Digitisation in Sustainable Banking

Sustainable Digitisation is the Future of Banking

Our global benchmark for sustainable banking indicates that financial institutions can play a prominent role in mitigating climate risk and creating new revenue streams by adopting digital solutions.

This benchmark is an extension of the European sustainable banking report in which we have included the analysis of US data surveying more than 100 banking executives. The study reveals that while the vast majority of the US surveys have significantly higher sustainability awareness they demonstrate relatively low adoption rates of digital solutions when compared to the selected European countries. This report is acknowledged by 5 prestigious sustainability and banking experts.

Overview of the new key findings of our research study:

Most banks in the US (98%), Netherlands (91%) and UK (78%) are aware of sustainability in their business strategy, but less than a half take measures to achieve it.
Well over 75% (UK) and almost all (US) banks advocate sustainability, but only half of them take sustainable measures.
The US (93%) followed by the UK (72%) acknowledge digital’s role in driving sustainability.
40% of the banks in the US and UK call out cost savings and improved brand reputation, as main benefits of sustainable banking.
Challenger banks in the US, UK and Germany are reporting on sustainability at board level more than traditional banks. Meanwhile, in the Netherlands traditional banks are reporting sustainability challenges more.
Challenger banks have greater sustainability representation at board level in the US and Germany, while in the UK and Netherlands, traditional banks lead on this.

Read the global benchmark for Sustainable Banking

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Sustainability is the new competitive landscape for banks

The role of the bank in our society has already changed. It is becoming less of a wealth repository and more of a lifestyle enabler and an integrated part of the community that it serves. The accelerated investment in customer-centric digital solutions for a sustainable future will allow banks to remain competitive in an ever-changing banking and financial services landscape. To this end, banks need to identify the barriers that are preventing them from becoming sustainable and incorporate sustainability into their planning and execution. This will lead to a positive impact on the environment while also driving business value. For banks that remain slow to act, they risk their reputation and their customer base, as an increasingly eco-conscious banking customer base could become alienated over time.

How can banks be more sustainable?

Using digital technologies that provide digital automation for paper processes while investing in Internet of Things (IoT) and cloud computing infrastructure, banks are in the best position to win and become more sustainable. The benefits of creating a sustainable banking environment are various: accelerating innovation, retaining and growing customer base, increasing cost savings, and improving business performance and efficiency.

We can help your bank become more sustainable in a digital world by bringing in-depth industry expertise blended with strategy, creative design and seamless engineering. When combined with the latest sustainability expert recommendations you can take full advantage of this golden opportunity and drive business performance by:

	Navigating the multi-stakeholder journey to remove barriers in sustainability
	Exploring a 360 degree sustainable ecosystem
	Help you understand what to focus on and how to prioritise your digital sustainable initiatives to delight customers
	Cracking the sustainable banking code and go beyond first generation sustainable initiatives

This secret recipe is what makes sustainable banking a ‘win-win’ for the banking and financial services sector.

Adopting a human-centric approach to digital banking

The client is a global leader in the banking and finance industry, having the ambition to offer customers 100% digital convenience of a fully digital banking experience. To achieve this, the bank partnered with Mobiquity to create a solid basis for an innovation factory to support their sustainability efforts while developing small market value propositions by innovating faster, cheaper and better.