Standard Chartered Bank Taiwan has set up a council and launched initiatives to create an inclusive culture for its clients
Financial institutions are increasingly committing to promote a more diverse and inclusive work environment to help drive better internal governance, decision-making and risk management.
To raise awareness on the value of diversity and address issues of discrimination and marginalisation, these organisations are seeking opportunities to engage with internal and external stakeholders to take relevant action.
Additionally, financial institutions are now beginning to understand the significance of introducing progressive benefits that drive inclusion, improve the employee experience and help workers achieve their maximum potential. Having these benefits in place could potentially help address globally prevalent societal norms around traditional roles, improve workforce participation and provide solutions for better financial wellbeing.
Banks therefore need to shift their focus on developing local initiatives to raise diversity and inclusivity (D&I) awareness and deliver D&I messages to employees and wider communities.
Gender equality
To align with this outlook, Standard Chartered Bank Taiwan has established a D&I council aimed at promoting gender equality, disadvantaged equality and overall employee wellbeing. The council comprises more than 30 employees from different departments working towards creating a more inclusive community since 2021.
In 2023, the bank invested in developing strategies that focus on embedding diversity within its values and culture, promoting diversity in leadership and unlocking innovation to foster a positive work environment. It also focused on enhancing the banking experience of clients and contributing to thriving communities.
Standard Chartered Bank Taiwan continues to identify new D&I suppliers through the supply chain management-led procurement process. In the third quarter of 2023, the bank’s newly onboarded suppliers represented about 16% of the supply chain.
Committed to inclusion
The bank’s vision of a more diverse and equitable society extends beyond financial services. To support women entrepreneurs to grow, thrive and succeed in business through upskilling and mentorship, Standard Chartered Bank Taiwan partnered with the Garden of Hope Foundation and launched the “Women in Entrepreneurship (WiE)” initiative in 2023.
The programme offers financial incentives, supports entrepreneurs and provides the required training and workshops to help women advance in their goals. In 2023, the programme received 60 micro business applications across social inclusion, innovation technology and sustainable environment, and the top three winners were collectively awarded $54,000 in prizes.
Standard Chartered Bank Taiwan has been recognised as the winner of the Best Advance in Diversity and Inclusion Initiatives category at the Annual Retail Banker International Asia Trailblazer Awards 2024. It has also been highly commended in the Excellence in Loan Origination Process category.