Journal Press India®

International Journal of Management Issues and Research
Vol 13 , Issue 2 , July - December 2024 | Pages: 58-63 | Research Paper

Digital Transformation in Banking Led a Support towards an Environment, Social and Governance (ESG): A Review Study

Author Details ( * ) denotes Corresponding author

1. * Munnu Prasad, Assistant Professor, Department of Commerce and Management, School of Allied Healthcare and Sciences Jain (Deemed-to-be )University, Bengaluru, Karnataka, India (munnuprasad.r@gmail.com)
2. Nethravathi K, Asst Prof, Bachelor of Management Studies, Jain University, Bangalore, Karnataka, India (nethrarajendra@gmail.com)
3. Rakshita Allappanavar, Assistant Professor, Center For Management Studies, Center For Management Studies, JAIN(Deemed to be University), Banglore, Karnataka, India (rakshitha.ma.23@gmail.com)

Digital transformation in banking via technology-driven transformations, “green” practices in line with the ESG principles, has transformed banking like nothing else. This study is based upon a literature review and primary data of the form of personal interviews with key officials dealing with various functions, to examine the feasibility of such changes and its impact on ESG goals. Although based on a small sample size, the findings reveal that digitization enhances decision-making processes across all levels of banking management, supporting sustainability initiatives and fostering societal development. Digital tools have transformed the way banking services are accessed, leading to growth in the industry and responsibility towards the environment. The use of secure, efficient, and confidential digital systems fosters trust and inclusivity, allowing the banking sector to address the changing needs of society more effectively. ESG principles incorporated into daily operations make digital banking a catalyst for sustainable development, not only for the industry but also for the environment and society.

Keywords

Digital Transformation; Banking; Support; Environment; Social; Governance

  1. Institute for Development and Research in Banking Technology. (2024). Retrieved from https://www.idrbt.ac.in/
  2. Manchanda, R., & Abidi, N. (2024). Consumer behavioural intention and decision-making for fintech loan: A comprehensive review and analysis. In Banktech 4.0: The next wave of transformative banking (pp. 41–62).
  3. PwC. (2024). Environmental, social, and corporate governance (ESG) reporting. Retrieved from https://www.pwc.com/sk/en/environmental-social-and-corporate-governance-esg/es g-reporting.html
  4. Taneja, R. M. (2015). Business intelligence in banking sector: A step forward to customer delight. Management Guru: Journal of Management, 2(2), 32-36.
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