ecolytiq, Tomorrow, Visa team up for new proposition to their banking app

This new initiative will show customers carbon emission calculations alongside their bank transactions. Based on each purchase made with a Visa card, ecolytiq and Tomorrow are able to offer banking customers more transparency and empowerment around their purchases.

The first bank in Germany to integrate ecolytiq’s latest SaaS solution, Tomorrow is setting a standard for the future of sustainable banking, leading the way for how banks should engage with sustainability. ecolytiq’s calculations are based on the industry’s ‘Open Standard for Payment Transactions’ published by the Organisation for Sustainable Consumption which operates the European Open Sustainability Registry. In order to arrive at these country-specific calculations, ecolytiq uses its 25 transaction categories and over 1200 subcategories along with its extensive catalogue of collaborative research and publicly available emissions data.

Through integrated feedback loops, such as diet preferences, ecolytiq refines its calculations, offering consumers a tailored banking experience. These values are then contextualised through so-called ‘Comparables’ and ‘Insights’ with the aim of shifting behaviour towards more sustainable spending.