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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Featured Pathways

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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Plans & Membership

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

More featured content

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Green and Sustainable Fintech II

Green and Sustainable Fintech II

Simon Thompson

Chartered Banker Institute CEO & ESG specialist

The finance sector has a rich history of embracing technology, from adding machines to AI and machine learning. The evolution, known as FinTech, involves digital, data-driven, internet-enabled, and AI technologies, impacting the delivery of financial services. Beyond traditional financial institutions, a broad ecosystem includes FinTech and BigTech firms like Apple, Alphabet, and Alibaba. Green and sustainable FinTech is seen as a catalyst for achieving Paris Agreement objectives and UN Sustainable Development Goals. Despite overall positivity, concerns about potential negative consequences of FinTech tools and techniques require attention.

The finance sector has a rich history of embracing technology, from adding machines to AI and machine learning. The evolution, known as FinTech, involves digital, data-driven, internet-enabled, and AI technologies, impacting the delivery of financial services. Beyond traditional financial institutions, a broad ecosystem includes FinTech and BigTech firms like Apple, Alphabet, and Alibaba. Green and sustainable FinTech is seen as a catalyst for achieving Paris Agreement objectives and UN Sustainable Development Goals. Despite overall positivity, concerns about potential negative consequences of FinTech tools and techniques require attention.

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Green and Sustainable Fintech II

6 mins 13 secs

Overview

The finance sector has a rich history of embracing technology, from adding machines to AI and machine learning. The evolution, known as FinTech, involves digital, data-driven, internet-enabled, and AI technologies, impacting the delivery of financial services. Beyond traditional financial institutions, a broad ecosystem includes FinTech and BigTech firms like Apple, Alphabet, and Alibaba. Green and sustainable FinTech is seen as a catalyst for achieving Paris Agreement objectives and UN Sustainable Development Goals. Despite overall positivity, concerns about potential negative consequences of FinTech tools and techniques require attention.

Key learning objectives:

  • Explain the uses and benefits of FinTech tools in promoting G&S development

  • Identify some real-world examples of the impact of FinTech

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Summary
What are Cryptocurrencies, and how can they be used to promote Green & Sustainable Finance?
Cryptocurrencies - These are digital assets, generally using blockchain as a means of exchange for financial transactions without a central issuing authority.
Proponents of cryptocurrencies suggest that decentralised blockchain and smart contract technologies, linked to the availability of environmental performance and sustainability data, can incentivise more sustainable consumer behaviour. For example, Solar Coin, which rewards producers of solar energy.
 What are the challenges and costs of adopting FinTech tools?
  • The risks of digital exclusion, especially in relation to vulnerable customers
  • Granularity - the individual pricing of risk enabled by AI and advanced data analysis, which may exclude individuals from products such as insurance
  • Unconscious bias in AI and machine learning
  • The loss of data control and privacy
  • In the case of cryptocurrencies, bitcoin relies on “mining”, which in turn requires huge computing power and energy consumption to function. This power is often generated via fossil fuels
What are the FinTech challenges in Green & Sustainable Finance specifically?
  • Increased automation can lead to significant increases in job insecurity. At the extreme, the replacement of large numbers of customer-facing and back-office jobs
  • Greenwashing: The benefits of a new product are overstated in order to secure investment or grow market share

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Simon Thompson

Simon Thompson

Simon is the Chief Executive of the Chartered Banker Institute and co-author of Green Finance: Principles and Practice. He is also a former Vice President of the European Bank Training Network, and is currently Chair of the Global Banking Education Standards Committee. He specialises in professional ethics, and green and sustainable finance.

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