Corporate social responsibility and financial inclusion

Corporate social responsibility and financial inclusion

Strategies that promote access to financial services for all

Change isn’t just coming—it’s already here. From pandemic-related challenges to racial and social injustices, recent events have shone a spotlight on the urgent need for financial institutions to advance financial inclusion initiatives. Expanding access to affordable financial services for underserved markets doesn’t just recognize a moral imperative, but a business one as well. As the human-centered future of financial services becomes increasingly positioned around customer needs, wants, and social priorities, leading with heart and humanity will be integral to success. We can help you lead the way, with financial inclusion efforts that create a higher bottom line for all.

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Our vision for a higher bottom line

Financial inclusion is a critical consideration in defining an organization’s corporate social purpose. As a more human-centric economy rapidly takes shape, financial services organizations must heed the call to engage with a broader array of customer, employee, and community stakeholders in more direct, personalized, meaningful, and socially responsible ways, leading to:

Bridging the financial inclusion divide digest

As policymakers increasingly take action to bridge the financial equity gap, financial services industry leaders are recognizing the responsibility-and opportunity-of financial inclusion strategies. In this digest issue learn about regulatory developments regarding how bias in complex algorithms is impacting consumer protection laws and insurance claims, and other notable regulatory advances in the areas of real estate, banking, and investment management.

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Advancing CDFIs as a path to financial equity

Community Development Financial Institutions (CDFIs) empower individuals and communities by meeting them where they are, when the needs are significant, and resources are low. Yet despite the shared vision of a more inclusive financial system, CDFIs and their stakeholders may differ on how to best track progress. To foster more alignment across these perspectives, Deloitte research has identified five areas to help CDFIs highlight progress, identify challenges, and ultimately achieve their goals.

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Additional information on human rights, environmental and social risk management, and nature risk

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Deloitte's Human Rights Capabilities

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Environmental and Social Risk Rating (ESRR) Methodology

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Nature and biodiversity

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Reshaping the future of financial services

It’s a complex time for the financial services industry, with many uncertainties still ahead. The bottom line is evolving. It’s no longer simply the sum of earnings and losses, the lone determinant of a business’s ability to succeed or fail, innovate or stagnate. It’s blurring the line between the striving and the successful until there’s less inequality and more shared wealth.

Deloitte can be your partner in navigating financial inclusion and working to provide access to financial services for all. Help your organization improve its bottom line by exploring the full suite of our future of financial services insights.

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