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.

Looking after Employees

To retain loyal and productive staff it is vital to maintain a good working environment.

  • Bancore aims at employing and supporting a diversified staff, including all genders, nationalities and cultures, since we truly believe that this gives us a stronger competitive position and offers a better product and experience for our clients and users.
  • All employees at Bancore are offered a fair salary, pension, health insurance and proper work conditions.
  • Every day we all share lunch at any of our offices globally, to ensure a strong company culture, and mutual respect under informal conditions.
  • All employees have a personal workspace, a computer, a mobile phone, and access to best possible Internet connections – both at work and at home.
  • Bancore believes in having a responsibility to assist and guide all employees to deliver their best in their job, and to always feel welcome in a friendly work environment.
  • Any news involving the company and its employees is shared by email or presented by management to ensure that co-workers feel informed, as well as helping achieve alignment between their jobs and the company’s strategy.
  • Bancore does not accept rude behaviour, rude language, inappropriate behaviour, bullying, or isolation of any staff member. Anybody can at any given time present any issues to HR while being certain that issues will be dealt with swiftly and, if necessary, confidentially.

Looking after Customers

It is important for Bancore to look after our customers – both enterprise, consumer and public sector, and to make sure that all have a positive and lasting impression of our company.

  • Bancore handles people’s money, and as such we are aware of our responsibility and have the highest security standards implemented.

  • Enterprise clients will have a dedicated support line for 24/7 support.
  • Consumers have access to support 24/7 at our dedicated WhatsApp service.
  • All services and servers are monitored 24/7 by real people.
  • Bancore has implemented AI technology to further monitor transactional patterns and attempts to get access to data from un-authorized people.
  • Bancore always strives to deliver a market leading user experience – whether by App, Web, WhatsApp or USSD.

Bancore believes we can make a difference in the market by offering the right services at the right time, combined with instant settlement at the best possible cost. This is how we aspire to become the preferred bank-like service for millions of users and enterprises globally.

Suppliers’ Standards

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.

Community Engagement

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

Measurement

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.