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.
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 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 ecolytiq stated: “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.”
Tink is Europe’s leading open banking platform that enables banks, fintechs and merchants to develop data-driven financial services. Through one API, Tink allows customers to access aggregated financial data, initiate payments, enrich transactions, verify account ownership and build personal finance management tools. Tink connects to more than 3,400 banks that reach over 250 million bank customers across Europe. Founded in 2012 in Stockholm, Tink became a wholly owned subsidiary of Visa in 2022. Tink’s 500 employees serve more than 300 banks and fintechs in 18 European markets, out of offices in 13 countries. We power the new world of finance. For more information, visit tink.com.
Linda Winder, PR & Communications Director, email@example.com, +44 (0)7809 265941
The climate engagement solution from ecolytiq future-proofs banks and financial service providers by enabling them to engage in sustainable banking and finance. The ecolytiq product suite enriches traditional banking with embedded transaction-based footprinting, personalized climate insights, and access to environmental projects that inspire new, sustainable behaviors. ecolytiq is member of the Visa Fintech Partner Connect Programme, enabling banks to seamlessly implement comprehensive sustainability strategies.
Max Honzik, PR & Content Manager, firstname.lastname@example.org, +49 30 2201232-80