Member - ecolytiq GmbH

It’s no secret that climate change is the greatest challenge of our time. With that comes an increase in demand from consumers for more transparency regarding their impact on the environment. In that vein, consumers, investors and other relevant stakeholders expect banks to demonstrate better leadership and guidance in the area of sustainability. The Sustainability-as-a-Service solution from ecolytiq enables banks, fintechs, and financial service providers to show their customers the environmental impact of individual transactions and thus explain to what degree their individual purchasing decisions influence our climate. In November 2020, ecolytiq joined the Visa Fintech Partner Connect program, enabling banks to seamlessly implement their sustainability strategies using payment data As a self-learning solution, ecolytiq’s software calculates a highly precise CO2 value for each bank transaction in real time. This sheds light on the individual impact of every single transaction. The basis of these CO2 calculations is the Open Standard published by the Organisation for Sustainable Consumption (OfnK). ecolytiq’s proprietary algorithms were developed on the basis of both national and worldwide studies as well as research and surveys. The ecolytiq software continuously analyzes new data sources for CO2 calculation, with the goal of calculating an ever more precise individual CO2 value. In addition, ecolytiq has developed a content library providing background information on personal CO2 footprint development. The software in turn provides consumers with valuable advice in bite-sized, easy-to-use everyday insights, helping them to reduce their corresponding CO2 emissions . Also available are suitable CO2 compensation offers from selected and certified organizations. These are managed via a marketplace operated by ecolytiq tailored to the individual transactions, aiming to give consumers the ability to immediately offset their emissions. With the ecolytiq software, banks, fintechs and financial institutions obtain an innovative, scalable and complete solution, enabling the development of sustainable financial products and green business models.