Always part of our DNA
Sustainability has always been a part of Fineco and represents a fundamental element of our path to creating long-term value for our current and future stakeholders.
We operate by pursuing our corporate purpose: “to support clients in approaching their financial lives responsibly in order to create the conditions for a more prosperous and fairer society” and we do this by following the path of transparency, simplicity and innovation, offering clients excellent services and products at a fair price within the three integrated business areas of banking, investing and brokerage. This approach is now being accompanied by a set of ESG goals to be achieved by 2023.
Sustainability Governance
Sustainability is an integral part of our corporate governance: alongside the two main governing bodies typical of the traditional administration and control system adopted by Fineco, namely the Board of Directors - with strategic supervision functions - and the Board of Statutory Auditors - with control functions -, we established Sustainability Committees both at Board and Executive level, and created a Sustainability Team, together in charge of defining and overseeing our sustainability strategy fully integrated in our Multi-Year Plan.
Sustainability Strategy
At Fineco, we firmly believe that sustainable development is the most far-sighted and stable choice. In fact, Fineco was founded on three main pillars: efficiency, innovation and transparency, which are the key principles of our strategy, leading the way towards sustainable growth.
Our commitment to doing business in an ethical and respectful manner, integrating economic, environmental and social sustainability objectives into our long-term strategy in an increasingly structured manner, has led to the approval by the corporate bodies of a first set of ESG objectives to be pursued by 2023 within six business areas: Human Resources, Responsible Finance, Financial Education and Community Support, Supply Chain, Shareholders and Environment.
Risk management
Fineco has always promoted a solid risk culture based on shared values and consistent behaviour, which are necessary to ensure long-term sustainable profitability. The Risk Management function is responsible for identifying, quantifying and mitigating the Group's risks, using an effective and efficient centralized Internal Control System (ICS).
In line with the evolution of the company's ESG strategy, Fineco has integrated some of its main risk management tools - the Risk Appetite Framework (RAF) and the system of operational risk indicators - with specific indicators linked to strategic sustainability objectives.
Business integrity
If business is at the core of the Group’s operations, compliance and integrity are how it carries out its business activities. For this reason, the top management interprets and disseminates the culture of respect, prudence and integrity to all those working on behalf of Fineco through the Compliance Culture - Tone from the Top initiative. FinecoBank S.p.A. has also adopted an Organisational and Management Model pursuant to Legislative Decree 231/01, with the aim of providing banking and financial services to its customers while respecting the value of integrity, a Code of Ethics, an integral part of Model 231, and other policies aimed at promoting a culture of compliance in the areas of anti-corruption, conflict of interest, antitrust and unfair commercial practices, whistleblowing, human rights and tax compliance.
For the people
Employees and financial advisors make up Fineco's human capital. For this reason, the Group is committed to constantly investing in their development and growth, supporting them and creating an inclusive and sustainable working environment.
Our people
Fineco has always focused on organic growth aimed at enhancing the value of the company's people skills.
1.336 employees (42% woman)
99% employees whit a permanent contracts
15% employees working in Customer Care
77% engagement index
5% termination rate - 8% hiring rate
2.918 Personal Financial Advisor (18% woman)
214% new Personal Financial Advisor
Dati al 31/12/2022
Our employees
The goal that Fineco aims to achieve every day is to become ''The Place To Be'' for its staff; a workplace in which everyone can fully express their potential and aspirations, contributing to the success and sustainability of the business. In recent years, the Bank has also been awarded the Top Employer Italy certification, which is assigned to companies that stand out for their HR strategies and policies, offering their employees the best working conditions, demonstrating that Fineco is on the right track in this area.
