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Sustainable Smart Services for Financial Institutions: A Framework to Support Banks in ESG Integration in the Risk Analysis Process of Loans

In: Smart Services Summit

Author

Listed:
  • Sabrina Urban

    (Vorarlberg University of Applied Sciences, Josef Ressel Centre for Robust Decision Making)

  • Nicola Moosbrugger

    (Vorarlberg University of Applied Sciences, Research Centre Business Informatics)

  • Michael Hellwig

    (Vorarlberg University of Applied Sciences, Josef Ressel Centre for Robust Decision Making)

  • Martin Dobler

    (Vorarlberg University of Applied Sciences, Research Centre Business Informatics)

Abstract

Through mandatory ESG (environmental, social, governance) reporting large companies must disclose their ESG activities showing how sustainability risks are incorporated in their decision-making and production processes. This disclosure obligation, however, does not apply to small and medium-sized enterprises (SME), creating a gap in the ESG dataset. Banks are therefore required to collect sustainability data of their SME customers independently to ensure complete ESG integration in the risk analysis process for loans. In this paper, we examine ESG risk analysis through a smart science approach laying the focus on possible value outcomes of sustainable smart services for banks as well as for their (SME) customers. The paper describes ESG factors, how services can be derived from them, targeted metrics of ESG and an ESG Service Creation Framework (business ecosystem building, process model, and value creation). The description of an exemplary use case highlighting the necessary ecosystem for service creation as well as the created value concludes the paper.

Suggested Citation

  • Sabrina Urban & Nicola Moosbrugger & Michael Hellwig & Martin Dobler, 2023. "Sustainable Smart Services for Financial Institutions: A Framework to Support Banks in ESG Integration in the Risk Analysis Process of Loans," Progress in IS, in: Jürg Meierhofer & Shaun West & Thierry Buecheler (ed.), Smart Services Summit, pages 143-151, Springer.
    • Handle: RePEc:spr:prochp:978-3-031-36698-7_15
    DOI: 10.1007/978-3-031-36698-7_15
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