A message from our CEO

Boku is a rapidly growing global company that partners with some of the world’s leading brands. Our core values drive everything we do, and we ensure they align with those of our key stakeholders. By design, we are a diverse and localised organisation, a key factor in our success. With employees from various backgrounds across 30 countries, including Taiwan, Japan, Singapore, India, the UAE, Nigeria, Germany, Ireland, Brazil, the UK, and the US, our global presence helps us better serve our customers. Diversity is not just a buzzword at Boku; it’s our competitive edge. 

Creating the right culture in such a diverse, dispersed organisation is crucial, and our ESG agenda plays a key role in this. In recent years, we’ve heavily invested in expanding our compliance and governance teams, adding expertise in diversity, equity, and inclusion (DEI), and appointing our first Group Chief People Officer. 

We are passionate about running internal DEI groups, supported by executive sponsorship, and tracking key metrics like the gender pay gap. These metrics are essential for embedding DEI into the business. 

While we operate a hybrid work model offering remote flexibility, and don’t manufacture or run emission-generating machinery, we recognise our responsibility as global citizens. We are continually looking for ways to reduce our carbon footprint. 

We also encourage employees to engage in social causes, with our management team leading by example. Initiatives such as packing food for the homeless in San Francisco, supporting an orphanage in Mumbai, and offering internships and mentorship to inner-city London teens allow us to give back to the global community. 

We understand that this work is ongoing, and we are committed to doing more than just meeting regulatory requirements—striving to make a positive impact wherever we operate. 

Our Mission – Boku is building the world’s best network of localised payment solutions. 

Our Vision – Boku is helping to enable borderless commerce by offering better payment choice. 

1. Environmental

We are pleased to highlight our ongoing commitment to sustainability, recognising the responsibility we have as a fintech company to minimise our environmental impact. While our business model naturally results in very limited carbon footprint compared to traditional industries, we remain proactive in enhancing our environmental commitment. Our operations are designed to be energy-efficient, leveraging cloud solutions that optimise resource usage and reduce the need for physical infrastructure. This approach not only streamlines our processes but also minimises energy consumption and electronic waste.  

We are committed to continuously exploring and implementing innovative practices to further reduce our environmental impact. This includes optimising data centres for maximum energy efficiency, utilising renewable energy sources where possible, and maintaining a predominantly remote workforce to decrease commuting-related emissions.   

GHG Emissions 

We currently voluntarily report on Scope 2 emissions, and we are committed to reporting on Scope 1 and Scope 3 emissions in due course. 

Scope 1 

Scope 1 emissions cover direct emissions from owned or controlled sources. Our offices are equipped with nine refrigerators and supported by air conditioning systems. Our goal is to develop our Scope 1 emission disclosures as we grow. 

Scope 2 

Scope 2 emissions relate to indirect emissions from purchased electricity and heat, calculated using location-based reporting methods. 

• USA: Scope 2 emissions were estimated using the area method, which allocates energy use based on our share of the building’s floor space and total energy consumption, as individual energy consumption data was unavailable. 
• Estonia, UK, and India: These figures were calculated using monthly utility bills, incorporating individual usage data provided by the building landlords (Estonia and UK) and energy providers (India). 

Several of our offices are powered, either fully or partially, by renewable energy tariffs. Specifically, our London and Munich offices are supplied with 100% renewable energy. In addition, Boku operates largely paperless to further reduce our environmental impact. 

To further decrease our carbon footprint, Boku is committed to collaborating with partners and suppliers to encourage their own reductions in carbon emissions. We plan to actively engage with them to identify additional opportunities for collective action in minimising our environmental impact. 

Scope 3 

Scope 3 emissions relate to indirect emissions from purchased electricity and heat, calculated using location-based reporting methods. We aim to develop our Scope 3 reporting capability in due course. 

We are committed to enhancing our reporting practices as we grow, ensuring they accurately reflect our environmental impact and sustainability efforts. By adopting industry best practices and incorporating more detailed metrics, we aim to provide clear, reliable information that demonstrates our dedication to transparency and accountability.  

2. Social  

At Boku, we firmly believe that our people are the driving force behind our success and the key to achieving our vision of becoming the world’s best localised payments partner for global commerce. Under the leadership of our new Chief People Office (CPO), Victoria Rodgers, we’ve undertaken significant changes to enhance our social responsibility initiatives. These efforts reflect our commitment to fostering a more inclusive, equitable, and high-performing workplace.  

Throughout 2024, we focused on initiatives aimed at improving recruitment, reward, driving diversity, equity, and inclusion (DEI) and social giving across Boku. We are proud to share our progress and our forward-looking strategy to continue our social impact journey.  

2024 Achievements and Milestones  

1. Fair Recruitment & Hiring Practices Overhaul  

We enhanced our recruitment processes to ensure fair, consistent, and inclusive hiring practices globally. This initiative included enabling inclusion tools within our Applicant Tracking System (ATS), broadening access for diverse candidates, and fostering a fairer hiring experience.  

2. Fair Rewards & Promotion  

We embarked on a comprehensive job leveling initiative, supported by the development of our Reward Philosophy and Principles. This effort aimed to create transparency and equity in pay and reward structures, culminating in a Pay and Reward Review that underscores our commitment to fair and consistent career progression.  

3. DEI Strategy and Delivery  

Our DEI strategy remains a cornerstone of our social initiatives. This year, we achieved a 73% participation rate in our first DEI survey, establishing critical baseline metrics for measuring progress. We delivered global cultural awareness training sessions with 41% participation, fostering a more inclusive culture. Additionally, our Intersectional Working Group, comprising 10% of employees, plays a key role in executing our DEI strategy, ensuring diverse perspectives shape our direction.  

