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Annex 10: Raisin Statement of Principles for Vendors

Home › Statement of Principles for Raisin Vendors

This Statement of Principles can also be found via Raisin’s website. It is not a formalised part of the contract formed between Raisin and its vendors. However, all vendors are made aware of it and are expected to meet the relevant standards.

Raisin GmbH (“Raisin” or the “Company”) is an open banking services provider in the savings and investments space within Europe and the USA, interacting with banks, financial services providers, several third-party suppliers of services (“Vendors”) and other third-parties to help them source stable and secure deposit funding and also enable them to offer third-party products to their customers. Through these relationships, Raisin enables retail savers to access high-quality, secure and competitive savings and investments products to help them maximise their returns.

As a significant business within the European and International market for open banking and particularly in the field of deposits, Raisin enters into agreements with third parties for either the procurement or supply of goods and services. These relationships with Vendors must be assessed and managed throughout their span in order that Raisin complies with the highest legal, regulatory and ethical standards. This Statement of Principles sets out the standards that Raisin places on itself and the Principles which we expect our carefully-selected Vendors to meet.

Ensuring the principles of sustainable development in our supply chain is important to us. We ask that our Vendors acknowledge the principles stated above or demonstrate their commitment to these by ensuring that their own code of conduct or company policies embrace these standards.

We support, embrace and enact the following Environmental, Social and Governance (ESG) standards, which are based on the ten principles of the United Nations Global Compact initiative, the United Nations Guiding Principles on Business and Human Rights, and the International Labour Organisation’s Declaration on Fundamental Principles and Rights at Work. Throughout the Vendor Relationship, we expect our Vendors to also uphold these Principles.

1. Environment

  • We strive to comply with all applicable environmental, health and safety regulations.
  • In selecting suppliers and partners which supply our company with products and services, we actively choose and support suppliers which promote the safe and environmentally sound development, manufacturing, transport, use and disposal of products. We ensure by using appropriate management systems that the quality of our services we provide meet the applicable requirements.
  • We take all reasonable steps to protect our employees’ health and wellbeing, as well as that of our customers and stakeholders.
  • We use resources efficiently, apply energy-efficient and environmentally friendly technologies and reduce waste, as well as emissions to air, water and soil. We measure our impact on the environment through working with partners to benchmark key indicators such as CO2 and other emissions.
  • We take steps to minimise our negative impact on biodiversity, climate change and water scarcity.

2. Social

  • We fully support the protection of internationally proclaimed human rights and affirm our support for the fight against forced labour and child labour (including modern slavery and human trafficking).
  • We uphold the freedom of association and the right to collective bargaining in accordance with applicable laws.
  • We treat our employees with respect and provide a workplace free of harassment or abuse of any kind, which prevents harsh and inhumane treatment, and avoids all unlawful practices or discrimination.
  • We work to enhance and support diversity and inclusion in the workplace, encouraging all employees to be their full selves while at work and creating spaces such as forums and consultative groups to enable them to have a voice within our Company.
  • We enable your employees and other stakeholders to report concerns or potentially unlawful practices at the workplace through an anonymous whistleblowing process.
  • We comply with minimum wages and working hours in accordance with local laws.

3. Governance

  • We abide by all applicable national and international trade laws and regulations, including but not limited to, antitrust, trade controls, and sanction regimes.
  • We consider business integrity as the basis of business relationships.
  • We prohibit all types of bribery, corruption, and money laundering.
  • We forbid gifts to public officials or any other Politically-Exposed Persons that aim to influence business decisions or otherwise encourage them to act contrary to their obligations.
  • We respect the privacy and confidential information of all your employees and business partners, as well as protect data and intellectual property from misuse in line with the applicable regulations.
  • We implement and operate an appropriate Compliance Management System, which facilitates compliance with applicable laws, regulations, and standards.

Raisin carries out detailed assessments of all of our Vendors to ensure their integrity and commitment to ESG, and will take appropriate steps regarding our relationship with any Vendors where there is a reason for concern. Raisin reserves the right to discontinue any relationship for non-adherence to international principles, failure to correct violations, or displaying patterns of non-compliance with these standards.