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.

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