- August 15, 2023
- Posted by: legaleseblogger
- Category: Related News
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MPOWER Financing Achieves Certified B Corporation Status
This milestone reflects MPOWER’s continued commitment to socio-economic mobility for bright minds across the globe
MPOWER Financing Becomes a Certified B Corporation
WASHINGTON, Aug. 15, 2023 /PRNewswire/ — MPOWER Financing (“MPOWER”), a mission-driven fintech firm and a leading provider of scholarships and no-cosigner loans to promising students from around the world, announced today that it has completed a 2-year process to become a Certified B CorporationÔäó (“B Corp“), another key milestone in its long-term commitment to making a positive social impact on a global scale.
Certified B Corps are leaders in the worldwide movement to drive an inclusive, equitable, and regenerative economy, according to B Lab, the nonprofit organization that verifies and credentials B Corp applicants. B Lab performed a comprehensive review of MPOWER’s social and environmental policies and processes across five categories: governance, workers, community, environment, and customers. Notable B Corps include Patagonia, Toms Shoes, Etsy, and Ben & Jerry’s on the retail side, Laureate Education and Coursera in the Education space, and Lemonade Insurance and Aspiration Bank in financial services.
The certification as a B Corp showcases MPOWER’s commitment to democratizing access to education for millions of promising students globally. This accomplishment further solidifies its impact on the lives of these students by providing them with financial support to pursue their educational dreams. MPOWER has continuously demonstrated dedication to social responsibility, as evidenced by being incorporated as a Public Benefit Corporation (PBC) almost ten years ago, achieving GIIRS ratings for several years, and regularly measuring and publishing its impact according to United Nations metrics. With each loan made, MPOWER continues to positively change the lives of bright minds worldwide, aiming to impact 10,000 students this year alone.
MPOWER publishes an annual Social Impact Report that analyzes the role that its financing plays in helping international students obtain a high-quality education and the many positive outcomes these students achieve when they are empowered to follow their dreams. As one MPOWER student recently wrote, “Many brilliant students can see their dreams of studying abroad become a reality thanks to [MPOWER’s] support.” The report also serves to encourage higher-education institutions, policymakers, and the private sector to collectively further remove barriers that these students face when pursuing higher education.
The B certification comes on top of several other impact distinctions that MPOWER received this year, including being a Certified Great Place to Work, topping the Washington Business Journal’s Corporate Diversity Index, and Fintech Futures Banking For Good. These accolades further demonstrate MPOWER’s dedication to making a positive social impact while providing exceptional services.
How AI legalese decoder Can Help
AI legalese decoder, a cutting-edge AI-powered software, can assist organizations like MPOWER Financing in navigating the complex legal language involved in the certification process. With its advanced natural language processing capabilities, the AI legalese decoder can quickly analyze legal documents and contracts, ensuring compliance and understanding of the intricate requirements set by organizations such as B Lab. By utilizing this tool, MPOWER can streamline the certification process, saving time and resources while ensuring accurate interpretation of legal terminology.
About MPOWER Financing
MPOWER Financing, co-headquartered in Washington, D.C. and Bengaluru, India, is a mission-driven fintech company and the leading provider of global education loans. Its proprietary algorithm analyzes overseas and domestic credit data as well as the future earning potential to serve promising international and DACA students. MPOWER works with over 400 top universities across the U.S. and Canada to provide financing to students from over 200 countries. The MPOWER team consists of former international students and provides students with personal financial education and career support to prepare them for life after school.
MPOWER is a Certified B Corp and Great Place To Work, one of the best fintechs to work for and the best tech workplace for diversity. The company is hiring for positions worldwide.
SOURCE MPOWER Financing
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