Our Personal Financial Advisors
Fineco's financial advisor network represents a strategic business channel for the Bank and is based on the fundamental pillars of:
- Growth, both organically and through the recruitment of new senior and beginner financial advisors;
- Transparency and quality of the customer relationship, establishing a relationship of trust between customers and advisors, who work to find solutions tailored to the individual based on an analysis of customers' needs, requirements and expectations;
- Innovation and efficiency through the adoption of a model defined as ‘cyborg advisory’, which provides advisors with a highly evolved platform both in terms of technology and the investment solutions offered, to enable them to increase productivity, reduce the time spent on day-to-day operations, and focus on the relational aspects of the profession.
Diversity e non-discrimination
Diversity in terms of gender, thought, experience and skills represents a value that contributes to Fineco's professional enrichment, as well as an element of strength in a competitive context in continuous evolution, to be valued as a source of new ideas. For this reason, the Group has long since adopted a series of policies and initiatives aimed at promoting an environment based on equal opportunities and respect for dignity, in which under no circumstances discrimination or harassment is tolerated. The appointment of a Diversity Manager, participation in dedicated events, collaboration with Jobmetoo and continuous monitoring of the gender balance, the gender pay gap and returns from parental leave are just some of the activities implemented by the Group in this area. To confirm this commitment, in 2023 Fineco obtained the Certification on Gender Equality pursuant to the UNI 125/2022 reference practice.
People enhancement and development
The development and enhancement of human resources is a strategic factor for Fineco and, for this reason, appropriate training plans and programmes are offered on compulsory topics - such as anti-money laundering, anti-corruption, financial sanctions and consumer protection - as well as technical and behavioural ones, aimed at developing the abilities and skills of each individual. Performance Management is the tool used within the Group to guarantee that each employee has not only a transparent and objective evaluation, but also to identify future learning and development opportunities. Fineco aims, also through appropriate remuneration and incentive mechanisms, to create an inclusive working environment, able to attract, retain and motivate highly qualified resources capable of building its competitive advantage and to reward those who are aligned with its standards of constant ethical behaviour in the conduct of a sustainable business.
Welfare and dialogue with social partners
Fineco wants to support the wellbeing of its employees and their families; this is why the company's Welfare System is constantly evolving and being enriched. For example, benefits are offered that integrate the national social security, health care and work-life balance support systems, guaranteeing the well-being of employees and their families, as well as offering special conditions for access to various banking products and other FinecoBank services. The work of the Joint Commission on work-life balance, innovation and welfare also continued, with the aim of developing and improving services and initiatives in four macro areas: savings, family, work-life balance and health.
For the customers
The Group's success is based on a relationship of trust with its customers, through strict respect for professional ethics and by drawing inspiration from the principles of fairness, transparency and simplicity of services and communications.
Customer experience
In order to simplify customers' lives, FinecoBank's offering is based on the One Stop Solution concept: customers can access banking, brokerage and investment services through a single current account, through the network of financial advisors, and through online and mobile channels, which operate in a coordinated and integrated manner to meet customers’ needs and requirements. Constant dialogue with customers through Customer Care and the network of financial advisers enables a solid relationship of trust to be established, confirmed by a customer satisfaction index (TRI*M new index - Source: KANTAR Italia) of 94 points in 2023.
Information security
As a FinTech company, IT security is vital for Fineco. This is why the Group dedicates and invests significant resources in the ICT & Security Department (accounting for approx. 17% of the workforce).
Our transactional and advisory services and platforms are developed in-house with proprietary technologies, which gives us a very high level of control over evolutionary dynamics, allowing us to adapt quickly to new developments. Internal policies and processes to ensure information security cover cyber security, operational security, data and identity management, anti-fraud solutions and security governance.
Financial education
In recent years FinecoBank continued the strengthening of activities aimed at increasing financial education, involving both customers and prospects in such initiatives. Also in 2023 FinecoBank contributed to the Financial Education Month in October by organising in-depth discussions on the subject of savings and supplementary pensions. The customer events, were also further developed digitally and involved significantly more participants than the in-person initiatives
160
Webinar
211
Video pillole
1.358
Eventi consulenti
63.300
Clienti e prospect coinvolti
Responsible products and investments
With reference to the Investing area, advisory services are focused on offering solutions that take ESG criteria into account during the creation of model portfolios with the support of ESG ratings.
