Latest news with #sustainablebanking
Finextra
4 days ago
- Business
- Finextra
Money20/20: Building a net zero bank
Can a bank be fully net zero? And where can climate-conscious consumers turn to make ethical, sustainable payments? 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. At Money20/20 Europe in Amsterdam, Sophia Furber, fintech research analyst, S&P Global, spoke with Richard Theodossiades, founder and CEO of Zero Fintech on how he created a sustainable alternative to banking in the panel session 'Building a Net Zero Retail Bank'. The fintech is a neobank focused on climate change that fully launched in the UK in January 2025. Theodossiades provided statistics on the exponential growth of global temperatures, and how traditional UK banks are still 'wedded to making money out of fossil fuel production'. The figure showed that the top five UK banks: Barclays, HSBC, Santander, NatWest, and Lloyds, have contributed billions of dollars since 2023 to fossil fuel production, and hundreds of billions since the Paris Agreement was signed. Barclays topped the list, spending $24.2 billion since 2023 and $235 billion since 2016. He added: "When I talk to some of those CEOs of those banks, they say to me, 'We want to do sustainability, but it's going to take us 25 years' […] We can't wait. The planet can't wait. So that's the problem we're trying to solve.' Theodossiades highlighted Zero Fintech's goal of equipping climate-conscious consumers with the tools to make eco-friendly choices in their day-to-day banking. Under-34 year-olds are not only climate anxious, but 'actively anxious' Theodossiades explained, which means they are searching for products and services that will relieve this anxiety and protect the planet. This is where Zero Fintech's GreenScore comes in. GreenScore is a personal sustainability index that represents customers' personal sustainability from 0-1000. The data is accumulated by processing transactions on customers' Zero account (which can also be attached to other bank accounts), analysing the carbon cost of those transactions, and reprocessing it to generate a GreenScore number. The objective of the number is to quantify the user's carbon footprint, even gamify it in a sense by providing a clean-cut and comparable indicator of how sustainable they are acting, and providing them with the incentive to improve on it. Theodossiades also mentioned that Zero will be launching Zero Carbon Projects in the near future, an initiative that will offset high carbon emission transactions by allowing users to put money into sustainable and carbon-offsetting projects within the app. The fintech now has 10,000 registered customers at the low cost of acquisition, which proves that there is demand for the product. Zero Fintech provides a 'bank-like experience without actually being a bank', according to Theodossiades, thanks to significant collaborations in issuance, underlying IBAN accounts, KYC liquidity, transaction monitoring, reconciliation, card manufacturing, open banking activities, and more. Theodossiades previously founded Wealthify, a digital wealth management platform which offered ESG-focused and ethical investments in their app. Theodossiades aims to build up Zero over time, applying for a banking license in the future to offer more products and services. The app is currently available in the UK to download for free. 'What we really would like to do with Zero as we evolve, is to add pensions and investing products. If we're successful, we should end up with a cohort of millions of climate-conscious, ethical British consumers, and become the go-to place for all the best-in-class climate products,' Theodossiades stated.
