Responsible Product Offering
For each product and service offered, Banco ABC Brasil has policies and procedures manuals that are developed based on the Products Committee’s discussions, a committee which is composed by professionals from different departments, such as Products, Legal, Tax, Marketing, Credit, Socio-Environmental Risk, among others. Each subject discussed in this committee, related to the development and monitoring of products/services offered to clients, is evaluated by the professionals from the departments that participate in this committee, always also considering market conditions and the current laws and regulations. It is worth mentioning that the Product department has professionals specialized in each product/service offered by the Bank in order to implement and monitor a responsible and appropriate offer to its clients, to support the clients and the Banco ABC Brasil’s internal departments (such as Sales, for example) in matters related to these products, to assist the Marketing department to proper advertise all products/services, and to present the required information to the clients and government agencies.
Inter-American Development Bank (IDB) Social Bond
In September 2020, Banco ABC Brasil was selected by IDB Invest, a member of the IDB Group, to issue the first social bond issued by a Brazilian bank in the country. The transaction is comprised of R$525 million in Financial Letters (“Letras Financeiras”), with a final term of 5 years. With this transaction, Banco ABC and IDB Invest widen their credit offering, targeting four groups of clients:
- SMEs located in the North, Northeast, and Center-West regions of Brazil;
- SMEs from any region of Brazil that obtained financing during the COVID-19 crisis;
- SMEs from any region of Brazil that received financing to support an expansion plan; and
- Health care organizations of any size.
In addition to contributing to the development of the Brazilian capital markets, and for the sustainable finance segment, this transaction was the first social local bond issued by a nongovernment-controlled financial institution in the Brazilian market, and the first thematic bond acquired by IDB Invest in the Brazilian market.
This transaction aimed at contributing to two United Nations Sustainable Development Goals (SDGs): Health and well-being (SDG 3) and Decent work and economic growth (SDG 8). It has also counted with Vigeo Eiris’ Second Party Opinion on the issued social bond Framework, which confirmed that it is aligned with the four core components of the Social Bond Principles 2020 (“SBP”).
Click here to view the Vigeo Eiris’ Second Party Opinion.
Data Privacy & Security Policy
Banco ABC Brasil has Data Privacy & Security policies published, reviewed, and audited periodically. The Bank has built along the years several policies that are complementary, below are some examples together with its respective scope:
- Data Security Policy: General program exploring a fragment of the Bank’s information security strategy, data protection, and LGPD Training;
- Information Classification Policy: Classifies data by its degree of risk and potential impact to control the access to information in critical systems and processes related to Banco ABC Brasil’s business;
- System Classification Procedure: Defines the access controls to the Bank’s information, data, systems, and processes related to its businesses;
- Access Control Policy: Establishes requirements for information systems’ access control;
- Access Profile Review: Establishes the criteria to analyze and periodically review each employee’s access rights to information systems;
- Audit Trail: Defines rules for recording and storing audit trails, as well as for monitoring information security in the computing environment;
- Corporate Data Backup Policy: Establishes criteria, procedures, and frequency for the backup of Banco ABC Brasil program files and data;
- Data Masking Policy: Defines the database masking process for the homologation and development environments; and
- Policy for the Use of Electronic Documents: Defines controls to minimize the risk of integrity, availability, and confidentiality of spreadsheets and database files.
It is important to highlight that, apart from its internal initiatives, Banco ABC Brasil is in full compliance with the General Data Protection Law (LGPD – Lei Geral de Proteção de Dados) introduced in Brazil in 2020.
Notably, complementing the entire process of data protection, control, management, and governance, the ABC Brasil also has the following committees dedicated to the subject with the participation of senior executive members: i) the Operational Risk and Compliance Committee where issues related to data and cybersecurity are deliberated; and ii) the Information Technology Committee where budgetary and implementation issues are deliberated.