Social Responsibility Actions in Financial Institutions: A Systematic Review

Abstract

There are financial institutions that do not focus on social responsibility in their management, because they focus on non-priority aspects; for this reason, it is necessary to promote it within the organizations, identifying relevant aspects. This increases customer retention, as well as the loyalty of its collaborators, which promotes persistence in companies, has a solid reputation, creates confidence among customers and investors, alleviates risks related to environmental, social and governance factors and actively contributes to sustainable development and the development of society can promote ethical practice, transparency and the existence of a community. Financials, aim to give performance without exposing the utility of the whole in its interest, preserving self-sufficient utilities, while abiding by different rules and regularizations. Therefore, the objective of the systematic review is raised in describing what has been published in the scientific literature about social responsibility actions in financial institutions between the years 2015 to 2023. The methodology used was Prisma, a systematic guide used in studies to perform reviews and meta-analyses in a strict and transparent manner, it helped to improve the quality and consistency of systematic reviews, which, in turn, contributes to decisions based on reliable evidence, the results obtained were that 35% were obtained from the DIALNET database, 24% were published between 2018 and 2021, 35% of scientific articles were found in Colombia, these have English and Spanish as their language, while the sources of information used in our systematic review correspond to the following databases: Scopus, Scielo, Dialnet, Redalyc, EBSCO and Doaj. Finally, it is determined that social responsibility actions in financial entities are of utmost relevance for financial organizations, since they help to create a positive reputation, have a significant social impact, manage non-financial risks, comply with rules, and attract and have talented employees, these practices are useful not only for society as a whole, but also for the success and sustainability of a financial organization.