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  • Innovation
  • Players’ Strategy
  • France

Challenger Banks N26 and Revolut Leading the Way in Ethical Banking


  • A new classification listing the most ethical companies has just been released.
  • This classification by Moralscore saw the day early in 2019, enabling its users to rank large-scale companies based on specific criteria, including environmental and social consciousness or tax-related concepts.
  • Goal: help consumers choose a bank more easily while also taking ethical criteria into account.
  • This assessment is regarding brands rather than their products. This start-up ranks shipping platforms, ready-to-wear brands, car makers and even banks.
  • When it comes to financial institutions, Crédit Coopératif tops the list with 63 points. Then come La Banque Postale and N26 (61 and 56 points), and Revolut ranks 5th with 46 points. Las on this list: BNP Paribas, Société Générale and LCL.
  • This assessment focuses on four main criteria:
    • The company’s relations with public authorities (tax-related issues), environmental consciousness (carbon emission, water consumption, etc.) and the company as a whole.
    • The company’s relations with their employees (work conditions, salaries, etc.)
    • The company’s relations with their suppliers and partners (equity)
    • The company’s relations with their customers and users (product quality, data protection policy, etc.)
  • Moralscore specifies that this list isn’t exhaustive. Interested companies may choose to subscribe. For each company, the assigned grade is detailed and a grade applies to each criterion.


  • Transparency. The idea would be to increase transparency in considering criteria that are most often assessed subjectively and based on how companies communicate. Moralscore intends to help customers make objective choices with this classification. Customers may also choose most relevant criteria in their opinion and check how banks address these given notions.
  • Increasing number of players. The number of websites and mobile apps ranking companies has been increasing. They share a similar goal: change the way industry players work. According to Moralscore, if a brand is more righteous than another, the least righteous one is bound to make efforts to catch up with their rival. Considering their natively practices and customer-oriented approach, challenger banks, such as N26, stand out.


  • In France, most classifications looking into banking players’ carbon footprint rank La Nef first, then Crédit Coopératif and La Banque Postale. Globally, La Nef and Crédit Coopératif are the institutions paying the most attention to ethical issues, in line with their historical commitment. La Nef also intends to launch an ethical current account as well as a solidarity-based life-insurance project.