Finextra
4 days ago
- Business
- Finextra
Money20/20 Europe 2025: Building a net zero bank
Can a bank be fully net zero? And where can climate-conscious consumers turn to make ethical, sustainable payments? 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. At Money20/20 Europe in Amsterdam, Sophia Furber, fintech research analyst, S&P Global, spoke with Richard Theodossiades, founder and CEO of Zero Fintech on how he created a sustainable alternative to banking in the panel session 'Building a Net Zero Retail Bank'. The fintech is a neobank focused on climate change that fully launched in the UK in January 2025. Theodossiades provided statistics on the exponential growth of global temperatures, and how traditional UK banks are still 'wedded to making money out of fossil fuel production'. The figure showed that the top five UK banks: Barclays, HSBC, Santander, NatWest, and Lloyds, have contributed billions of dollars since 2023 to fossil fuel production, and hundreds of billions since the Paris Agreement was signed. Barclays topped the list, spending $24.2 billion since 2023 and $235 billion since 2016. He added: "When I talk to some of those CEOs of those banks, they say to me, 'We want to do sustainability, but it's going to take us 25 years' […] We can't wait. The planet can't wait. So that's the problem we're trying to solve.' Theodossiades highlighted Zero Fintech's goal of equipping climate-conscious consumers with the tools to make eco-friendly choices in their day-to-day banking. Under-34 year-olds are not only climate anxious, but 'actively anxious' Theodossiades explained, which means they are searching for products and services that will relieve this anxiety and protect the planet. This is where Zero Fintech's GreenScore comes in. GreenScore is a personal sustainability index that represents customers' personal sustainability from 0-1000. The data is accumulated by processing transactions on customers' Zero account (which can also be attached to other bank accounts), analysing the carbon cost of those transactions, and reprocessing it to generate a GreenScore number. The objective of the number is to quantify the user's carbon footprint, even gamify it in a sense by providing a clean-cut and comparable indicator of how sustainable they are acting, and providing them with the incentive to improve on it. Theodossiades also mentioned that Zero will be launching Zero Carbon Projects in the near future, an initiative that will offset high carbon emission transactions by allowing users to put money into sustainable and carbon-offsetting projects within the app. The fintech now has 10,000 registered customers at the low cost of acquisition, which proves that there is demand for the product. Zero Fintech provides a 'bank-like experience without actually being a bank', according to Theodossiades, thanks to significant collaborations in issuance, underlying IBAN accounts, KYC liquidity, transaction monitoring, reconciliation, card manufacturing, open banking activities, and more. Theodossiades previously founded Wealthify, a digital wealth management platform which offered ESG-focused and ethical investments in their app. Theodossiades aims to build up Zero over time, applying for a banking license in the future to offer more products and services. The app is currently available in the UK to download for free. 'What we really would like to do with Zero as we evolve, is to add pensions and investing products. If we're successful, we should end up with a cohort of millions of climate-conscious, ethical British consumers, and become the go-to place for all the best-in-class climate products,' Theodossiades stated.
Zawya
11-05-2025
- Business
- Zawya
Ahlibank reports strong q1 2025 performance: Delivers sustained momentum and strategic growth
Muscat: Reaffirming its position as a 'Partner in Excellence', ahlibank recently shared its first-quarter 2025 financial results, reflecting a period of robust growth and resilience amidst a dynamic economic landscape. In light of Oman's renewed fiscal stability and a favorable outlook, the bank remains steadfast in its strategic focus on sustainable growth, innovation, and its commitment to people-centric values. In the first quarter of this year, ahlibank's momentum was further amplified through high-impact partnerships, digital transformation initiatives, and community-driven campaigns—reinforcing its role as a trusted partner in national development and inclusive economic progress. The bank's first-quarter performance demonstrates strong progress, underpinned by year-on-year growth across key financial indicators when compared to the same period in 2024. Net loans, advances, and financing increased by 9.6% to OMR 3,070.4 million, while total assets expanded by 9.1% to reach OMR 3,677.0 million. Customers' deposits recorded a strong uptick of 18.3%, rising to OMR 2,954.1 million—a testament to growing customer confidence in the bank's offerings. Operating income rose by 16.0% to OMR 28.24 million, outpacing the 11.3% increase in operating expenses, thereby reinforcing operational discipline and cost efficiency. Profit for the period stood at OMR 9.71 million, reflecting a solid 12.5% year-on-year increase, while equity strengthened to OMR 552.1 million, up 6.9% from the corresponding quarter in 