Banking is always about people

Elderly people who risk being left behind as a result of digitalisation. Young people who fall victim to crime rings. People of all ages who suffer discrimination. Who are exploited by their employers. Who are unable to keep up with society and so are at risk of losing touch. These are some of the stories that are collected in the publication Embedding social impact – Addressing social challenges in practice, which will be published this week.

The publication highlights a number of initiatives that ABN AMRO has undertaken in the area of social impact, described by passionate colleagues talking about what they do. Although it contains only a small selection of stories, they reflect the scope and importance of the issue. With five million clients using our Retail Banking services alone, ABN AMRO can play a role in a wide range of social issues. We talked to two of the bank’s people who work on social impact every day: Group Sustainability’s Gitte Wouters and Ruben Zandvliet.

What was the reason for publishing social impact stories?

Gitte: “Social impact is one of the spearheads of our sustainability agenda, together with climate change and the circular economy. The other two issues are pretty firmly embedded in the organisation, with clearly stated ambitions and goals and now we’re taking the next step on social impact. The bank already does a lot around this topic, and we thought that it would be a good idea to highlight some of these initiatives, explain how we work and hear from some of the stakeholders. On the one hand to raise awareness of the scope of social impact and the role we can play as a bank, and on the other to make people think of ways of expressing that role.”

Social impact seems to resonate especially strongly with people right now.

Ruben: “Covid has given social impact a new dimension. People have become more interested in social challenges. It’s made us realise how vulnerable we are, that anyone could find themselves struggling to get by. People are vastly more aware of vulnerability. Take problem debt, for example: your situation might change from one day to the next, and all of a sudden you find yourself with money problems. Covid has also turned the spotlight on social problems that previously went unseen – migrant workers in slaughterhouses, for example. When those became hotbeds of coronavirus infections, they came under government scrutiny, which revealed the abusive living and working conditions.”

ABN AMRO describes social impact as being about equal opportunities, financial inclusion and financial resilience. Could you explain that?

Gitte: “Those are the three themes that we use to define social impact. This means that we’ve selected social themes where, as a bank, we can make an impact and add value. The definition is in fact very broad, and it covers themes such as human rights and diversity. Basically it’s all about helping vulnerable groups or people in vulnerable positions.”

Which of the stories did you find the most moving?

Ruben: “The story about exploited migrant workers moved me, partly because I work on this together with Business Services colleagues at Commercial Banking. It shows that the bank has two ways of making an impact: by initiating a dialogue about human rights with our clients, such as temp agencies, and recognising our own responsibility, for example in the client acceptance process. But we can also share our input on policy and legislation with the government and other organisations, drawing on our sector expertise to rectify abusive situations. So it’s a combination of keeping our own house in order and making an impact outside the bank itself.”

Gitte: “I was deeply touched by the story about our colleague Gudy van der Wal putting her heart and soul into helping seniors who are struggling to adjust as society becomes more digital and branch offices close. When Covid made it impossible for our care coaches to make house calls to clients, Gudy immediately set about organising a help line for seniors, so that we could still stay in touch. I think that this is a perfect example of social impact. It also shows that social impact is never ‘finished’ and that you always need to keep looking to what’s happening in people’s lives and anticipating their needs.”

Will social impact make us any money?

Gitte: “That’s a fair question. I’d say yes, it can. But social impact is first and foremost part of our role and responsibility as a bank. Our duty of care. But it does come with a number of income models – take the story about equal opportunities for women, for example. If we align our services better to women’s wishes, needs and ideas, we can make money from it. But the social value that such a step adds is just as important to us.”

According to the critics, social impact is nothing but window dressing for a bank trying to improve its reputation.

Ruben: “The stories in this publication demonstrate otherwise. We tell the true story about what we’re doing, and what still remains to be done. Two years ago, the bank launched a strategy of sustainability. This opened us up to criticism, because that’s not something that you can implement from one day to the next. It also triggers whole series of dilemmas. Take Gudy’s privacy dilemma for instance: if she had more information about her clients, she could help them better. But the privacy laws are there for a reason too. We’re open and honest about these questions and dilemmas, and this makes us vulnerable to criticism. It’s all part of the growing pains of a sustainability strategy. We still have our work cut out for us, but we’re making good headway.”

What do we hope to achieve with this publication?

Gitte: “We want to challenge our colleagues to share their own ideas for social impact. Our people are our sensors in society, they see what clients’ needs and vulnerabilities are and they can link those needs to the bank’s operations. Banking is always about people. That’s why everyone at the bank has a role to play when it comes to social impact. At the same time, we also want to improve our society’s and our clients’ awareness of what we’re doing, and how they can benefit. Sven Romkes’ story shows how we’re working to open up employment opportunities for people with a disability and encouraging our clients to do the same. We want this publication to fuel inspiration and partnerships within the bank and beyond.”