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

Sabrina Urban (), Nicola Moosbrugger (), Michael Hellwig () and Martin Dobler ()
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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

A chapter in Smart Services Summit, 2023, pp 143-151 from Springer

Abstract: 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.

Keywords: ESG; Sustainable smart service; S-D logic; SME; Financial institutions (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-3-031-36698-7_15

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