4. Social Giving and Community Impact  

In 2024, we donated $8,430 to various charities globally and continue to offer all employees two paid days off for volunteering in their (local) community. We participate in the Family Giving Tree’s annual Holiday Wish Drive in the US, through which we are able to bring joy to 25-30 children from local low-income families. Our partnership with Urban Synergy, a UK-based youth empowerment charity, goes from strength to strength as we welcomed three people into our London office for hands-on work experience and supported their Annual UShine Recognition Awards. We also improved on-site hiring practices to provide local support to merchants wherever possible, further embedding our social impact into business operations. Finally, instead of purchasing traditional holiday gifts, Boku makes annual donations to local charities on behalf of our merchants. To further inspire positive social impact, our leadership showcases their commitment by volunteering locally during executive off-sites. In 2024, the volunteering activities included a visit to an orphanage in Mumbai, India, and building bird houses and insect hotels in Estonia.  

Future Areas of Focus for 2025 and Beyond  

Looking ahead, we are committed to building on this momentum through initiatives to support our managers through training and best practice in performance and talent management to foster an inclusive high-performance culture, bolster employee well-being, ensure fair reward, and expand financial inclusion.  

1. Management Development  

Empowering our managers to lead with empathy, inclusivity, and effectiveness is a critical enabler of our success. In 2025, we will roll out targeted management development programs that build leadership capability and continue to strengthen our inclusive high-performance culture.  

2. Transparent Performance and Talent Management  

We will refine our performance and talent management processes to prioritise objective, consistent, and transparent practices. These improvements ensure that all employees understand expectations, receive meaningful feedback, and have equal opportunities to grow and thrive.  

3. Wellbeing Strategy & Social Calendar 

We will implement a comprehensive roadmap to enhance employee well-being, creating a supportive and engaging work environment focusing on mental, physical, and social health. Year-round initiatives such as team-building activities (virtual games, local events), wellness programs (mental health workshops, sports challenges), L&D sessions (skill-building, guest speakers), DEI events (Black History Month, Women’s Month), and key local celebrations will cultivate a positive, inclusive culture that drives both employee growth and business success. 

4. Gender Pay Gap Report and Action Plan 

We will produce a comprehensive report and targeted action plan to address disparities. Our forward philosophy and principles promote fairness and inclusion, which the GPG report supports by ensuring pay and benefits are based on role impact, not gender. Insights from the report will drive data-driven decisions to ensure fairness and equity across the organisation. 

5. Financial Inclusion for the Underbanked  

We recognise the transformative potential of expanding financial access and inclusion. Our focus will increasingly turn to supporting underbanked populations, ensuring our solutions drive positive social impact globally.  

Our ongoing commitment to social responsibility is rooted in the belief that investing in our people, fostering inclusion, and driving equitable outcomes are critical to achieving sustained success. We look forward to deepening our impact and continuing to make strides in 2025 and beyond.  

3. Governance   

Boku is an AIM listed company with several regulated subsidiaries across the globe. We remain committed to ensuring that effective corporate governance is in place to deliver our values, which underpin Boku strategy. The Board is responsible for establishing a clear purpose and setting the strategic direction of Boku. It ensures that the culture is aligned with our strategy, oversees our affairs and promotes the success of Boku for the benefit of our investors, customers, regulators and other stakeholders. The GLT, led by the CEO, is accountable for delivering the strategy, with individual director accountable for delivery within their areas.  

Boku is a member of Quoted Companies Alliance (QCA) and, as such, it continues to apply its Corporate Governance Code. A summary of Boku’s compliance with the QCA Code can be found on pages 33 to 39. 

Board and Committees 

We regularly evaluate the balance of skills, experience and knowledge of Boku directors. To strengthen this process, in October 2024, the Board commissioned an externally facilitated Board effectiveness review in accordance with the code and best practice. The review included evaluation of the composition and effectiveness of the Board and its Committees, and individual board members’ contributions, and succession planning.  Key themes arising from the review were used to further strengthen Boku governance framework.  

Policies & Training 

We have an established code of ethics to underline the principles that we wish our staff to adhere to. We also have specific staff conduct policies, on whistleblowing, information security, and anti-bribery and corruption. Throughout the course of our investigations that have taken place since the date of our last annual report, we have found no instances of any systemic issues or breaches of our anti-bribery and corruption policy, nor of any anti-bribery and corruption laws. Compulsory training modules on data protection, information security and anti-money laundering are taken by all staff on an annual basis. 

Modern Slavery 

Preventing unethical practices within our own business is our priority. Additionally, we want to do the same for the partners that we work with—across the entire supply chain. Due to the nature of our business, Boku’s main suppliers are mostly involved in IT and marketing services, and they are largely considered to be low risk.  

As part of our onboarding process, we conduct due diligence on all our prospective partners and suppliers. By applying a risk-based approach, we ensure that all our partners meet our highest standards.  

Boku has established and published a modern slavery statement which can be found on our website. 

Whistleblowing  

We are committed to safe and inclusive workplace where all colleagues can speak out and report unethical behaviour in confidence, without fear of retaliation. Our whistleblowing procedures are set out on our website, where colleagues and any third party can report any criminal offences, ethical wrongdoings or other instances of malpractice that may cause harm to others. Concerns can be raised directly, on a strictly confidential basis, or anonymously, via a whistleblowing service provided by and external partner, WhistleB, to ensure anonymity. The company’s whistleblowing policy is introduced to all new employees throughout the onboarding process and is regularly reviewed to ensure that it is suitably adequate for the company and its employees.