Fast Facts: Student Loans

January 22, 2013
/   Insights

The Financial Services Roundtable recently released another iteration of its Fast Facts, reliable, bullet-point research about issues facing the financial services industry. Topics span TARP, Dodd-Frank, insurance, lending, retirement savings and more.  Below are some updated Fast...

Cause and Effect: If you build it, will they come?

July 23, 2014
/   Spotlight

Many financial institutions assume that digital banking is lucrative because the most valuable customers happen to bank online. While there is certainly a correlation between online bankers and higher profitability, quantitative evidence suggests that...

Intuit 2020 Report: The Future of Financial Services

April 11, 2011
/   Insights

Today, Intuit released the latest edition of the Intuit 2020 report, Intuit 2020 Report: The Future of Financial Services, which identifies and examines four key trend areas that will  transform the financial services industry...

The Top 10 Trends in the Digital Banking Industry

December 18, 2013
/   Spotlight

2014 is rapidly approaching and as the year wraps, the Digital Insight team has pulled together the top 10 trends in the digital banking industry based on data and trends from studying financial institutions....

Small Business: Perception vs. Reality

November 21, 2012
/   Insights

In the most recent election cycle, like most others before it, the one sector of the economy that got the most attention was small business.  This is the future, we were told by every...

Industry Perception, Optical Delusion

January 14, 2013
/   Insights

In Washington, they talk a lot about ‘optics.’ This has nothing to do with regulatory scrutiny, or government mandates on eyeglasses. It has to do with perception—how something looks, the way a particular story...

Social Banking: Blessing or Curse?

August 1, 2012
/   Insights

While the topic of Facebook and banking has generated plenty of heat (though not necessarily a lot of light), the debate seems mostly focused on two broad issues: The much-maligned IPO, and the notion...

Mobile Banking Engagement: Data from Digital Insight

June 24, 2013
/   Spotlight

Intuit Financial Services has been conducting a comprehensive and ongoing study of financial institution customers. From these studies, the company has been able to provide a deeper view of banking customer behavior across several...

“Go Green” Corporate Social Responsibility (CSR) initiatives have become more prominent as large corporations look to boost their images, and help various charities and organizations across the United States. Citibank is the latest financial institution to launch a new initiative that  will assist thousands of New Yorkers in going green.

Citibank is not alone in their initiative; they teamed up with MasterCard to create the “Citi Bike initiative,” a non-public funded program, which Citi will be spending $41 million over the next five years to sponsor. The program, scheduled to launch in July 2012, will distribute 10,000 Citibank-branded bikes at approximately 600 stations in New York City. In addition to their efforts to go green and provide a healthy commute, Citi Bike will be demonstrating a positive social impact by dividing any profits the program generates between the operator of the bike share service and the city of New York.

Sound complicated? The process of renting a Citi Bike is simple, and inexpensive. Riders can purchase one of three rental passes: 24-hour, 7-day or annual. To unlock their bikes from any of the estimated 600 docks, annual riders will be given a physical key, while 24-hour and 7-day riders will be given a temporary code. The return is just as simple, riders will be able to give back their borrowed bikes at any of the city-wide docking locations. For more information on the Citi Bike program, check out the full story at TheFinancialBrand.com.

Like Citi, many banks across the nation have caught wind of the benefits CSR initiatives can bring to companies and communities, and have taken action in their own creative ways. Another example is Bank of America, who supports hunger relief by partnering with Feeding America to support their nationwide food distribution and consumer outreach programs.

Does your city have a bike share program? What creative CSR initiatives does your FI take?  Let us know in the comments section below, or Tweet @bankingdotcom.

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James W. Gabberty

Gabberty is a professor of information systems at Pace University in New York City. An alumnus of the Massachusetts Institute of Technology and New York University Polytechnic Institute, he has served as an expert witness in telecommunication and information security at the federal and state levels and holds numerous certifications from SANS & ISACA.

Marisa Mann

Marisa Mann brings over 15 years of experience in consulting and financial services industries to the Solstice team, working on large scale enterprise initiatives across many technologies, including specializing in the digital space – Internet and mobile. Mann is passionate about mobile and the endless possibilities for the enterprise, delivering business value through strong brand recognition and driving to excellence in the consumer experience. Prior to Solstice, Mann worked at JP Morgan Chase, Diamond Management and Technology Consultants, Washington Mutual, Inc, and Accenture.

Zachary Ehrlich

25-year-old writer, and as a native San Franciscan, I am unreasonably loyal to Bank of America, if only for their superhero-like origin story, involving the 1906 earthquake and Italian fruit vendors.

Brad Strothkamp

http://www.forrester.com/rb/analyst/brad_strothkamp