Tink partners with Cogo to give NatWest customers carbon footprint insights
The strategic partnership between the two fintechs was formed as a result of the launch of the NatWest carbon tracking feature.
The solution creates personalised carbon footprints for customers based on their transaction data by using Cogo’s sustainability data and behavioural science, and Tink’s money management and data enrichment technology.
On the NatWest mobile banking app, customers will be able to see their CO2 emissions associated with their daily spending, while the app will also ‘nudge’ them to reduce their climate impact.
Cogo’s API enables banks to integrate carbon and sustainability data into their customer experiences, including providing bank customers with their carbon footprint within a bank’s own mobile app.
NatWest is the first UK retail bank to build a daily carbon tracker that uses this technology.
Tasha Chouhan, UK and IE banking lead at Tink, said:“Most of us recognise that we need to do more to tackle the climate emergency. This has led to renewed pressure on consumers to reduce their daily impact on carbon emissions.
“But with so many sources, working out your personal carbon footprint is nearly impossible. That’s why people need the tools and the data to inform their decisions and bring clarity to their specific situation.”
Chouhan added that the solution will help banks to win new climate conscious customers.
“This is a critical decade for climate action, where we need to work collaboratively to find tools and solutions that can help us all understand and reduce our impact on the planet,” said Emma Kisby, CEO UK of Cogo.
“We have to focus on delivering scale and impact at pace, which is why we are very proud of what we have delivered through this partnership with Natwest and Tink, and look forward to delivering more through collaboration in the future.”
Cogo was originally founded in 2008 in New Zealand as a charity and is currently working with seven global banks on solutions for their customers.