- Innovability path, open banking, and the VC’s role.
Sustainability is the key to guarantee companies’ future. With the transformation process in which companies and banks are reviewing business models and organizational processes to orient themself towards sustainable development, spreading economic versus real social value and improving the reduction of environmental risks.
In recent years there have been important changes by citizens towards more sustainable habits: from reducing the use of plastic, the more frequent use of public transport, to the purchase of brands whose materials are sustainable and offer ethically produced goods.
Above all, banks and financial institutions play an important role in encouraging virtuous behavior and responsible consumption that contribute to the fight against climate change.
Open Banking positions itself as a driving force driving companies by supporting them in complying with regulatory requirements to support environmental balance, and in mapping investments, understanding the risk profile of their customer base, and accessing loans to finance change in the society as a whole.
The need for data underlies many of these situations. Open Banking is used by various companies, including startups, offering simpler instant payments, more timely management of loans, and the possibility of viewing all the assets owned, in a single view.
Talking about fintech allies, Venture Capital is a growing type of investment, interested in supporting young innovative companies with broad growth prospects, is getting closer and closer to sustainability issues.
Most of the investments took place in the fields of technology and innovation, mainly related to information and communication (ICT), financial services (fintech), health and biotechnology (life sciences), and energy. In fact, Venture Capital Funds associated with sustainability make it possible to identify companies that offer innovative solutions to major environmental and social challenges.
From here it is possible to speak of “ innovability “ a term that represents the deep link between innovation and sustainability. This concept was considered as an opposite force in the implementation of technological and industrial innovations and was considered as one of the main causes of natural resources consumption.
Luckily, today sustainability and innovation go hand in hand, one is fueled by the other. Innovation can be decisive for improving the environment in which we live. The need to develop business models that are innovative but also sustainable is spreading more and more and it seems like we as a world population really need it.
Sustainable innovation brings together the protection of the environment and natural ecosystem, aiming to provide essential service goods that ensure the achievement of objectives of social value such as public health, equality, and environmental justice.
It is the wave of innovation that pushes society towards clean technology, the green economy, and clean trade.
Only by working together, sharing mission and positive goals on the strategy and objectives is it possible to make a difference.
