the Bribery Act 2010
- We strongly believe in using local suppliers whenever possible, to strengthen our impact on any local country/community where we operate
- To ensure the best possible service for our customers, we seek to operate with a duplication of service provisioning from our suppliers, and as a consequence we do not offer any sole supplier rights
- We are committed to Bancore and its suppliers operating within the agreed guidelines in our contract, and expect everybody to meet an on-time delivery of agreed deliverables
- We encourage our suppliers to offer online and instant service messaging, allowing Bancore to keep our customers informed of service availability 24/7
And most importantly: we expect all our suppliers to support “instant settlement” at a fair price to the benefit of our customers.
Protecting the Environment
We at Bancore commit to reducing the environmental impact of our business activities, which for Bancore means the following:
- No unnecessary travel
- Recycling of all plastic, batteries and hardware
- Utilizing low-power bulbs and hardware to minimize our impact
- Only use organic and environmentally sustainable metal products at the offices
- Serve organic and healthy food at our offices
- Encourage employees to utilize public transport, bicycles or electric means of transportation
And most importantly, Bancore seeks not only to minimize our impact and that of our employees, but also to promote and integrate environmentally friendly projects and services as part of our offering, thereby helping emerging markets to become more aware of what they can do to make their country a better place to live.
As a business we engage with local communities in the emerging markets where we operate, by supporting projects which provide education or food for the poorest people. This is done by:
- Supporting local initiatives that provide much needed necessities to people in need
- Aiming at offering education as our customer loyalty reward
- Taking part in public debate when deemed appropriate and necessary
We are actively measuring our impact and, for both CSR and SDG, Bancore is working with leading partners in the market to establish standardized ways of measuring our impact and progress.
From 2020 on, Bancore will include this data as part of our reporting to the public, and further seek to influence others to follow our example.