Bank of the West is tapping impact investing tech from OpenInvest to provide clients with personalised environmentally-friendly and socially-conscious investment portfolios.
Financial advisors at BancWest Investment Services will be able to draw on thousands of dynamically updated ESG data points to deliver customised portfolios that reflect customer priorities.
The OpenInvest algorithm tracks a number of causes, such as divestment from fossil fuel producers and major greenhouse gas emitters; investment in corporate women leaders, LGBTQIA+-friendly companies, and companies supporting refugees. The platform also provides feedback to portfolio holders on the direct impact their investment has made on the causes they support.
"Bank of the West believes that your money has values, as well as value," says Darin Dubendorf, head of client solutions, Bank of the West, and president, BancWest Investment Services. "As one of the only large U.S. banks with policies aimed at helping protect our planet, it's crucial that we help responsible investors meet their individual goals related to sustainability and social impact. This solution represents an opportunity to not only drive return on investment, but also showcase the real, tangible results generated by using your money to make bold choices and support critical actions to make the world a better place."