In recent years, the global banking industry has seen a surge in its efforts to demonstrate a commitment to diversity. Advertisements, corporate social responsibility initiatives, and workplace policies have been crafted to project an image of inclusivity. At first glance, the panorama appears to be changing, with a more diverse group of faces gracing company brochures and mission statements brimming with commitments to fairness and equality. Yet, a closer and more discerning look often reveals that these steps, while laudable in intent, might be more surface than substance. The true challenge lies not merely in changing the face of banking but in revolutionizing its heart and soul.
Redlining and Racism at Canadian and American Banks
Despite glossy website photos of minorities, pledges to be a different kind of bank, the banking industry falls short. With enormous diversity and inclusion training and even racial audits, banks continue to attempt to thread the needle of inclusion and do the right thing. It is possible to do the right things while achieving business outcomes, for in truth, authentic leaders understand this reality.