How Sustainable Finance Impacts Consumer Decisions

How Sustainable Finance Impacts Consumer Decisions

Sustainable finance focuses on financial investment in the long-term. Its essence has to do with funding businesses contributing to sustainable development as a way to use the economy to drive positive change. This involves lending support across healthcare, education, and even to small businesses. There’s no better time when this is needed than now.

Today, the pandemic has had a scarring impact on households and small businesses. Many people have lost their jobs, and a lot of small businesses are shut down for good. There is no better time for financial institutions to work to provide relief for less fortunate households and businesses. Not doing anything to make a positive impact on society at this time is not only unethical, but it could adversely affect the business in the long run.

This is evident from an EY research, which revealed that many consumers (more than half) value responsible banking and that their “purchasing patterns and financial institution loyalty will be impacted by financial institutions actively supporting the community.”

This research makes it evident that financial institutions investing and providing support to the community is not only ethical but will benefit such companies, business-wise.

Many consumers (more than half) value responsible banking and that their “purchasing patterns and financial institution loyalty will be impacted by financial institutions actively supporting the community.”

No longer business as usual

In the face of adversity caused by the pandemic, and the accelerating digital revolution that has already taken the world by storm, financial institutions must be at the forefront, taking measures to enhance the nature of their business. In a post-pandemic world, consumers will prefer to stick with the newer models of business since they’re less stressful and offer more comfort. In addition, they will provide strong support to companies that contribute to the betterment of the society and future generations.

Overall, this is a huge advantage for financial institutions as they can cut down on expenses and overhead cost of maintaining physical branch networks. The savings to be had as a result of these efforts can then be channeled towards driving sustainability initiatives that benefits everyone. There’s no better time to take advantage of technology and invest more in digital solutions in banking than now. It’s no longer business as usual everywhere, and financial institutions must leverage on these changes for the benefit of all.

***

>> To read more about this story and other exclusive features about the digital banking landscape, download the latest issue of The Digital Banker Magazine HERE.

Shopping Cart

Media Kit

    Data Protection

    The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            Registration Form

              Data Protection

              The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

              Registration Form

                Data Protection

                The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                Registration Form

                  Data Protection

                  The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

                  Request Nomination Pack

                  Error: Contact form not found.