Green Banking: A Strategic Clash of Digital Needs vs. Wants
- Date:January 17, 2022
- Author(s):
- Lea Nonninger
- Report Details: 7 pages, 3 graphics
- Research Topic(s):
- Digital Banking
- Digital Strategy & Experience
- PAID CONTENT
Overview
As Javelin Strategy & Research tracks financial institutions’ progress along the Digital Maturity Path, sizable gaps remain between the experiences being currently delivered by banks and the optimum level of engagement. For that reason, it’s difficult to see where a growing rollout of digital features related to environmental impact fits the needs of today’s customers. Banks face considerable hurdles in making such features truly meaningful, including:
- Ensuring that they are more than old features in new packaging.
- Gathering data that enables truly insightful advice.
- Not blaming or shaming customers for their purchases.
- Avoiding backlash and brand damage for treading into politically polarizing areas.
Banks that press forward with these features should take care to ensure that they engage customers in meaningful ways and promote sustainability in a way that’s not alienating. As it stands now, most banks have bigger digital initiatives to worry about.
Companies Mentioned:
Bank of the West, Canadian Imperial Bank of Commerce, Cogo, Doconomy, Itaú Unibanco, Mastercard, National Australia Bank, NatWest, Personetics
Learn More About This Report & Javelin
Related content
The Boomers Are OK— and Shouldn’t Be Your Digital Banking Priority
Many banks and credit unions with aging customer bases worry they will alienate Baby Boomers by pouring investments into mobile-first banking to woo younger consumers. But mounting...
Six Alert Flaws That Banks Can Fix Today
Alerts enable banks to initiate meaningful digital conversations and entice customers to log in to learn, seek advice, and act. But a Javelin Strategy & Research analysis of eight ...
Youth Banking That’s Built for Parents
The industry is missing the mark with youth banking. Rather than standard free kid-size accounts, what parents really want is a youth program that provides a logical, incremental p...
Make informed decisions in a digital financial world