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Sustainable Development through Green Innovative banking 3p’s


The study examines the role play by banks in sustainable development through green innovative 3P’s (products, paths and processes). The study is a cross-sectional survey of deposit money banks’ customers in Akure metropolis. The relative effectiveness index (REI) and Pearson correlation were used to capture the effectiveness and the association existing between the 3P’s and sustainable development. The study found that automated teller machine, mobile banking application, mobile/SMS banking or short code banking, point of sales (POS), email, social banking and online banking are the major green innovative banking 3P’s common to banks. These 3P’s are more effective in areas of installation/first use experience/registration, quality and performance of the expected services unlike network/service availability, bank’s response to complaint from usage of the product and cost of usage that are of least effectiveness. The 3P’s effectively contribute to easy access to fund for business transactions, respect for human right and financial inclusion among others. Effective green innovative banking 3P’s contribute significantly to sustainable development with a positive correlation of 0.367 and a significant probability value of 0.004 less than 0.01 (1-tailed). Despite the level of effectiveness of these 3P’s customers still complain about delay in the replacement of ATM cards, frauds associated with the use of green innovative banking 3P’s and inaccessibility of service centres to visually impaired people which is the reason why the study recommended timely response to complaints on the 3P’s concerned as this is a major way to improve their effectiveness.


Sustainability, sustainable development, green banking, innovation, product, process, path

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