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The latest CSR trend in fintech: how technological companies help build a more sustainable future

8 February 2023

Winston Churchill famously said: "We make a living by what we get, but we make a life by what we give". This approach seems to be behind the global transformation of businesses towards a more society-oriented model that tries to ensure that the local community and, more broadly, the world thrives. With that aim in view, some companies effectively reduce their carbon footprint. For instance, Mercedes-Benz Group’s Ambition 2039 strategy involves shifting to a fully electric vehicle fleet. Other companies aim to support local communities facing challenges often related to education, infrastructure, and environmental conditions.

What does this trend, or rather a new societal norm, have to do with fintech companies? In what ways can they help, and what actions do they already take to improve our world? This article aims to answer these questions for emerging and already established fintech companies, as well as for their clients.

Fintech companies and corporate social responsibility

Fintech companies can advance social causes in several unique ways: from bringing financial services to people who have not had access to them to promoting financial literacy. Here are some of the most pressing issues fintech companies are already addressing:

Other charitable activities major fintech companies are involved in include environmental projects, such as HSBC’s efforts to help preserve Taipei’s Guandu Nature Park in Taiwan, emergency aid and various initiatives corresponding to the UN’s Sustainable Development Goals.

The latest CSR trend in fintech: how technological companies help build a more sustainable future

What can just one fintech company do to advance social causes worldwide?

Let’s take one fintech company to illustrate the CSR approach in fintech and its impact. In 2022, the international Forex broker OctaFX directed its efforts at helping local communities overcome global challenges. Here’s what it managed to accomplish:

In total, OctaFX helped more than 6000 people across multiple countries, including India, Indonesia, Malaysia, Mexico, Nigeria, and Pakistan. Some of the most impressive projects included the following:

The current CSR trend in the fintech industry is set to expand, while both stakeholders and employees expect their values to align with those of their companies. As more companies start to actively participate in socially beneficial projects, we become yet closer to a more sustainable, educated, and healthy future for the world.

OctaFX is a global broker providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 150 countries with more than 21 million trading accounts. Free educational webinars, articles, and analytical tools they provide help clients reach their investment goals.
The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities and small to medium enterprises. On a side note, OctaFX has also won 60 awards since its foundation, including the ‘Best Online Broker Global 2022’ award from World Business Outlook and the ‘Best Global Broker Asia 2022’ award from International Business Magazine.

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