• Tasha Chouhan, UK & IE Banking Lead at Tink


• 22.04.2022 02:45 pm
#banking

“Tink's research shows that consumers today expect strong environmental credentials from their financial services providers. Younger generations in particular are embracing open banking powered services that give them greater control over their environmental footprint. Many are even willing to switch providers to seek out greener options.

"Financial services providers without sustainability offerings run the risk of losing business, by failing to meet the expectations of a new generation of climate-conscious consumers.

“Open banking has a vital role to play in helping financial institutions build a strong sustainability offering for customers. For example, by aggregating, categorising and analysing transactions with open banking, customer data can be linked to carbon footprint analysis and consumers can know the environmental impact of their spending.

“By partnering with fintechs to experiment with open banking powered use cases, financial institutions will be better placed to attract and retain this emerging new wave of green consumers.”