Dan Broten, Chief Technology Officer at EQ Bank, recently shared insights on leveraging cloud technology to meet Environmental, Social, and Governance (ESG) objectives during a discussion at the Temenos Community Forum in Vienna this May.
Based in Toronto, EQ Bank has been utilizing both the Temenos cloud platform and Microsoft Azure to enhance its operations. The institution aims to further optimize its processes by harnessing the advantages provided by cloud technology.
Since transitioning to the cloud in 2019, Broten observed a significant boost in operational efficiency. He emphasized the bank’s commitment to maximizing these efficiencies as they seek to scale their cloud capabilities even further.
Broten shared his engineering perspective on effective measurement, stating, “What are you actually trying to achieve, and how can you tell if your changes are making a real difference? We have dedicated considerable effort to measuring the three scopes of emissions categories.”
He highlighted that operating in the cloud has not only reduced costs but also contributed to the maturity of their operational systems. By closely measuring their own energy consumption and that of their partners, EQ Bank is now able to effectively monitor and manage carbon emissions.
Additionally, Broten noted that cloud technology promotes data sharing and accountability among collaborators, enabling companies to adapt their ESG strategies and tackle challenges in real-time, fostering continuous innovation.
He concluded by emphasizing that the cloud supports a greater focus on ESG standards and data across various aspects, integrating sustainability into daily operations and influencing all decision-making processes.