Ever since the global banking crisis, financial institutions have remained under the spotlight in terms of behaviour. Scandals such as mis-selling and Libor have tarnished reputations further. Issues such as remuneration, product pricing, data privacy and the willingness to lend have meant that the sector remains under scrutiny when it comes to behaviour.
The economic environment remains challenging for financial services, nonetheless the Financial Conduct Authority remains committed to protecting the interests of consumers.
GoodCorporation has worked with financial institutions to measure how well current practices work, to benchmark them against other organisations and to put in place corrective actions where needed. We developed the auditing framework for the Banknote Ethics Initiative (BnEI), launched in 2013 to promote ethical business practices within the banknote sector and endorsed by over 30 banking institutions including the Bank of England, the European Central Bank and the Deutsche Bundesbank.
In addition to our work on the BnEI scheme, we have also worked with financial institutions to assess their integrity compliance and anti-corruption programmes. We also support our financial services clients with ethics training and run ethical conduct risk assessments.
Our clients in this sector have included: ECB, EBRD, CDC, FTSE4Good, Axa, DeLaRue, BnEI, Euromoney and other companies operating in the financial sector.