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Beyond the buzz: green finance in practice

While sustainability used to be a ‘nice to have’ in business, an increased focus on ESG metrics means that embedding sustainability into business practices is now an essential component of any strategy.

The financial services industry has an important role to play in shaping the green economy and particularly in enhancing financial resilience to climate risks. But just what does ‘green finance’ mean? To understand this emerging type of banking, let's look at some of the green financial offerings that are in the market already – products like green loans, green bonds, climate bonds, transition bonds, and sustainability-linked loans or green equity funds.

These products aim to incorporate environmental, social and regulatory issues, driving benefits for the whole of society.

Asian financial institutions leveraging green finance for growth

In Asia, we’re seeing increased efforts from organisations in all industries to evolve their businesses to encompass greener technology and business models. By providing green financial solutions through their core expertise – from lending to catalysing capital markets – financial institutions can tap into an immense opportunity, while also creating positive impact.

Reflecting the critical nature of this space, three of Singapore’s largest banks have recently launched new green products to market - OCBC’s Eco-Care Loans to promote sustainable living, UOB’s Green and Sustainable Deposits solution for its corporate and institutional customers, and DBS’ Green Guarantee products. UOB has also pledged to stop backing new upstream oil and gas projects – the first major bank in Asia to turn its back on oil and gas.

How technology can help banks go greener, faster

In order to truly embrace the ‘green finance’ movement, it is imperative that banks and financial institutions have a digital transformation plan in place. By adopting digital solutions, banks can harness technology to acquire and process information at a greater pace, with reduced operational costs, and less negative impact on the environment.

A cloud-native, technology-enabled approach will also allow banks and other financial institutions to build a strong reputation within the financial services industry.

Alongside the existing financial and fintech ecosystems, there is a growing ‘green fintech’ ecosystem in Asia, which has already produced a number of innovative green solutions, including green digital payments, investment solutions, lending and even green digital asset solutions. As this green fintech ecosystem grows and develops, collaborations and partnerships across the entire industry will continue to grow in importance.

Mambu recognises that climate change is one of the biggest challenges the world is facing today, and we are proud to be an effective enabler of green finance. Our cloud-native banking platform enables a 40% carbon footprint reduction when compared to on-premise computing equivalents.

In the financial services industry, it is vital to continuously evolve in order to meet shifting consumer and market demands; implementing ‘sustainable digitalisation’ by adopting automation, artificial intelligence and blockchain can both boost operational efficiency and improve performance against ESG metrics.

With the right technology in place rapid change can occur, leading us swiftly towards a radical new future of sustainable banking.

Revisit our Disruption Diaries report on sustainable banking 

Is the grass greener on the sustainable side

Sustainability and green finance to shape the future of banking

Siobhan Cleary

Marianne Haahr

Anna Krotova

Sustainability

 is Saturday, 5 June and as the UN describes it, the event is the United Nations' main vehicle for encouraging awareness and action for the protection of the environment.

Mambu understands that we live on a shared planet with finite resources. Managing our environmental footprint was one of the first focus areas under our broader corporate responsibility efforts.

In 2019, we achieved carbon neutral status by offsetting our emissions through reforestation projects. The 2020 pandemic brought a dip to our emission figures, but as we recover, we are asking ourselves what an effective mix of emission reduction, mitigation and adaptation measures would look like for us. There will always be some unavoidable emissions, but our goal is to reduce those to a minimum so we can provide a low-carbon digital banking infrastructure to our clients and their customers. This requires a holistic assessment of all the ways in which we impact the physical environment and identifying impactful areas of intervention.

Two thirds of our lifetimes are spent outside of the formal working environment. This will increase even more as we come back to blended working arrangements after the pandemic. How do we relate to this time? We want to raise awareness on environmental issues among Mambuvians, and empower our staff with knowledge to set off towards more sustainable lifestyles - within and outside of the office.

The shock of the pandemic did not bring our business to a halt. We will pick up the better lessons from this year and reconsider how we connect across teams and engage with our clients and customers in ways that are less polluting.

- Much of our emission reduction potential is locked within our supply chain. Can we collaborate with our office space providers to integrate nature-based solutions to manage buildings’ heating and cooling demands? Is there ground-breaking technology we can support that will reduce emissions from data centers? We are exploring opportunities to manage our impact where we have shared control over these physical assets.

- As disruptors of the financial services industry, we have a responsibility for stewarding this disruption. Mambu was founded on the belief that responsible financial services can play a significant role in poverty alleviation and improving lives. We are uniquely positioned in the financial ecosystem to support the alignment between capital flows and sustainable development. Building on our foundations, we will initiate a responsible lending programme to support non-profit and microfinance organizations who lift their communities, including those vulnerable to the impacts of climate change. 

We're now at an inflection point, where we're accelerating the foundations we've built. Our rapid growth is pushing us to critically think about the responsibility it brings. As the famous quote goes - 'we do not inherit the earth from our ancestors; we borrow it from our children'. For us, this means achieving market potential while doing no harm and improving the environment and the communities that we are all part of.

To take action during World Environment Day, register for one of the many 

Taking action for a more sustainable Mambu

We have witnessed an explosive growth of cloud-native ecosystems over the past decade, and as part of the End-User Members & Supporters community, we hope to work closely with other 

 to further mature cloud-native ecosystems.

Mambu customers and partners, have chosen a composable architecture that is built on a cloud-native platform. As CNCF aims to provide better visibility and observability into cloud-native applications it facilitates the rapid adoption of new cloud technologies. The involvement with the CNCF will further extend Mambu’s ability to provide our customers with state-of-the-art, quality products and technologies, and support them in their development.

Vendor-neutrality is a key principle of Mambu’s composable banking platform, as it provides our customers with unprecedented control over their banking systems. Working closely with CNCF and its members will allow us to extend the agility and flexibility of the Mambu platform.

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Mambu joins the CNCF

Wondering how Mambu can help you get products to market faster, improve your business agility and elevate your customer experience?

We have all that covered in our live demo session. Join us as we walk through the Mambu platform, tour the partner ecosystem and show you why Mambu is the only true SaaS platform trusted by hundreds of financial businesses around the world.

Join us as we walk through the Mambu platform, tour the partner ecosystem and we can show you why Mambu is the only true SaaS platform trusted by hundreds of financial businesses around the world.