Read the full article by Tink here: https://tink.com/blog/use-cases/ecolytiq-partnership-sustainable-banking/
German company ecolytiq is a Sustainability-as-a-Service® solution enabling banks, fintechs, and other financial service providers to show their customers the impact their purchases have on the environment.
Their mission is to empower consumers to reduce their impact in the long term. They do that by helping people calculate their environmental footprint (such as CO2 emissions) based on their consumption habits, and providing valuable information that helps them understand their individual impact on the environment.
This new strategic partnership with Tink lets banks and financial institutions add open banking to their arsenal in the fight against climate change. By integrating Tink, ecolytiq can complement their Sustainability-as-a-ServiceⓇ solution by letting their customers access users’ real-time transaction data directly from their bank accounts.
Using this data, ecolytiq’s customers can offer their own users a more complete overview of their expenses, leading to a deeper understanding of how their consumption habits impact the environment, and empowering them to make climate-positive changes.
‘ecolytiq’s solution was created with the ability to quickly scale, because we know that global warming needs exponential climate action enablers. Tink is a strategic partner with a proven track record for delivering banks and their customers with the digital solutions they want and need. ecolytiq is the next generation of these products’, said ecolytiq CEO and co-founder Ulrich Pietsch.
Cyrosch Kalateh, Regional Director for the DACH region at Tink added: ‘the combination of Tink’s Transactions product and ecolytiq’s sustainability expertise creates a valuable proposition for financial institutions and fintechs across the DACH region, so they can offer services that better measure and help reduce carbon footprint. We look forward to extending this partnership in the future, helping ecolytiq to expand at speed across Europe on our open banking platform.’
This partnership validates the important role open banking can play towards promoting sustainability, with a global leader in green banking solutions tapping into Tink’s technology to improve their offering. Their integration with Tink will begin in the DACH region with plans to expand to more European markets.
Interested in learning what open banking technology could do for your business? Get in touch.