2024. These results underscore ahlibank's consistent trajectory of prudent growth and value-driven performance, aligned with its strategic ambitions. Commenting on the bank's performance, Said Abdullah Al Hatmi, CEO of ahlibank, stated, 'As we pursue purpose-driven growth and innovation, our commitment remains centered on delivering long-term value to our customers, stakeholders, and the wider Omani economy. Guided by a clear roadmap, we are not just responding to market shifts—we are proactively shaping a banking sector that is more resilient, inclusive, and sustainable. Through our ongoing efforts, we are dedicated to delivering practical solutions that support the development and progress of our nation.' In the first quarter of 2025, ahlibank achieved significant milestones that underscore its commitment to driving Oman's economic growth. A notable achievement was the signing of a landmark Master Services Agreement with Petroleum Development Oman (PDO), streamlining PDO's financial operations through a customized B2B digital platform. Simultaneously, ahlibank further expanded its real estate financing portfolio through strategic partnerships, including a key collaboration with Dream Villa, the master developer of Al Ahlam District in Sultan Haitham City. Additionally, through its Islamic window, ahli islamic, the bank partnered with Al Masa Real Estate Development—the master developer of the Hay Al Azm project—in coordination with the Ministry of Housing and Urban Planning. These initiatives reflect the bank's commitment to supporting government-led urban development efforts across key regions of the Sultanate of Oman. ahli islamic also served as the lead financial advisor in the structuring and funding of the Sustainable City Yiti project, Oman's first net-zero energy city. The project reflects the bank's expertise in structuring Sharia-compliant financing solutions and its long-term commitment to green infrastructure and environmentally responsible urban development. Building on its commitment to ESG principles, ahli Islamic collaborated with be'ah to facilitate sustainable financing for environmentally responsible industrial waste treatment, reinforcing its role in supporting Oman's green economy. Together, these initiatives reflect the bank's forward-thinking approach to inclusive growth and innovation-led development. As part of its ongoing strategy to empower small and medium-sized enterprises (SMEs), ahlibank introduced a comprehensive digital solution that includes the innovative ahliPOS payment application—enabling businesses to accept payments directly through Android devices without the need for extra hardware. The offering also includes a Point-of-Sale (POS) financing program, providing flexible liquidity solutions based on payment receivables. These initiatives are designed to boost transaction efficiency and equip businesses with effective digital tools to drive growth and enhance competitiveness. During the holy month of Ramadan, ahlibank reaffirmed its strong commitment to corporate social responsibility through a range of meaningful community initiatives. For the second year in a row, the bank launched its 'Iftar Sayem' campaign in partnership with the Oman Food Bank, distributing approximately 1,000 complete Iftar meals to underprivileged families. Additionally, in collaboration with the Al Rahma Association for Motherhood and Childhood, the bank provided Eid clothing and essential household appliances to over 300 families. A standout initiative was the dedicated support for SMEs at the highly successful 'ahlibank Ramadan Souq' – Third Edition, which saw the participation of over 60 Omani entrepreneurs in cooperation with the Small and Medium Enterprises Authority (Riyada). As part of its 'Kaswat Eid' initiative, ahlibank and its Islamic window, ahli islamic, distributed new clothes to low-income families from across the Sultanate. Additionally, in collaboration with the 'Nidaa Al-Khair' team, Eid clothing and gifts were also provided to over 100 orphaned children. The bank also extended its support to the elderly by donating Eid clothes to residents of the Social Welfare Home. These efforts reflect ahlibank's unwavering commitment to creating a lasting, positive impact on the community while supporting the broader national economy. ahlibank continues to deliver meaningful outcomes for its key stakeholders through a clearly defined strategic vision. Reinforcing its focus on enhancing the customer experience, the bank recently inaugurated a new premium branch, designed to offer personalized financial services in a sophisticated, technology-driven environment. Grounded in innovation, social responsibility, and sustainable value creation, ahlibank is well-positioned to maintain its growth trajectory and play a pivotal role in shaping the future of Oman's financial sector.
Finextra
07-05-2025
- Business
- Finextra
Making an Impact: Bevis Watts on 10 Years in Sustainable Finance
Joining the virtual FinextraTV studio as part of the Unplugged series, Bevis Watts, CEO, Triodos Bank UK reflects on his last 10 years at the sustainable bank. From changing tides of industry, to moving toward the digital revolution, Watts describes his pride at the impact created and sets out his vision for the future as he steps down and away.
