O-Bank
Taipei, Taiwan
October 2017
Deposit bank - Developed Markets
Service with Minor Environmental Footprint
China,
Hong Kong S.A.R.,
Taiwan,
United States
Founded in 1999, O-Bank Co., Ltd., formerly known as Industrial Bank of Taiwan (IBT), has had a deep-rooted conviction in financial inclusion and innovations. After mainly serving corporate and institutional clients for more than a decade as a boutique investment bank, the Bank formally restructured and changed its name to “O-Bank” in 2017, entering the retail banking market and aiming to provide consumers a convenient, reliable, and user-centric banking experience with the help of digital financial technology. As the first native digital bank in Taiwan, O-Bank provides innovative and inclusive financial products and services that aim to serve the underserved.
Overall B Impact Score
Governance 14.6
Governance evaluates a company's overall mission, engagement around its social/environmental impact, ethics, and transparency. This section also evaluates the ability of a company to protect their mission and formally consider stakeholders in decision making through their corporate structure (e.g. benefit corporation) or corporate governing documents.
Workers 31.6
Workers evaluates a company’s contributions to its employees’ financial security, health & safety, wellness, career development, and engagement & satisfaction. In addition, this section recognizes business models designed to benefit workers, such as companies that are at least 40% owned by non-executive employees and those that have workforce development programs to support individuals with barriers to employment.
Community 14.4
Community evaluates a company’s engagement with and impact on the communities in which it operates, hires from, and sources from. Topics include diversity, equity & inclusion, economic impact, civic engagement, charitable giving, and supply chain management. In addition, this section recognizes business models that are designed to address specific community-oriented problems, such as poverty alleviation through fair trade sourcing or distribution via microenterprises, producer cooperative models, locally focused economic development, and formal charitable giving commitments.
Environment 12.4
Environment evaluates a company’s overall environmental management practices as well as its impact on the air, climate, water, land, and biodiversity. This includes the direct impact of a company’s operations and, when applicable its supply chain and distribution channels. This section also recognizes companies with environmentally innovative production processes and those that sell products or services that have a positive environmental impact. Some examples might include products and services that create renewable energy, reduce consumption or waste, conserve land or wildlife, provide less toxic alternatives to the market, or educate people about environmental problems.
Customers 20.3
Customers evaluates a company’s stewardship of its customers through the quality of its products and services, ethical marketing, data privacy and security, and feedback channels. In addition, this section recognizes products or services that are designed to address a particular social problem for or through its customers, such as health or educational products, arts & media products, serving underserved customers/clients, and services that improve the social impact of other businesses or organizations.