Neo and Challenger Banks Position to Target Eco-Conscious Consumers in Payments

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By Sam Gazeley | 2Q 2022 | IN-6506

 

Consumer Expectations Shift Further Toward Sustainability

NEWS


The increase in sustainable banking and the drive towards more sustainable materials is a telling indicator about the values that are held in high regard in modern society and especially around what banks looking at their Environmental, Social and Governance (ESG) goals need to do to earn the trust and loyalty of today’s conscious consumers.

A sharp rise in environmental awareness has become a catalyst in pushing a new wave of sustainable banking practices. The ever-growing expectations of ecologically conscious consumers is forcing financial institutions to examine how to implement a new future for the payments market as it relates to innovation in new services and practices.

How Critical Are Consumer Values Becoming?

IMPACT


The expectation nowadays from sustainably-minded consumers is that banks should reflect the values of their customers and demonstrate a clear agenda towards becoming more sustainable. This has changed drastically from a decade ago, where the expectations that a prospective custo…

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