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 22/07/2020 by vmwareemeasmt

Are you ‘Future Ready’?

Listen to Episode One 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. ‘’At a time when ‘business as usual’ is not an option, we need to focus on helping each other, and assisting our customers […]

Posted on 03/02/2020 by vmwareemeasmt

Don’t Break the Bank – Financial Services, transformation and what I’ve learnt being at a vendor

By Matthew O’Neill, Financial Services Industry Managing Director, Office of the CTO, VMware One of the great things about my job is that even after thirty years in banks and banking IT and now approaching three years at VMware, there’s more to learn every day. There are things that are new, things that have changed, or […]

Posted on 24/02/2020 by vmwareemeasmt

Don’t break the bank – the way we work, how its changing and what that means for financial services

By Matthew O’Neill, Financial Services Industry Managing Director, Office of the CTO, VMware How do we work? It’s a cliché to simply say ‘the way we work is changing’, but like any cliché, at its heart is a truth – that the way we work really is changing beyond all recognition. Even twenty years ago, […]


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