Moneyhub launches Carbon Counter API 'Recipe'

Moneyhub, a data and payments platform, has collaborated with carbon measurement companies to introduce its new API Recipe named Carbon Counter. This enables businesses to provide customers with insights into the environmental effects of their financial activities. The Recipe integrates Moneyhub’s Open Banking and Open Finance API connections, ensuring seamless integration with existing systems and solutions at a swift, easy, and cost-effective pace.

Using Moneyhub’s Carbon Counter API Recipe, businesses are able to provide customers with the carbon footprint for their transactions, giving them an instant overview of the environmental impact of their finances, along with personalised insight and guidance on how they can improve their carbon footprint and make more informed choices. By collaborating with companies such as Connect Earth and Cogo, Moneyhub is able to ensure high quality and accuracy in environmental impact data.

Addressing growing environmental consciousness

UK consumers are becoming increasingly more environmentally conscious. The ONS found that more than eight in ten (86.5%) adults in Great Britain have already made at least some changes to their lifestyle to help tackle environmental issues. This new tool will enable businesses to meet this customer need, better supporting them as they look to reduce their carbon emissions and footprint.

Officials from Moneyhub said they’re all becoming increasingly aware of their obligation to protect and minimise their impact on the environment, and it’s clear that this is a growing priority amongst consumers. Businesses are in a unique position where they could change behaviours across the UK and, in doing so, grow loyalty amongst their customer base.

However, accessing this data and applying the intelligence can be challenging, many of whom will be contending with legacy systems. And once the data is accessed it also needs to be analysed by a credible partner to enable these actionable insights.

Using Open Banking and Carbon Analysis, businesses can easily access the connections and provide insights to customers to help influence their buying decisions and live more sustainably. Moneyhub hopes that their API Recipe better enables businesses to meet this customer demand, and help them to better understand the impact of their buying decisions and make improvements to the benefit of all.