A roadmap for reaching the climate target for two business areas
The big why
The mobility sector and the financial sector are both going through big changes as both sectors have an important role to play in the sustainability transformation. Consumers’ behaviors and opinions are slowly changing, and investors are putting pressure on companies and expecting action.
The Challenge Today
As a niche bank in the mobility sector, Volvofinans Bank sees the changes in the industries from both directions. Today the business model is based on a logic that will need to change to be relevant in a sustainable future. They want to be a part of the solution and have formulated a vision and targets, but the way to achieve the targets was unclear.
As the way to achieve the vision was unclear, it made the organization hesitant to carry out initiatives and afraid of being perceived as greenwashing even though the intention is genuine. The customer group is aging and there is a need to be relevant to a wider customer group, and find new business opportunities that are relevant for that group.
The Solution
Xvii helped Volvofinans Bank first analyze the current state and what was needed to realize the vision, and then continued working with two business areas to help substantialize the vision and how the business areas can contribute the overall vision. The project included;
Stakeholder analysis including customer insights
A materiality analysis for the business as a whole and for the two business areas
Defining focus areas for the company and for the business areas
Workshops and ideation sessions for the business areas to find business potential in reaching the sustainability targets
Roadmap and action plan for the business areas