Abstract
Overview
Since Javelin Strategy & Research extolled the environmental benefits of
online banking and bill-pay in 2003 with what we believe was the nation' s
first research report on green banking, environmental issues have grown in
importance with bank customers. Green-banking habits have yet to take hold,
however. That' s largely because consumers aren' t aware of how they can make a
difference and partly because financial institutions have yet to find the
incentives and action steps that will compel indifferent consumers to join the
green parade. Javelin' s analysis suggests that consumers can be divided into
three camps - Greens, Moderates and Skeptics - based on their inclination to
respond to green marketing and value green banking initiatives.
Primary Questions
- Do consumers value "green" banks?
- What are the risks of green banking?
- Which customers are green, who' s not - and who could be swayed to adopt
more eco-friendly banking habits?
- How can banks sculpt marketing campaigns to greenminded customers and
those who are ambivalent about such messages?
- Where should banks and credit unions start as they evelop green products?
Methodology
This report is mainly based on data collected online from a random-sample
panel of 2,350 households in March 2008. The survey targeted respondents based
on representative proportions of gender, age and income as compared to the
overall US online population. Overall margin of sampling error is ±2.86
percentage points at the 95% confidence level. Data was supplemented by ten
executive interviews of green bankers and green payment providers.
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