TNT.L Regulatory News (TNT)

25 September 2023

Tintra plc

("Tintra", the "Group" or the "Company")

Technology Partnership Agreement with Pegasus Capital Advisors

The board of directors (the "Board") of Tintra, the rapidly innovating Deep Tech & Banking business, announces that as a result of events held at last week's Climate Week in New York, which is run in partnership with the United Nations General Assembly, that it has entered into an agreement with Pegasus Capital Advisors ("Pegasus"), a leading global private markets impact investment manager, to provide the planning and technology for the core digital banking system of the Barbados Blue Green Bank (the "BGB") (together the "Agreement").

The Barbados BGB, conceived by the government of Barbados, is a collaborative project with the government of Barbados, the Green Climate Fund and Pegasus (https://www.greenclimate.fund/project/fp213). It is intended to facilitate and accelerate innovative financing to advance mitigation and resilience in multiple sectors of the society and economy of Barbados

As the 2023 United Nations Climate Change Conference ("COP 28") approaches and the world's attention turns to the growing urgency to combat climate change, this joint collaboration under the Agreement is expected to help address the challenges faced by the global south.

Tintra has spent the past 2 years mapping and understanding economies that are underserved by legacy banking systems. It has now entered a phase of utilizing this research, based upon its patented inventions in artificial intelligence and decentralised systems, to develop a suite of innovative adaptive technologies and tools which addresses those needs.

Tintra's work generally and particularly in relation to this Agreement is focused very much on the philosophies of the Bridgetown Initiative (https://www.weforum.org/agenda/2023/01/barbados-bridgetown-initiative-climate-change/) and which fully aligns with our conviction that true global change has to come from private sector and public sector collaboration.

Tintra's focus on financial inclusion and equality in the global south is very connected with the issues of climate inequality; the BGB and the Bridgetown initiatives are indeed closely aligned with Tintra's mission of driving such change, which we aim to deliver with urgency in this collaboration.

Tintra will design a fully configured core banking system for the BGB, powered by the world leading banking software provider, Temenos. This underlying core banking system will be augmented by its patented compliance technology internally developed by Tintra's Innovation Lab, staffed by PhD level researchers and practitioners in artificial intelligence, machine learning, anthropology, political science, and sociology. In combination, Tintra will design the delivery profile for a truly bespoke, innovative, secure, and fully compliant banking technology infrastructure, designed and developed to the specific needs of the BGB. 

Tintra are delighted and honoured to be successful in securing this partnership with Pegasus to work on the early-stage planning of this game changing platform. It is a powerful endorsement of the great work the team at Tintra have undertaken as we use Artificial Intelligence to drive Real Change™.

Tintra CEO Richard Shearer says: "I am thrilled that Tintra's unique way of approaching the issues faced in the global south is being recognised by such distinguished players. The opportunity has the potential to create a much larger conduit through which to create the impact that is truly needed at pace.The clock continues to tick for essential action that is needed to address climate related challenges and in turn to drive true financial inclusion and empower those affected through a bottom up rather than just top-down approach."

Craig Cogut, Founder of Pegasus Capital says: "We are incredibly excited about the pioneering efforts of the Barbados Blue Green Bank and its potential to serve as a model for other Blue and Green Banks to drive climate readiness in the global south. The government of Barbados shares the vision of creating an association of similar banks to create synergies, share knowledge and best practices and diversify risk. We have been approached by a number of other countries to pursue forming similar institutions. I am very grateful for the role Richard and his team at Tintra will play in expediting the establishment of these banks with appropriate de facto infrastructure."

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