Flywire is committed to enhancing the digital commerce experience for people and businesses all over the world. In doing so, we’re working towards a larger purpose: to make a positive impact for our FlyMates (employees), for our customers and for our global communities.
Mike Massaro, CEO Flywire
Flywire is a global organization of more than 700 FlyMates around the world representing approximately 40 nationalities and spoken languages. We support more than 2,500 clients and millions of payers with digital payment options designed to optimize how they live and work. As a result, the principles of Environmental, Social and Governance (ESG) are inherent to how we operate, both internally and externally.
We also recognize that ESG factors can have material impact on our business and stakeholders. Under the oversight of our CEO and Nominating and Corporate Governance committee of our Board of Directors, we continue to develop a comprehensive ESG strategy and program that will guide our operations and our engagement with our ecosystem of clients and partners.
As we advance on our ESG journey, we plan to publish regular reports to update our investors and stakeholders on our performance and progress.
This ESG Interim Update shares our current measures across 4 pillars:
People & Culture
Data Security & Compliance
Social Impact & Community Engagement
People & Culture
At Flywire, our culture was created through shared experiences and sacrifices along our journey. In 2015, we introduced our first culture deck to provide clarity on our values. As we continue to grow and expand, our culture will evolve, but we believe the foundation of our shared values should always remain and guide us.
Mike Massaro, Flywire CEO
Our Flywire values guide us in all that we do, in hiring, performance, and day-to-day interactions with both FlyMates and our clients. Our values include:
- Global collaboration
- Ambitious innovation
- Evolved learning
Best Place to Work
At Flywire, we believe our FlyMates are our biggest asset. We invest strategically in our FlyMates - from wellness workshops, to leadership development, to skills training. We’re honored to be recognized as a leader in the following categories:
- Best Company Career Growth
- Best Company Happiness
- Best CEO of Diversity
- Best Company Leadership
- Best Company Perks & Benefits
- Best Company Compensation
Attracting & Retaining FlyMates
When it comes to attracting and retaining our FlyMates, we provide them as many resources as needed to build their careers of a lifetime. As soon as new FlyMates start their career journeys with us, they enter an immersive global induction program called Flying Start, where they learn from our experts about every aspect of our business. The program culminates in a graduation ceremony that all FlyMates are invited to attend. As part of our ongoing career development, we offer on-demand skills and technology training workshops, as well as professional development stipends. In our leadership development program Managers Taking Flight, we provide FlyMates with 1-1 leadership coaching with the Flywire executive team, as well as workshops on managing up, organizational design and more.
Equity, Inclusion & Diversity
We regard Equity, Inclusion and Diversity (EID) as critical to Flywire’s culture and a core competitive advantage. Our FlyMates represent nearly 40 spoken languages and nationalities, and we work to create a culture that is inclusive, respectful and encouraging of the diverse perspectives of all individuals. In addition to our inclusive People and Culture team, we have an employee-led committee, FlyMates First, dedicated specifically to promoting EID throughout our workplace and the broader community. Additional Employee Resource Groups (ERG) at Flywire include Flywire Pride and Women of Flywire. Our ERGs host regular information and guest speaker sessions to have ongoing, honest conversations about the complex dynamics of diversity, inclusion and effective allyship.
The diversity of our Board of Directors aligns to our vision of diverse leadership at Flywire and across the technology sector. Two of our Board members identify as women, one identifies as African American or Black, and two identify as Asian.
As we scale our ESG program, we plan to share further information on our company-wide EID goals and metrics. Fostering diversity and inclusion across roles and seniority levels require long-term commitment and we are ready to put in the hard work to build a truly diverse organization.
Data Security & Compliance
Over the past ten years, we've developed an industry-leading compliance, risk & security practice designed to enable us to react nimbly to meet local, global and vertical-specific guidelines around regulatory regimes, tax structures, security and other controls. As our clients' needs evolve, our security & compliance measures grow with them.
Barbara Cousins, Flywire CISO
We have a dedicated compliance and risk management function. We have implemented practices to help us protect our business and assure our clients and payment partners that our processes are compliant and meet or exceed their exacting standards, including advanced and agile practices for risk governance and a monitoring program that leverages key data inputs and software.
We have robust Anti-Money Laundering (AML), suspicious activity reports (SARs) and client Know-Your-Customer (KYC) procedures. We also devote considerable resources to our data and cyber security. In addition, we possess key certifications across the verticals we serve, which we believe is an important aspect of why our clients choose to work with us.
These audit-tested certifications and risk program features, which in many cases apply with specificity to the verticals we serve, include: third party certifications for Service Organization Control 2 (SOC 2). Payment Card Industry Data Security Standard (PCI DSS), and Americans with Disabilities Act (ADA) compliance, as well as systems and processes designed to ensure compliance with the General Data Protection Regulation (GDPR) in Europe, the California Consumer Protection Act (CCPA), the Personal Information Protection and Electronic Documents Act (PIPEDA) in Canada, the Family Educational Rights and Privacy Act (FERPA), and Health Insurance Portability and Accountability Act (HIPAA), among others.
Additionally, our artificial intelligence (AI) and machine learning (ML) enabled fraud detection risk engine has trained against millions of ACH, check, card, and wire transactions. As a result, the enhanced power of our risk engine enables us to mitigate the risk of facilitating fraud, money laundering, or transactions subject to sanctions.
Flywire is committed to ethical and compliant business practices and good corporate governance for the long-term success of our company and stakeholders. Please visit our Corporate Governance overview for more information, including our Code of Conduct & Corporate Governance Guidelines.
Social Impact & Community Engagement
This scholarship is life-changing - I am so grateful for this chance to build a meaningful career
Roz, a student from the U.K. who applied to and won a scholarship from the Flywire Charitable Foundation for the 2021-2022 academic year
Flywire Charitable Foundation
Flywire is committed to giving back to the industries and the communities that we serve. In 2020, we launched The Flywire Charitable Foundation, to help improve individuals’ access to quality education, healthcare and other important life experiences, wherever they are in the world. Through the Foundation, we have donated nearly $65,000 towards a scholarship program that helps students and their families better manage costs associated with higher education.
Flywire provides unique volunteering opportunities for our global FlyMates. One popular corporate service trip is with the non-profit, School The World, which fights extreme poverty through education in Latin America. In the past three years, Flymates have helped build three schools in Guatemala.
FlyMates are provided 2 paid days-off per year to volunteer for a social cause of their choosing. We estimate that FlyMates volunteered over 800 hours in 2021.
We aim to reduce the environmental footprint of our global operations as well as those of our clients by offering digital payment solutions. We are exploring opportunities to deepen our focus on environmental sustainability including reporting on Scope 1 and Scope 2 greenhouse gas emissions and reviewing our management and oversight structures regarding climate-related risks and opportunities. As part of our ESG strategy, we plan to announce further environmental sustainability initiatives soon.
Flywire is committed to making positive changes to improve the lives of our clients, payers, and partners, and to continue to care for our communities and fellow FlyMates. We plan to continue to share more about the initiatives around People & Culture, Data security & Compliance, Social Impact & Community Engagement and Environmental Sustainability as we expand these ESG efforts.