Yayzy to help use Open Banking for off-setting carbon emissions

Users connect their bank accounts, debit cards and credit cards to its app via Open Banking and Yayzy says it can estimate the carbon impact for each item of users spending in real-time.

In the short term, Yazy is selling carbon off-setting services directly as its prime monetisation strategy with a flat fee of GBP 1.5 per carbon tonne offset. In the future, it is hoping that through APIs it can partner with other banks and fintechs to offer the service to other firms.

The fintech is looking at further integrations with third parties to deepen the reach of its data gathering. Founded in UK in 2019, Yayzy has to date secured almost 1 million GBP in financial backing from Antler Venture Capital, Seedrs (a crowdfunding round), and the CoreAngels Impact Fund.