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Consumers want their bank or financial institution to become more sustainable in future
Over two-thirds ( 67 %) of consumers want their bank or financial institution to become more sustainable in future , according to a new report from Mambu .
The Is the grass greener on the sustainable side ? report surveyed over 6,000 consumers on their attitudes to green finance globally . It reveals that , while the majority are in favour of greener financial options , consumers have little trust in the industry ’ s sustainability credentials .
Nearly half ( 48 %) stated that access to green financial services has become more important to them in the last five
years , yet more than two-thirds ( 67 %) of global consumers believe that their current financial institution is guilty of greenwashing . Just two in five ( 42 %) consumers think that their current bank or financial institution clearly communicates its sustainability commitments and only 37 % know what climate pledges they have publicly announced or committed to .
There ’ s also confusion around exactly what ‘ green finance ’ is , as over a third ( 35 %) of consumers don ’ t fully understand the difference between green finance ( a product that has been designed to protect the environment or to manage the impacts of finance and investments on the environment ) and ethical finance ( finance which takes into account not only financial returns but also Environmental , Social and Governance factors ), indicating a need for greater education and communication within the industry .
The biggest frustrations for consumers with online payments
One-quarter ( 26 %) of UK consumers who have had a payment declined in the past 12 months admit that they don ’ t know why it was declined , according to new research from Trustly – a leading global payments platform for digital accountto-account transactions .
The data – which comes following warnings that ‘ Strong Customer Authentication ’ ( SCA ) new fraud rules could see more online payments declined – highlights a concerning trend for businesses . A third of respondents said that after their payment was declined just once , they ’ d give up on their purchase entirely . This is even more concerning when noting that less than a quarter ( 23 %) of declined payments were caused by a lack of funds .
According to the survey , consumers ' biggest frustrations with making online payments included remembering passwords ( 37 %), inputting card details ( 33 %) and the number of security steps required to complete the payment ( 25 %).
It ’ s not only the common frustrations of online shopping that present a potential threat to businesses , but the speed of the check-out process too . Of those consumers who shop online , more than two in five said that the longest they ’ d be willing to
spend in the online checkout process is two to three minutes , with just over one in five ( 28 %) only willing to wait between 30 seconds and one minute . x
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