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Tink, Youtility to deliver embedded subscription and carbon management tools

Wednesday 9 February 2022 11:17 CET | News

Europe-based Open Banking platform Tink and subscription technology platform Youtility have partnered to provide UK retail banks with embedded subscription and money management tools.

The combination of Tink’s Money Manager product and Youtility’s subscription technology enables banks to reportedly deliver frictionless and hyper-personalised customer journeys. Through real-time categorised transaction data, people can set budgeting goals, and achieve meaningful savings on household contracts such as energy, broadband, TV, landline, and mobile – while reducing their carbon footprint. Through this partnership banks can help users take these crucial savings actions and make more sustainable choices on core household costs without leaving their banking app.

With household energy being the largest single contributor to a person’s carbon footprint, Youtility reportedly makes it simple and easy for banks to help their customers make sustainable choices around the source of energy for their homes, enabling each customer to reduce their carbon footprint by up to 25% annually. Citizens Advice estimates the loyalty penalty from being on out of contract subscriptions costs each UK home GBP 987 annually, the official press release states.


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Keywords: partnership, Tink , Open Banking, green finance, carbon footprint
Categories: Banking & Fintech
Companies:
Countries: Europe, United Kingdom
This article is part of category

Banking & Fintech