Integrating Sustainability and Digitalization in the Banking Industry

This chapter delves into the impact of digitalization on sustainability in banking, focusing on transformation, access, enabling, adaptive potential, and governance. It underscores how digital technologies enhance banking operations, customer experiences, and sustainability. Research follows a three-step approach: assessing digitalization’s direct effects on sustainability, identifying areas for positive outcomes, and presenting a digital sustainability framework for banks. Key findings advocate for strategic digital transformation beyond mere tech adoption. By understanding these potentials, banks can create a sustainable, customer-centric industry. However, the chapter’s insights are based on existing literature, lacking specific case studies or empirical data. Its significance lies in guiding future research on industry-specific frameworks for digital sustainability and aiding practitioners in digital transformation strategies. Practically, it advises banks on strategic thinking, customer focus, and governance in their digital journey. Digital transformation in banking holds vast social implications, including financial inclusion and a trustworthy banking ecosystem. Uniquely, this chapter integrates sustainability into banking’s digital transformation, emphasizing the alignment of digital strategies with sustainable practices, offering a fresh perspective on sustainable digital banking.