Ethical Banking to Acquire Mass Affluent Consumers

Summary
Banks have been slow to recognize the demand for ethical products; however, consumers are increasingly factoring environmental and social issues into their decision-making.


Synopsis
- Consider the demand for ethical banking and develop well-designed products.
- Acquire an understanding of mass affluent consumers' needs and ways to cater to these.

Reasons?To?Buy
- How can providers make money from serving mass affluent consumers?
- What should providers consider when serving the mass affluent?
- How does ethical banking attract the mass affluent segment?

Key Highlights
Ethical offerings could be "deepened" to appeal to a greater number of well-off individuals with the resources to commit to high-impact social investment.

For banks, the higher growth among the mass affluent segment provides a significant opportunity. Mass affluent individuals are more likely to have higher balances and require niche products, providing additional revenue opportunities as well as improved scale.