Tink will embed ecolytiq’s solution into its platform to scale sustainability-based services
We are joining forces with climate engagement solution, ecolytiq, to embed their sustainability-based services into the Tink platform. Together, we will be able to offer sustainability-based solutions to scale across Europe.
Tink and ecolytiq are collaborating to incorporate financial and sustainability coaching into a seamless experience
ecolytiq is a climate engagement solution aimed for banks, fintech and other financial services
By combining the power of money management tools with carbon footprint tracking, Tink will make it possible for new and existing customers to plug in sustainability-based services
We are collaborating to incorporate financial and sustainability-focused coaching into a seamless experience. By combining the power of money management tools with carbon footprint tracking, we will make it possible for new and existing customers to plug in sustainability-focused services – with the ability to scale across markets.
ecolytiq is a climate engagement solution helping banks, fintechs, and other financial service providers to show their customers the estimated impact their purchases have on the environment.
Since 2021, we have been working together with ecolytiq to help them add to their offering by letting customers tap into open banking to better understand their impact upon climate change.
Using open banking to track carbon footprint
Carbon tracking services will help financial institutions to empower their customers by providing awareness of the estimated impact their purchases have on the environment using open banking functionality to access enriched transaction data in real time.
Combining Tink's open banking and data enrichment capabilities with ecolytiq's sustainability features will help financial institutions assist their customers with understanding how their consumption habits impact their environmental footprints across all their bank accounts and transaction types. This enables customers to build a truly holistic coaching experience across spending and its connection to sustainability.
Fusing for scalability
We expect a key benefit of Tink and ecolytiq’s collaboration to be the seamless integration for financial institutions to implement sustainability-based features across their digital channels. ecolytiq's suite of climate engagement products will be made available directly on the Tink platform through a single API, removing the need for institutions to integrate multiple providers’ solutions.
For customers already integrated with Tink, this collaboration means financial institutions will add sustainability-focused coaching to their offering in a seamless way, and for those not already offering open banking driven services, will have the ability to implement both financial coaching and sustainability-related money management tools at the same time.
As part of Tink’s consumer engagement and financial coaching offering, the ecolytiq sustainability-based services will be scaled across all 18 markets where Tink is currently present.
Ulrich Pietsch, Co-Founder and Managing Director of ecolytiqstated: “Pairing open banking with sustainable banking is good news for financial institutions looking to make a difference. With climate action being so urgent, our partnership puts banks in the position to immediately meet the rising demand for climate-forward banking products with minimal technical integration. It’s a win-win for banks, who are ready to embrace the future.”
Christophe Joyau, SVP of Banking and Lending at Tink added: “The fusing of Tink’s open banking and data enrichment technology with ecolytiq’s sustainability-focused solutions presents an exciting opportunity to increase people’s understanding of their impact on the environment, and change consumer behaviour. Our recent research found that almost two-thirds of 18-34 year olds want more information about their carbon footprint, and nearly half of them would switch to a financial provider who allowed them to see the environmental impact of their purchases.
“As part of our growing offering in data-driven financial services, we are enabling financial institutions to better engage with their customers through embedded third-party providers, while also retaining customer loyalty.”
This partnership validates the important role open banking can play towards promoting sustainability.
Interest in learning more about what Tink’s consumer engagement and financial coaching tools could do for your business? Get in touch.
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