Boston, MA, USA - December 15, 2022: Today, Flywire (NASDAQ: FLYW), a global payments enablement and software company, released its inaugural Environmental, Social and Governance (ESG) report, the company’s first comprehensive summary about how it integrates social good initiatives into its business strategy. The report provides baseline metrics as well as a detailed overview of the core tenets of Flywire’s ESG program, which are shaped by many defining principles - from social impact and community engagement, to diversity, equity and inclusion (DE&I), and much more.
“Flywire’s commitment to ESG has always been a core tenet of our business strategy,” said Mike Massaro, Flywire CEO. “From leveraging software to bridge the access and affordability gap in education and healthcare, to fostering a diverse, equitable and inclusive workforce that spans 14 global offices and more than 40 nationalities, we continue to commit to the ideal that being a force for good can be inextricably linked to generating growth and short-and long-term value.”
Flywire’s inaugural ESG report details the company’s investments across the following ESG disciplines, including:
- Affordability and accessibility - Flywire’s payments technology and software enables payers to set up payment plans, helping to make high-value transactions like medical bills and education expenses more accessible and affordable.
- Diversity, equity and inclusion - Flywire employees represent 40 nationalities and more than 35 spoken languages. Our Employee Resource Groups, including Flywire Pride, FlyBlack, Women of Flywire and Flywire Globals, are devoted to promoting our DE&I mission.
- Career development and training - So far in 2022, FlyMates have spent more than 2,900 hours on company-sponsors career development and training programs. These initiatives are available to all FlyMates, including part-time and contract employees.
- Social impact and community engagement - A cornerstone of Flywire’s social impact and community engagement efforts is the The Flywire Charitable Foundation, which has tripled in size since its inception in 2020.
- Data privacy, security and compliance - Flywire’s dedicated compliance and risk management function, overseen by our Compliance Officer and Chief Information Security Officer with Board-level oversight, has been built over more than a decade, providing payers and clients confidence in our solutions.
- Governance and ethics - Flywire is committed to ethical and compliant business practices and good corporate governance for the long-term success of our company and stakeholders.
- Environmental sustainability - Flywire conducted our first greenhouse gas audit, with a vision to reduce our carbon-intensive activities and improve overall energy efficiencies.
Massaro continued: “I’m very proud to share our first ESG report, which outlines the ways we are working to better serve the communities around us, while also improving the value we provide to our FlyMates, clients, payers and partners. With a strong foundation, we look forward to evolving our ESG strategy, and deepening our commitment to the people and the places around us.”
In the past year, Flywire has reinforced its commitment to ESG by:
- Codifying ESG as a strategic priority and establishing new management and oversight of ESG priorities. The Nominating and Governance Committee of Flywire’s Board of Directors is responsible for the oversight of ESG, supported by Co-Executive Sponsors and a Cross-functional task force of employees that comprise the ESG disclosure committee.
- Establishing a Center of Expertise for Diversity, Equity & Inclusion (DE&I) to better serve our diverse, global community of FlyMates where they live and work, and to deliver inclusive and compelling experiences that engage and care for FlyMates.
- Enhancing our career development and skills training policies by offering new programs focused on enriching FlyMates’ careers and growing them both personally and professionally.
- Maximizing our social impact initiatives both through the third annual scholarship program administered by The Flywire Charitable Foundation, and through purposeful philanthropy to non-profit organizations around the world.
To view Flywire’s 2022 ESG report, visit: Environmental, Social & Governance at Flywire
- Flywire’s ESG report is based on global best practices, and aligns with metrics set forth by the Sustainability Accounting Standards Boards (SASB) standards as well as the Global Reporting Initiative (GRI) standards.
- To review Flywire’s ESG materiality assessment and data index please visit: here
Flywire is a global payments enablement and software company. We combine our proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for our clients and their customers.
Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize the payment experience for their customers while eliminating operational challenges.
Flywire supports more than 3,000 clients with diverse payment methods in more than 140 currencies across 240 countries and territories around the world. Flywire is headquartered in Boston, MA, USA with global offices. For more information, visit www.flywire.com. Follow Flywire on Twitter, LinkedIn and Facebook.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Flywire’s ESG goals, targets, commitments, and strategies and related business and stakeholder impacts. Flywire intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Flywire's forward-looking statements include, among others, Flywire’s ability to meet stated ESG goals and commitments, Flywire’s ability to execute on its ESG strategies in the time frame expected or at all, changing government regulations or stakeholder expectations; and other factors that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Flywire's Annual Report on Form 10-K for the year ended December 31, 2021 and Flywire’s Quarterly Report on Form 10-Q for the quarter ended September 31, 2022, both of which are on file with the Securities and Exchange Commission (SEC) and available on the SEC's website at https://www.sec.gov/. The information in this release is provided only as of the date of this release, and Flywire undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law. The report does not cover all information about Flywire’s business. References in the report to information should not be construed as a characterization regarding the materiality of such information to Flywire’s financial results or for purposes of the U.S. securities laws.
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