Money Management App Uses AI to Link Spending Habits and Environmental Impact

  • Artificial Intelligence , Platform Technology , Management , Money Transfers
  • 21.10.2021 04:40 pm

Carbon footprint money management app CREED has launched after working with to develop the AI solution engine behind the app’s intelligence. CREED is a new secure open banking app that tracks spending and carbon footprint, helping users to understand the environmental impact from their spending habits and to get closer to being carbon neutral., a global AI consultancy, worked alongside the company to develop an AI concept and build a working model for how the app could be scaled. CREED has now launched in Android and Apple app stores and is inviting beta customers.

The CREED app uses a solution based upon Machine Learning classification tools, which automate the collection of external carbon footprint data and match it against the user’s financial transactions to show the carbon impact of their spending habits. The app then uses Predictive AI to show the bigger impact of their habits and go on to make recommendations for carbon offsetting. created the initial web application to prove the feasibility of the solution and enable CREED to develop it further in-house. The work was carried out by Brainpool’s CTO Dr Peter Bebbington PhD and the Brainpool engineers.

“Machine Learning is the foundation of the app – over time, the algorithm will become more precise in matching transactions to categories, such as fuel, groceries and clothes, enabling people to make smarter spending decisions,” said Dr Peter Bebbington PhD. We worked with CREED to understand what it wanted to achieve, we could then show how AI and Machine Learning could solve the challenges and built a Proof of Concept of the product for them to take to market.”

The idea for CREED was dreamed up in 2019 by Roshan George, CEO and founder. Roshan’s children were learning about the environment at school and asking questions, he wanted to find a better way of explaining what was good or bad for the environment and put a value against his own family’s carbon footprint but couldn’t find anything that quantified it, hence CREED was born.

“Open Banking means apps like CREED are now possible, but we needed help to take the initial idea and make it into something that actually linked spending to carbon footprint,” said Roshan George, founder and CEO of CREED. “That’s where came in. We are a small, bootstrapped startup, so became our AI team, advising on how to approach the challenge, building the proof of concept and helping us take it to the next stage using real-world data.”

Roshan explained “We were really impressed by the team, they understood what we wanted to achieve and explained how to build exactly what we wanted. built a working model that was easy for us to replicate and scale.’s consultancy helped us prove that our idea was feasible and set us up to build the app and build our own internal team of developers.”

CREED is a regulated FCA app, working on open banking, which lets users link their spending data with the app. CREED analyses the data and applies algorithms to give a view of their carbon impact. Spending and investment tools to help offset their carbon footprint will become available later in 2021.

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