Greenly and Tink Turn Banking Apps into Eco-Friendly Advisers

  • Banking
  • 08.12.2020 09:58 pm

Greenly, the #1 app for tracking your carbon footprint automatically, enters a partnership with the European open banking platform Tink to offer its mobile application throughout Europe, and enable banks to enrich their own services with a measure of impact, setting a new standard for PFM

Greenly, the fintech that has first brought automated carbon tracking to the public partners with Swedish-founded Tink, to make the Greenly app available throughout Europe.

  • Greenly’s users will be able to synchronize their bank accounts for all European banks, and thus benefit from an estimation of the carbon footprint for every expense, in order to make more sustainable choices
  • Greenly, which had already integrated its technology into several leading European banks, is thus expanding the distribution of its Carbon Index API to all European players.
  • Tracking personal carbon footprint through bank accounts becomes a new European standard. Until now, banking applications only informed users about their financial health. Now, more and more banks will be able to support their customers in their own energy transition thanks to the services offered by Greenly.
  • With this partnership, Greenly becomes the first European app and API player in the emerging field of automated carbon impact analysis.

Through its French users alone, Greenly has already gathered the world's largest community of people regularly tracking their carbon footprint, and is now taking its services across Europe with Tink.

Banks across Europe will be able to integrate the Greenly Carbon Index and API into their mobile applications, to analyze every bank transaction and estimate the associated carbon footprint, carbon avoidance in case of a green merchant and suggest more sustainable alternatives automatically.

The ambition of Greenly is to set a new European standard for monitoring one's personal footprint and to encourage as many people as possible to begin acting in full awareness of their impact. In France, 2.5 million users already have the opportunity to estimate their carbon footprint either directly with the Greenly application or through one of its partner banks. The time is ripe to expand this possibility across Europe and scale this solution jointly.

For the end user, the main objective is to support lifestyle changes, by setting a carbon budget  and saving money while helping the planet. According to Greenly estimations, changes in individual behavior could reduce users’ personal footprint by 10 to 20%, simply by adopting greener habits, for example by reducing meat consumption, switching to green energies or moving towards low carbon transports. At a country level, the involvement of individuals is essential to achieve the objective set by the United Nations for reducing emissions by 7.6% per year by 2030, to limit global warming to less than 2 °, in line with the Paris Agreement.

Alexis Normand, CEO and co-founder of Greenly, said: “We are at the start of a revolution in payments which will soon all include some measure of impact. Ultimately, if we can help each European save a ton or tow of CO2 emissions per year, this already amounts to planting more than 500 million trees. And the effect is more immediate. Fighting climate change should not be a punishment. On the contrary, we must start rewarding good behavior and what better way to do this than with budgeting apps”.

Jérôme Albus, Director, France and Benelux at Tink, added: “Greenly is leading the way in France thanks to its carbon expertise, and we are delighted to help them accelerate their services across Europe while consolidating their position in France. Helping more people and businesses understand their carbon footprint and enabling them to take action is needed now more than ever."  

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