Tink partners with Ecolytiq for sustainable banking solution

Monday 29 November 2021 11:39 CET | News

Sweden-based open banking platform Tink has announced a collaboration with the sustainability-as-a-service provider Ecolytiq

As an open banking platform, Tink enables customer companies to access aggregated financial data, initiate payments, enrich transactions, verify account holders and set up tools for personal financial management via an API. Banks, financial institutions and fintechs should initially provide customers in the DACH region with individual calculations of the ecological footprint and behavioural incentives to make more sustainable consumer decisions. The Ecolytiq solution is integrated via an API that extends existing digital banking applications with new functions. The Ecolytiq software calculates personal environmental influences, such as CO2 values, on the basis of payment transactions.

Easy access to Gold Standard-certified compensation offers and ESG investments rounds off the customer experience. In 2020, Ecolytiq joined the Visa Fintech Partner Connect program and enables banks to implement their sustainability strategies using payment data. According to a Tink representative, the combination of Tink's transaction products and Ecolytiq's sustainability knowledge creates added value for financial institutions and fintechs in the DACH region to offer services that help to better measure carbon footprints. The partnership will initially begin in the DACH region and will be expanded to other European markets in the future.

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Keywords: partnership, Open Banking, financial services, API
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Europe
This article is part of category

Banking & Fintech