The UK’s wealth management trade association PIMFA has teamed up with fund data platform Morningstar for an initiative to uncover promising startups in the sustainable investment market.

The two are collaborating on a ‘tech sprint’ focused on ESG. It will be rolled out via PIMFA WealthTech, the platform created with the help of Morningstar.

Fintechs have been invited to demonstrate how their offerings can make a difference to the reporting, verification and disclosure processes in the sustainable finance sector.

PIMFA has stated that it is looking for “high-growth, market-innovating scale-up firms” typically at a post-seed or series A funding.

Candidates should also have a “demonstrable minimum viable product” and, ideally, already be engaged with the financial services industry.

The selected fintechs will then be expected to show how their offerings can work with Morningstar datasets using the likes of APIs, open data and artificial intelligence.

Briefings will be held on March 20 and then the chosen fintechs will be invited to showcase their services at the Morningstar Investment Conference on May 1.

Richard Adler, Executive Director of PIMFA WealthTech, commented: “ESG and Sustainable Finance is a top priority for PIMFA members, with the recent FCA sustainability disclosure requirements and investment labels policy a key step for increasing trust in sustainable investments,” said Richard Adler, executive director of PIMFA WealthTech.

“The role technology can play in helping our members meet new requirements and serve their clients better has the potential to be enormous,” he added.

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