Last month we started a discussion about "Green Banking". In the first part (here) we dealt with the Bank's extrovert activities and more specifically with banking products that have the so-called "green dimension".
However, banks, which by definition are very well organized and have the financial and human resources to carry out large reorganization or process improvement projects, [should] take the lead in adopting best practices that contribute to improving their carbon/energy footprint.
We list below some of E-ON's solutions and functionalities included in its E-ON EPI banking system, that address such best practices.
Paperless or e-statements. Eliminate paper statements and replace them with electronic ones, via email or other methods. Here we have, in addition to economies of scale, a significant benefit in reducing the administration for this recurring task.
Online application management platforms. Through these, paper handling is reduced, the need for customer's presence on site is reduced and there are other benefits concerning the pre-sales stage of a banking product.
e-Signatures. Another opportunity to reduce paper consumption, the need to manage them physically and to manage their destruction as required. In fact, in combination with the aforementioned online platforms, the bank can even achieve 100% paperless conclusion of new contracts.
Digital onboarding of new customers. This leads to a reduction in the physical resources required to complete this process, including the physical presence of the new customer in a branch. In the era when the majority of valued customers are beginning to consist of millennials, such "electronification" may even be a criterion for bank selection. In this case, one can also factor in a number of other positive environmental impacts, in addition to paper savings: Reduction of commuting, thus saving fuel and minimizing emissions of air pollutants. Reduction of the number of physical branches maintained by the bank (although this might result to other negative side effects, concerning staff management and local customer service, but that is the subject of another discussion) and therefore a reduction in the consumption of electricity and other resources, etc.
e-Invoicing. This may concern both the generation of all kinds of documents for the Bank's customers and the management and filing of incoming invoices from its suppliers.
Paperless workflows. The computerization of internal processes is another area for intervention. Having designed automatic online internal procedures, all checkpoints and approvals are handled electronically, with a substantial reduction in the consumption of paper and other related resources (printers, ink, the need to store and, later, destroy documents, etc.). Examples may include electronic procedures for approving costs and expenses, legal case management, etc.
Adoption of cloud computing. A major issue that until a few years ago was a "non-issue" for the banks, who believed that only within their own "Chinese walls" were they safe. This has begun to change, first with the adoption of cloud systems for non-mission-critical applications, but also for all kinds of "digital-first" banks that see cloud computing as more of an advantage than a threat.
Teleworking. This clearly has a positive impact on the environment, and there is also a "social contribution" dimension to the benefits that a large organisation can offer to its employees.
E-ON provides ready-to-use systems with a high degree of customization to support the optimization of internal processes such as the above. At the same time, its experienced consultants in the banking industry, are able to easily detect needs and opportunities in these areas and provide valuable advise. See more for E-ON EPI and E-ON RIX .