Don’t Break the Bank – The next frontier in innovation: the sustainability opportunity for banks

Posted on 02/07/2020 by vmwareemeasmt

Listen to episode seven of the ‘Don’t Break The Bank’ podcast and subscribe here, Spotify, Apple or Google Podcasts:

Matthew O’Neill, Industry Managing Director, Advanced Technology Group, VMware Office of the CTO.

Sustainability in banking has been around, in some form or other, for a very long time. I can remember being involved in drafting green IT plans almost twenty years ago – huge documents which could effectively be summarised as “print less, switch off monitors, use more conference calls and less flights”.

Time has moved on. Now, banks and other financial service providers are putting more focus on Environment, Social Responsibility and Governance (ESG) initiatives and products. This has been driven by customers asking about banks’ commitment to sustainability. In fact, there are early indications that the coronavirus pandemic is driving a surge in ESG-related investing, with a JPMorgan note quoted by CNBC as saying “The rebound in civil society has been impressive, with an increase in volunteering, social cohesion, community support and focus on public good vs. private freedoms. We see the Covid-19 crisis accelerating the trend to ESG investment.”

So, is sustainability shaking off its CSR/tick box origins and taking its place as a true differentiator? To find out, Brian and I had Nicola Acutt, VMware’s Vice President for Sustainability Strategy, on the latest episode of Don’t Break the Bank. Nicola has some fascinating insights and relates them to VMware’s own route to sustainability – extremely pertinent when more FS providers are aspiring to be technology companies with banking licenses.

With a self-described ‘non-traditional’ career path into sustainability leadership, Nicola took Brian and me through what she’s seeing as banks strive for sustainability, how it relates to innovation and, importantly, resilience. This is so critical in the current era, and something we’re constantly talking to customers and industry peers about – how enterprises inject resilience into their operations, and it was fascinating to discuss this with Nicola and hear her take on it.

As Brian rightly put it, we came away learning so much, and I hope you will too. I urge you to have a listen, even if you think sustainability isn’t something you need to concern yourself with – you might be surprised.

We’ve also included a number of additional links and reports Nicola mentions during the podcast for further reading, so try not to print them, but take a look and let us know what you think. We’d love to hear your thoughts on this episode, any of the issues we’ve discussed over the series, or anything you’d like looking at in future, so please do give us feedback.

Listen to episode seven of the ‘Don’t Break The Bank’ podcast and subscribe here:

 

If you want to know more about the themes discussed in this episode, Nicola shared a great list of resources you can access:

 

 


Category: News & Highlights

Tags: , , , , ,

Related Articles

Posted on 17/03/2020 by vmwareemeasmt

CIO view: Transforming cybersecurity in financial services doesn’t have to be a catch-22

Matthew O’Neill, Financial Services Industry Managing Director, Office of the CTO at VMware Who’d want to work in financial services? Sometimes it feels like the industry is being assailed from all sides – huge disruption, the demand for new, innovative business models and services, cannibalisation of existing product lines, cost-cutting disguised as transformation, ever-more sophisticated […]

Posted on 25/06/2019 by vmwareemeasmt

A mission of mercy – technology and Mercy Ships

By Louise Öström, Vice President of Cloud EMEA Introduction Over the last couple of months, I’ve been talking about using technology, and more specifically cloud computing, for good. From farmers in Kenya to disaster relief and increasing the reach of education, irrespective of location, technology is being deployed as part of efforts to help those […]

Posted on 19/08/2020 by vmwareemeasmt

Moving beyond crisis

Listen to Episode Two of the new Digital Journeys podcast ‘Future Ready’ series. Thought provoking and entertaining, but above all, actionable insights brought to you by VMware and 3rd party industry voices. Throughout this crisis, most organisations reacted quickly, shifting tethered employees to establish remote workforce, identifying new models for customer support, implementing temporary solutions for […]

Comments

No comments yet

Add a comment

Your email address will not be published.

This site uses cookies to improve the user experience. By using this site you agree to the privacy policy