Regarding Banking and Credit Products, the process of dematerialising processes and services continues by favouring digital and paperless-based processes, and the offer of products to support energy efficiency is expanded with the introduction of the Green Loan which is added to the already consolidated Green Mortgage. The increasing integration of sustainability criteria into the investment process is also a priority for Fineco Asset Management, which is reflected in the ''No performance fees'' label and the offering of products such as Diversity And Inclusion FAM Fund and Global Sustain Paris Aligned FAM Fund.
For the environment and the community
The commitment to comply with all environmental regulations and codes of self-discipline and to minimise the direct environmental impacts produced has always been accompanied by support for concrete community solidarity projects.
Reducing environmental impacts
The FinecoBank Group concentrates its efforts to minimise its environmental impact, focusing on dematerialisation processes, through innovations that significantly reduce paper flows and related emissions, the adoption of energy efficiency measures and initiatives to promote sustainable mobility. In September 2022, Fineco obtained the EMAS Registration, a recognition that certifies the excellence of its Environmental Management System, implemented throughout the whole Italian perimeter of corporate offices and Fineco Centers, according with the requirements of the EMAS Regulation No. 1221/2009/EC. Still in 2022, Fineco expressed its commitment to combating climate change, by setting the important goal of achieving its net zero CO2 emissions status by 2050.
Preservation and enhancement of the artistic and cultural heritage
Consistent with its business model, which is geared towards the creation of sustainable value and the protection of assets with a long-term vision, FinecoBank supports the protection and safeguarding of Italy's artistic and landscape heritage through its collaboration with FAI - Fondo per l'Ambiente Italiano since 2017.
Caring for the Earth
In 2021, the Bank also launched a sustainability initiative in support of the LifeGate PlasticLess® Project, which aims to reduce pollution in Italian seas through the collection of plastic waste in the waters of ports and nautical clubs.
For the 2022 Christmas charity campaign, Fineco, together with donors, supported Mosaico Verde, the Legambiente initiative to create new green areas and restore the Italian forest heritage. The Bank's contribution enabled the creation, in March 2023, of Fineco Wood, in an area of the Piemontese Po National Park in the Municipality of Casale Monferrato (AL).
In 2023 Fineco with its Ambassador Club, an excellent team made up of the Private Bankers of its Network of consultants, and with the collaboration of Lifegate, launched a challenge to support projects capable of having a positive social and environmental impact, investing in technology as an asset at the service of human beings.
In 2023 Fineco becomes Water Defender by joining the Water Defenders Alliance, the alliance promoted by LifeGate to concretely respond to the problems of our waters and reduce pollution of Italian seas.
Fineco Impact Challenge
In 2023 Fineco with its Ambassador Club, an excellent team made up of the Private Bankers of its Network of consultants, and with the collaboration of Lifegate, launched a challenge to support projects capable of having a positive social and environmental impact, investing in technology as an asset at the service of human beings.
Enhancing urban areas
Fineco is also committed to enhancing urban areas through street art.
The initiative is part of a broader project to redevelop the city of Milan, where the Bank is committed to working on green areas.
By combining art and advertising through the works of artists, Fineco is interpreting its identity values that are closest to it.
Looking back at the past to move forward towards the future, restoring traditions and learning through technological innovation are the main themes of Fineco's message, a message of hope and confidence in the future.
Charity initiatives
Since its foundation, Fineco has been committed to supporting effective charitable projects in various areas, including social and health care, training, education, culture and art, scientific research and environmental protection. Besides the donations it makes throughout the year, the most important charitable event is the Christmas Charity Campaign “Christmas with Fineco”, promoted on the Fineco website. In addition to the donations made by the Bank in favor of projects promoted by selected charitable organizations every year, the campaign also allows customers and non-customers to make donations. Recently, the Bank has also supported some associations engaged in important solidarity projects with the Ukrainian population, affected by the tragedy of war, with the populations of Turkey and Syria, victims of the earthquake and with the population of Emilia-Romagna, affected by the flood.
