The Iban Wallet approach
While the world has been pretty much focused on the COVID-19 pandemic as its present and urgent issue to be addressed, the effects and implications of climate change and environmental issues for our collective future are more present than ever. After all, as it has been succinctly put, there is no planet b.
This is not only a concern on a global scale, but one that should be addressed across all sectors and areas of activity, not only through individual actions. Finance included, and FinTech in particular should have a word on the matter.
Significant strides are being made in the field of sustainable finance by a great deal of players (and that is a trend that we will probably see grow in the near future), but taking the FinTech sector as a whole, we are able to witness a shift for more environmentally friendly practices based on digitalisation.
Putting it shortly, the very nature and modus operandi of FinTech, like Iban Wallet, is more than just convenient to the end-user. It is also more efficient in terms of resource consumption, and therefore diminishes negative impacts.
First of all there is the matter of communication with clients, including formal documentation management and all sorts of paperwork. By taking a 100% digital approach, day-to-day business avoids paper waste by potentially several tonnes throughout the years. All that adding to the carbon reduction that distribution of those papers would entail.
Furthermore, having agility and a lean mindset at heart, the impact on infrastructure is also one to take into account. Smaller spaces and decentralized teams and operations make it that much easier to effectively achieve and even surpass past results with less resource use, namely in terms of energy use.
Although a finger can be pointed at those players whose technology is based on the blockchain (a notorious consumer of energy), this should be seen as a developing technology that can pay-off in efficiency in the long run. Like with investing, thinking long-term can end up being what achieves greater results.
And speaking of the advantages of a lean structure, this is what also enabled the industry to remain operating remotely during, and following, periods of lockdown and movement restrictions. While the trend is not exclusive to the sector, remote work opportunities also have one major environmental impact: the commute.
Considering that many people were not strange to multi-hour daily journeys to and from work, a maintained cut on these, even if not during the full week, can significantly reduce harmful emissions.
At Iban Wallet, we are proud to take on this smarter, more efficient and environmentally friendly way of doing business. There is still a lot to be done, but with continuous, daily improvements, we believe that we can be part of the solution.
Because without having sustainability in mind, if the foundations are overlooked, unchecked growth is a recipe for collapse.
Iban ist eine Online-Plattform, die Investitionsmöglichkeiten zu einem projizierte Zinssatz bietet, der aus der Investition in Kredite verschiedener Kreditgeber stammt. Alle Anlagen sind durch Sicherheiten gesichert und alle Kredite sind mit einer Rückkaufgarantie sowie einer Deckung durch einen Safeguard Trust ausgestattet.