FinTech Bud to help launch carbon footprint platform in UK

Bud has signed a deal with Nordic eco-payments company Enfuce to bring its “My Carbon Action” product to the UK.

The Open Banking FinTech will combine its existing services with Enfuce’s carbon tracking engine, to offer UK customers a clear indication of how their spending impacts their carbon footprint.

Enfuce’s product brings together lifestyle information and a carbon tracking methodology developed by climate researcher Dr. Michael Lettenmeier to provide users with a personalised carbon footprint.

The partnership with Bud will allow users to add an additional layer of transaction data to produce more personalised scores based on categorised spending.

“Open Banking is quickly maturing into an easy route for banks and financial institutions to deliver innovative solutions through their mobile apps,” said Ed Maslaveckas, chief executive of Bud. “Our partnership with Enfuce is a clear example of something that, only a couple of years ago, would have been a massive technical undertaking and that can now be integrated in a matter of weeks.”

Maslaveckas added: “We’ve seen an explosion in the number of financial services organisations out there targeted at specific sectors of the population - where people are building entire businesses out of a service that feels personal to its users. Banks have a huge opportunity to offer this kind of personalisation at scale, it’s something we’re looking forward to delivering as we expand our ecosystem of open banking enabled solutions.”

Monika Liikamaa, chief executive of Enfuce, said that “My Carbon Action” has had a positive impact on 30 per cent of its users during a proof of concept for Rabobank.

“… I’m confident it’ll have a significant role in reducing the CO2 emissions in the UK and the EU”, added Liikamaa.

    Share Story:

Recent Stories


The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.

Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.

This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.