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Ethical Banking to Acquire Mass Affluent Consumers

Ethical Banking to Acquire Mass Affluent Consumers


Banks have been slow to recognize the demand for ethical products; however, consumers are increasingly factoring environmental and social issues into their decision-making.


  • Consider the demand for ethical banking and develop well-designed products.
  • Acquire an understanding of mass affluent consumers' needs and ways to cater to these.
Reasons To Buy
  • How can providers make money from serving mass affluent consumers?
  • What should providers consider when serving the mass affluent?
  • How does ethical banking attract the mass affluent segment?
Key Highlights

Ethical offerings could be deepened to appeal to a greater number of well-off individuals with the resources to commit to high-impact social investment.

For banks, the higher growth among the mass affluent segment provides a significant opportunity. Mass affluent individuals are more likely to have higher balances and require niche products, providing additional revenue opportunities as well as improved scale.

  • Executive Summary
    • Realizing the potential of the mass affluent through ethical products is a significant opportunity for banks
    • Key findings
    • Critical success factors
  • Introduction
    • The mass affluent are low-hanging fruit and providers need to be clear about their propositions
    • Ethical products and services will interest the growing mass affluent segment
    • Competitive pricing and ethical products must clearly communicate the value they bring to the mass affluent
      • Criteria for defining the ethical performance of financial institutions
  • Ethical Banking is Beginning to Enter the Mainstream
    • Ethical banking provides a chance to stand out from the rest
      • Old National Bank is committed to an ethical approach
      • HSBC China adheres to international standards in sustainable lending through dedicated Resources
      • Cultura Bank treats the economic viability of projects as a prerequisite for financing
    • Banks should develop ethical financial products to better serve and capture this niche group
      • Ethical investors are likely to be affluent and there is a need to innovate with ethical financial products
      • A range of practical, simple, and well-designed ethical products is key
    • Ethical finance through pension fund holdings could bring about positive change
    • Developing socially responsible investments to attract mass affluents
      • Triodos Bank strictly invests in companies with sustainable business models
    • P2P lending and other social models can open up a vast pool of opportunities
      • Ecology Building Society promotes innovative partnerships for individual entrepreneurs and small businesses
    • Banks should move beyond the minimum corporate social responsibility
      • Charity Bank provides low-cost loans to social enterprises on terms they can afford
    • A relationship-driven approach is important to attract mass affluents
      • Triodos Bank follows a community-based approach to make a positive impact
      • Ecology Building Society provides an enhanced customer experience to reach tech-savvy and time-constrained customers
  • Appendix
    • Abbreviations and acronyms
    • Bibliography
    • Further reading

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