Bank of Åland and Doconomy join international research initiative on AI, sustainability and the future of consumption

“Consumers are increasingly seeking better information about the broader implications of their purchasing decisions. By bringing together financial institutions, researchers and industry experts, this initiative aims to improve our understanding of how sustainability data can be made more accessible, useful and relevant to consumers’ decision-making, supported by emerging technologies. We are delighted that Bank of Åland is contributing its internationally recognised expertise and banking perspective to this research initiative,” says Mathias Wikström, Chief Executive Officer of Doconomy.

As part of the collaboration, Bank of Åland will contribute expertise, practical experience and market insights to the international research initiative, which is exploring how transaction-based data and AI can support the future of consumer financial services. Bank of Åland recently received the highest score for perceived sustainability among retail banking customers in Finland in the EPSI Rating 2026 banking survey.

“Trust is the foundation of everything we do at Bank of Åland. As digital services and AI-powered tools become increasingly important in people’s everyday lives, they must be developed in ways that reinforce that trust. For us, this means understanding our customers’ needs and using new technologies to help them make informed and sustainable decisions, both for their personal finances and for society as a whole,” says Peter Wiklöf, Managing Director and Chief Executive of Bank of Åland.

Together with Yale University and other partners, Bank of Åland is supporting a global survey examining the role of AI in purchasing decisions, automated transactions and sustainability preferences. More than 12,000 people across Europe, the United Kingdom, the United States and Asia are taking part in the survey. It aims to provide a better understanding of demand for values-led, conscious consumption, whether automated or not.

“Technology is opening the door to an entirely new era of consumption, for better and for worse, and this is exactly the kind of research needed to help drive the transition towards more sustainable consumer choices,” says Michel Gelobter, Executive Director of the Yale Center for Environmental Justice.

When applied appropriately, technology can help bridge the gap between people’s intentions and actions by providing relevant impact data at the moment decisions are made. Bank of Åland has extensive experience in this field through its work on the Åland Index in collaboration with Doconomy. In a rapidly evolving technological environment, it is becoming increasingly important that decisions are supported by timely, reliable and comparable information across digital channels and geographical markets.

The research focuses on three areas:

• Impact data and transparency

  Exploring how transaction-based data can be used to estimate, measure and communicate carbon footprints and other social impacts associated with consumer behaviour.

• The future of digital commerce

  Examining how financial services can support consumers in an increasingly digital environment, including the role of AI-powered tools.

• Consumer understanding and engagement

  Identifying ways to help consumers better understand how their purchasing decisions affect the climate and society, while enabling them to make more informed choices.

Bank of Åland recently participated in an international roundtable discussion in New York alongside leading banks, payment companies, research institutions and international organisations. The discussion took place in connection with the opening of the United Nations General Assembly (UNGA) and Climate Week NYC. Initial insights from the research initiative were presented, and the participants discussed the next steps in the project.

The findings of the research initiative will also be presented in a report ahead of COP31. The findings will support Bank of Åland’s continued work to develop financial services built on trust, sustainability and the responsible use of new technologies.

Contacts

Peter Wiklöf

Managing Director and Chief Executive

Bank of Åland

Tel. +358 40 512 7505

Email: peter.wiklof@alandsbanken.fi

Mathias Wikström

Chief Executive Officer

Doconomy

Tel. +46 708 153 203

Email: mathias.wikstrom@doconomy.com