The purpose of this study is to identify how the sustainability and digital transition influence banks. The main thesis can be expressed as follows: sustainability transition and digital transition are changing the role and function of banks, especially the products and services offered by banks. Banks are one of main actors of a broader, multi-level governance designed to support the transition to smart, efficient and low carbon economy. The framework’s structure is based upon the multi-level perspective on socio-technical transitions created by F.W. Geels. The first section of this paper presents the most popular approaches to the problem at hand, as reported in professional literature. Section two presents characteristics of the various actors involved in the anticipated transformation of the economy. The third section discusses the changing roles and frameworks of banks associated with the notion of the broader concept of sustainability and digitalization.
If the inline PDF is not rendering correctly, you can download the PDF file here.
Digital Innovation in Bank Intel Red Hat 2016 https://www.sifma.org/resources/general/digital-innovation- in-banks-it-infrastructure-modernization-accelerates-progress (access 10.03.2017).
Geels F.W. 2011 The multi-level perspective on sustainability transitions: Responses to seven criticisms Environmental Innovation and Societal Transitions vol. 1 no. 1 pp. 24-40.
Geels F.W. 2013 The impact of the financial-economic crisis on sustainability transitions: Financial investment governance and public discourse Environmental Innovation and Societal Transition no. 6 pp. 67-95.
Green Climate Fund 2015 Investment Opportunities for the Green Climate Fund Elements Issue 02 November.
Guez H. Zaouati P. 2015 Positive Finance. A Toolkit for Responsible Transformation Greenleaf Publishing London.
Khan S. 2016 Leadership in the digital age - A study on the effects of digitalisation on top management leadership Stockholm Business School Master Thesis 30 HP Stockholm https://su.diva-portal.org/smash/get/diva2:971518/FULLTEXT02.pdf (access 10.03.2017).
Loorbach D.A. Lijnis Huffenreuter R. 2013 Exploring the economic crisis from a transition management perspective Environmental Innovation and Societal Transitions vol. 6 no. 1 pp. 35-46.
McIntosh M. 2013 The Necessary Transition. The Journey towards the Sustainable Enterprise Economy Greenleaf Publishing London.
Merriman N. From banks to banking - a new era of customer focused innovation in financial services http://www.ukfintech.com/future-of-fintech/from-banks-to-banking-a-new-era-of-customer-focused-innovation-in-financial-services (access 10.03.2017).
Røpke I. 2013 Sustainability transitions in the perspective of ecological macroeconomics The 10th Biennial Conference of the European Society for 6. Ecological Economics European Society for Ecological Economics Lille.