Case study: How Aldermore Group works with its clients and customers to encourage sustainable practices

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Supporting people to succeed in life and business requires a consistent focus on creating greater value for Aldermore Group’s key stakeholder groups. To fulfill its purpose, Aldermore Group must ensure it supports people in ways that address their needs while also achieving its growth goals.

Aldermore Group understands that its business impacts people differently based on who they are. Aldermore Group identifies these diverse groups as stakeholders and must address their needs appropriately to fulfill its purpose and growth ambitions.

Customers: Aldermore Group places them at the centre of its decision-making, helping them find the right solutions to get more out of life and business, with the confidence of being supported by a company that champions them where others would not.

People: Aldermore Group sees them as the cornerstone of its success, offering clear value exchanges, great benefits, supportive working environments, and development opportunities, while clearly communicating what is expected in return.

Distribution Partners (Brokers): Aldermore Group collaborates with them to understand and meet the needs of both them and their clients, making it easy for them to do business with Aldermore Group.

Distribution Partners (Dealers): Aldermore Group provides products and services to support their businesses and ensure that motor dealer finance remains vibrant and sustainable in a changing market.

Society: Aldermore Group leverages its key strengths and capabilities to drive meaningful change and make a sustainable impact on its communities, both now and in the future.

Investors: Aldermore Group generates sustainable returns by focusing on long-term growth in four of the most attractive markets in UK banking.

Regulators: Aldermore Group maintains regular, open, and transparent communication to ensure alignment with evolving regulatory priorities.

Aldermore Group recognizes that the world is rapidly changing, and the needs of its stakeholders are evolving. Aldermore Group’s refreshed strategy, introduced in 2022, aims to modernize and focus its business, ensuring Aldermore Group continues to meet the needs of all its stakeholders.

Aldermore Group’s strategy outlines its focus across its four business divisions: Property Finance, Motor Finance, Structured and Specialist Finance, and Savings.

Aldermore Group maintains regular dialogue with all stakeholders to ensure its strategies, plans, and business objectives continue to positively impact each group and meet the needs of its identified stakeholders.

How did Aldermore Group work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2024 PRB Self-Assessment Report Aldermore Group reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Through its tailored and customer-centric solutions, Aldermore Group can support often overlooked and under-supported areas, such as SMEs and the self-employed, helping these individuals thrive, create new opportunities, and stimulate innovation.

Customer centricity and constant feedback from its customers enable Aldermore Group to design and develop products that meet their needs, particularly where their needs are underserved by other financial institutions. Aldermore Group gathers this feedback through customer research, complaints data, net promoter scores, and Trustpilot feedback, among others.

Aldermore is part of various ecosystems across different industries and recognizes that by collaborating with other organizations, it can be more impactful and deliver in the areas that matter most. Aldermore Group is actively involved with many industry bodies, including:

• UK Finance
• Finance & Leasing Association (FLA)
• Intermediary Mortgage Lenders Association (IMLA)
• Banking Standards Board

Aldermore Group is also a signatory or member of:

• The Women in Finance Charter
• Race to Work Charter
• The Mindful Business Charter
• United Nations Environment Programme Finance Initiative Principles for Responsible Banking
• The Purpose Coalition
• Business in the Community

These communities allow Aldermore Group to gain insights and share best practices with its communities and industry peers, consistently enabling Aldermore Group to deliver better outcomes for its stakeholders.

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), IEMA Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

References:

This case study is based on published information by Aldermore Group, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.aldermore.co.uk/media/pidhhdni/aldermore-group-principles-for-responsible-banking-self-assessment-report.pdf

Note to Aldermore Group: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.