The banking society

17 Dec The banking society

How should we understand the social impact of banking? An article in Prospect Magazine takes a look at the intimate interaction between banking and society, and the potential social impact of financial services. Whilst financial inclusion is often seen as the primary potential positive impact of banks, the author argues that this is only part of the story: ‘Isn’t it also a question of what individuals and communities are able to achieve by having access to those services, and how it improves their material and mental well-being?’ The article also highlights the importance of banks measuring their impact, and using the data they hold on customers to support financial resilience.

Read more on Prospect.