Sustainability-as-a-Service firm ecolytiq has introduced a partnership with Visa-owned, European open banking platform Tink that may convey personalised impression footprint calculations and different pro-sustainability options to banks, monetary establishments, and fintechs. The expertise, which helps encourage clients to shift their habits towards extra sustainable decisions by way of spending, can be obtainable initially within the DACH area (Germany, Austria, and Switzerland) and ultimately expanded to different, bigger markets in Europe.
“ecolytiq’s answer was created with the flexibility to rapidly scale, as a result of we all know that world warming wants exponential local weather motion enablers,” ecolytiq CEO and co-founder Ulrich Pietsch stated. “Tink is a strategic associate with a confirmed observe report for enabling banks and fintechs to ship the data-driven digital options their clients need and wish. ecolytiq is the next-generation of those merchandise.”
Ecolytiq’s merchandise embrace ecoAware, which makes use of country-specific calculations to find out a buyer’s private environmental impression primarily based on their financial institution transactions; ecoEngage, which helps financial institution clients decide methods to scale back their environmental impression through suggestions loops, footprint analytics, and peer group comparisons; and ecoAction, which permits financial institution clients to offset their environmental impression through donations to ecolytiq’s licensed offsetting companions. ecoAction permits people to compensate 100% or extra of their carbon footprint, and ecolytiq plans to quickly add ESG funding funds as a donation vacation spot in addition to the flexibility to pick out a inexperienced vitality supplier with its ecoSwitch answer.
An alum of Finovate’s builders convention, ecolytiq demonstrated its expertise at FinDEVr 2021 earlier this yr. Based in 2020 and headquartered in Berlin, Germany, ecolytiq has already cast partnerships with Visa, FinTecSystems, challenger financial institution Tomorrow, and Worldline. Over the summer time, the corporate received recognition within the Affect Shakers Awards within the “Training” class.
Two-time Better of Present winner Tink, primarily based in Stockholm, Sweden, most not too long ago demonstrated its expertise on the Finovate stage at our European convention in 2019. The corporate’s open banking platform handles multiple billion API calls a month; helps greater than 3,400 financial institution and monetary establishment integration companions; and reaches greater than 250 million financial institution clients throughout Europe. Tink’s merchandise assist establishments verify account possession and confirm revenue; present up-to-date, standardized and categorized transaction information; supply a completely embedded funds expertise to spice up engagement and conversion, and allow corporations to construct good, intuitive private finance administration options. Along with its partnership with ecolytiq, Tink has additionally not too long ago embarked upon collaborations with French funds service supplier Lemonway and German PFM app Placons.
“The mix of Tink’s transactions product and ecolytiq’s sustainability experience creates a helpful proposition for monetary establishments and fintechs throughout the DACH area to supply providers that higher measure and assist scale back carbon footprint,” Tink Regional Director for the DACH area Cyrosch Kalateh stated. “We look ahead to extending this partnership sooner or later, serving to ecolytiq to increase at velocity throughout Europe on our open banking platform.”
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