Earth Day takes place on the 22nd of April each year, reminding us of the importance of environmental protection. Today’s consumers are increasingly aware of their carbon footprint and their impact on the environment.
“Some consumers are thinking more about where they spend their money. The same goes for banking. Whether it’s a bank that’s committed to the environment or an institution that has electronic options to avoid using paper and saving trees, some people are interested in doing their small part to help the environment.”
– Matthew Goldberg, “Green Banking: 7 Simple Ways You can Help Protect the Environment,” Bankrate
As this year’s Earth Day holiday approaches, here are some ways that financial institutions can contribute to conservation efforts:
Encourage customers to move to paperless transactions, including receiving statements, receipts, and other notices via email instead of postal mail. Make green options like receiving receipts or statements electronically, the default choice for consumers. According to “The Elusive Green Consumer,” a 2019 Harvard Business Review article, “[M]aking green options—such as reusing towels or receiving electronic rather than paper bank statements—the default increased uptake of the more sustainable option.”
Offer banking and IT processes that are effective and efficient to help reduce environmental impact. The easier that these processes are, the more likely consumers are to adopt the friendlier practices. In helping customers automate transactions and reduce their carbon footprint, you can positively impact the environment.
Highlight digital customer service opportunities—like chat and OnScreen Voice—so that customers don’t have to drive to or visit a physical branch.
Set-up virtual branches to service customers, reducing your physical footprint (and overhead) and offering your employees an opportunity to work from home while servicing customers.
Every little bit helps. This Earth Day, how can you make a difference?
