Varan Pathmanathan and Christopher Trunk Black, the founders of make!mpact could see a shift: that more and more younger people were interested in sustainable investments but lacked knowledge about how to invest and in what. The solution? They founded make!mpact - a company that helps investors make sustainable decisions. Their goal is to encourage, guide and mobilise more people to invest with purpose, in support of the UN’s Sustainable Development Goals (SDGs), such as achieving a more prosperous, equitable, and sustainable world, with a better future for all.
Opening investment doors
At a time when the need for action is more important than ever, people are becoming more conscious about the way they consume products and services. Impact investing is one way to speed up the process of making a difference to the planet. The more people realise the societal and financial benefits of impact investing, the more companies will start to engage themselves in being socially responsible.
Historically, investing has been limited to a privileged and educated group, but make!mpact is working to change that - targeting a younger audience that’s hard to reach and often underserved by the investment community. “Half of our users said they have never invested before and 44% are women,” says Varan Pathmanathan, CEO. “It's great to see that we can encourage a new group of people to start investing in companies that share their values, helping to make a more sustainable future with businesses that are here to stay.”
Scale-up in Europe
make!mpact has big plans to widen its scope beyond Denmark, and increase its functionality so that people can learn about, follow, buy and track their investments within the app. To gather users’ investments and present them with a real time view of how sustainable their investments are, make!mpact had to find the most friction-free way of aggregating data from thousands of banks across Europe. They decided to partner with Tink.
“Tink has a global mindset that matches make!mpact’s ambitions. Besides the coverage and connectivity to more than 3400 banks across Europe, Tink has a well-developed API that makes integration and collaboration seamless. We immediately got access to the sandbox environment in the Tink Console, and was able to test the product to see how it would generate value for our company. I'm happy that we found a good partner to get more people to invest with purpose and make an impact,” says Varan.
Nudge users to take action
By embedding Tink’s aggregation technology into make!mpact, people can link to their investment accounts in seconds, and give make!mpact permission to view their stocks and shares in real-time. Without aggregation technology, users would have to manually input the companies or stocks they are invested in - causing drop offs.
make!mpact’s algorithm then gets to work, helping to see how sustainable the investments are based on the UN SDGs. Users can easily track which companies are behaving ethically and which UN goal they are supporting. Based on the account information that’s gathered, make!mpact will nudge users to take action.
Tink’s Country Manager for Denmark, Peter Anderson adds: “We’re happy to support a company that really wants to make a difference and is using our aggregation service in such a meaningful and innovative way. This is just the first step for make!mpact and I’m curious to follow their journey and see what other open banking innovations they will come up with, to get people to be more conscious about what they invest in.”
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