Support for women victims of gender-based violence
Fineco reaffirms its social commitment to women victims of gender-based violence. By signing the Memorandum of Understanding between ABI and Fabi, First-Cisl, Fisac-Cgil, Uilca and Unisin Falcri Silcea Sinfub, Fineco will be able to provide tangible help to women in vulnerable situations who are experiencing economic difficulties by suspending the payment of mortgage and loan instalments.
Fineco in support of sport
Fineco is embracing sporting values by supporting the Italian Serie A Women's Volleyball League, becoming the new Gold Sponsor of the Coppa Italia 2024 and the Serie A Championships for the 2023-24 and 2024-35 seasons and taking on the role of Title Sponsor for the upcoming Supercoppa Italiana 2024.
Rating ESG
Fineco is an S&P Sustainability Yearbook Member 2023, i.e. considered among the best banks in the world in terms of sustainability by the rating agency S&P.
MSCI confirmed FinecoBank's ESG rating at “AA” (leader), on a scale ranging from “CCC” to “AAA”.
Fineco obtained “B” in the first compilation of the CDP Climate Change questionnaire, demonstrating that it addresses the environmental impacts of its activities and ensures good environmental management.
Fineco’s overall ESG score from Moody’s Analytics increased to 57 out of 100 .
Refinitiv assigned to Fineco an ESG rating equal to 84 points out of 100, which indicates excellent ESG performance and a high degree of transparency in public sustainability reporting.
The Standard Ethics Rating has been confirmed at “EE+”, a “very strong compliance”with international guidelines, assigned to sustainable companies with a low reputational risk profile and strong long-term growth prospects.
Fineco is among the best international banks according to the ESG risk assessments of Sustainalytics, with an ESG Risk Rating of 13.2 (Low risk).
Indici ESG
FinecoBank is included in the MIB® ESG Index, the first ESG (Environmental, Social and Governance) index dedicated to Italian blue-chip companies that reflects the performance of the top 40 companies demonstrating strong environmental, social and governance practices among the top 60 Italian liquid companies.
In June 2020, FinecoBank has become a constituent company in the FTSE4Good Index Series, a set of indices managed by the FTSE Group that identify and measure the ESG performance of organisations committed to good environmental, social and governance sustainability practices.
S&P Global 1200 ESG index
FinecoBank is included in the S&P Global 1200 ESG Index, based on the results of the S&P Corporate Sustainability Assessment and designed to measure the performance of securities that meet sustainability criteria, while maintaining overall weights similar to those of the S&P Global 1200 index.
The Group is included in the 2023 Bloomberg Gender Equality Index (GEI) which tracks the financial performance of companies that are committed to supporting gender equality through fair and transparent development of management and representation policies.
External initiatives
In December 2020, FinecoBank SpA became a signatory to the United Nations Principles for Responsible Banking, formalising the objective of committing to analysing the consequences of its activities from an environmental and social perspective, and setting goals capable of bringing about measurable improvements in the most significant aspects.
FinecoBank has been a signatory to the United Nations Global Compact Principles and a member of the respective Italian Network since September 2020. The objective of these principles is to develop a long-term sustainable business capable of handling the challenges of climate change and future socio-economic impacts, by adhering to the Ten fundamental Principles on human and labour rights, environmental protection and combating corruption.
On 14 October 2020, Fineco Asset Management DAC became a signatory to the United Nations Principles for Responsible Investments, in the “Investment Manager” category, reinforcing its commitment to the development of a sustainable financial system by integrating social, environmental and good governance criteria into its investment practices.
In 2019, FinecoBank signed an Association Agreement with Valore D, an organisation with a network of over 180 companies committed to ensuring an inclusive culture within organisations. Thanks to this partnership, Fineco participated in specific training courses aimed at promoting female talent within the company (Young Talent, Middle Management and Senior Management programme).