In today’s financial landscape, digital transformation and cybersecurity are no longer just operational concerns, they are core elements of strategic trust-building. Yet, only 17% of Europe’s leading banks and insurers clearly explain their investments in digitalisation, artificial intelligence, and cybersecurity. This is one of the key findings from our second edition of the .trust Finance research, which assessed how 54 financial institutions across 9 countries, including Italy, communicate on five essential sustainability themes. While companies continue to invest heavily in digital technologies, their communication often falls short: content is fragmented, too technical, and disconnected from a broader strategic narrative. As a result, they miss the opportunity to show how innovation supports business resilience and protects stakeholders.
About the research
The research focuses on five key themes shaping the financial sector today. These include Climate change and transition finance, sustainable finance, digital transformation and cybersecurity, as well as social priorities like human rights and DE&I. Each theme reflects growing stakeholder expectations and highlights the need for transparent, business-aligned communication.
WHO’S LEADING THE WAY?
Despite shared challenges, some companies stand out with a more integrated, credible, and well-structured approach to sustainability communication.
Among the banks:
- Intesa Sanpaolo offers a structured range of sustainable solutions—even in its product section
- BNP Paribas shines in DE&I communication, involving top management directly
- Banca Ifis is showing increasing focus on ESG themes
Among insurers:
- Generali adopts a concrete, visual approach to human rights
- Poste Italiane stands out for transparency and supporting data
- Zurich Insurance Group presents a clear, well-structured climate strategy
These examples show that effective communication is not just about being present, but about depth, consistency, and the ability to engage.
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“Demonstrating the impact of your environmental and social commitments—and how they create tangible value for investors and customers—is now a defining mark of credibility“
LIGHTS AND SHADOWS IN EUROPEAN FINANCE COMMUNICATION
On average, insurance companies prove more mature than banks in their communication: they explore sustainability, human rights, and digitalisation in more depth, often using more effective storytelling formats and visuals. Banks, by contrast, often limit themselves to what’s required by transparency obligations, missing the chance to strengthen their strategic positioning.
European financial institutions are clearly embracing themes like sustainable finance, climate change, and DE&I. The vast majority mention them on digital channels, and some are starting to offer more structured and accessible content. Specifically:
- 96% address climate, often with clear net-zero targets
- 83% discuss sustainable finance
- 91% refer to diversity and inclusion—mainly focused on women’s empowerment
But beyond the numbers lies a critical issue: much of the content remains superficial, fragmented or self-referential. Few companies actually explain what they are doing. Only 31%, for instance, disclose their progress against climate targets; just 22% set quantitative DE&I goals; and only 43% provide data on sustainable finance.
The narrative is often technical, the language uninvolving, and impactful stories remain all too rare. And there is a clear lack of courage in positioning themselves as thought leaders: advocacy, the ability to take a stand and contribute to the public debate, is the most neglected area across all themes analysed.
Alongside Digital transformation & cybersecurity, the weakest area overall is Human rights. Both are now central to a company’s competitive and reputational positioning, yet they are also the least communicated. In the case of digitalisation, companies seem reluctant to expose themselves in a constantly evolving space, where AI and cyber risks raise complex questions. But it is precisely in these areas that transparency can make the difference.
.TRUST FINANCE: A COMPASS FOR FINANCIAL COMMUNICATION
.trust Finance is designed to help companies navigate complex but critical communication topics—from digitalisation to sustainability and human rights. Lundquist’s proprietary evaluation model blends methodological rigour with qualitative analysis of digital storytelling, focusing on transparency, effectiveness, and business alignment. In today’s landscape where stakeholders, investors and regulators demand clarity digital silence is a reputational risk. Communicating is not just about informing: today more than ever, it’s about competing.
COMPANIES INCLUDED IN THE RESEARCH
- Switzerland: J. Safra Sarasin, Partners Group, Raiffeisen Bank, SwissLife, Swiss Re, UBS, Zurich, Zürcher Kantonalbank
- Finland: Nordea
- France: Axa, BNP Paribas, Crédit Agricole
- Germany: Allianz, Deutsche Bank, Santander
- Italy: Banca d’Italia, Banca Generali, Banca Ifis, Banca Sistema, Bper Banca, CDP, Crédit Agricole Italia, doValue, Eurizon, Fineco, Generali, Illimity, Intesa Sanpaolo, Mediobanca, Mediolanum, Nexi, Poste Italiane, Reale Mutua, SACE, Simest, UniCredit, Unipol
- Netherlands: ING, Rabobank, Triodos Bank
- Spain: BBVA, Santander
- Sweden: EQT, Handelsbanken, Klarna, SEB, Swedbank
- United Kingdom: Aviva, HSBC, Legal & General, Lloyds Banking Group, NatWest, Revolut
