We’re seeing a major shift in financial services toward more environmentally conscious and sustainable practices. Driven by customer preferences, particularly younger people, environmental, social, and governance (ESG) matters are of growing importance to banks.
Together, Gen Z and Millennials account for 49% of the global population, so their attitudes and beliefs – such as changing buying habits for environmentally friendly alternatives – will shape more and more of the world around us. This is also reflected in their investment decisions, with over half of Gen Z and Millennial investors making sustainable investments to help build a positive future.
Building ESG into digital banking solutions
In a challenging and crowded retail banking market, sustainably-focused solutions – such as socially responsible investing and green banking – offer a way to stand out from the crowd.
Yayzy, a fintech specializing in carbon tracking for payment transactions, enables banks to add real-time carbon footprint analysis to their products – something 62% of consumers want.
Yayzy’s Climate Impact APIs use merchant-level payment data to help customers understand the environmental impact of their spending. By integrating SuperCore®, our next-generation core banking platform, with Yayzy’s APIs, banks can:
- Automatically calculate the carbon footprint of purchases in real-time
- Give customers guidance and simple steps to reduce their impact
- Provide verified offsets and the latest in carbon capture projects.
This shows how ecosystem banking, enabled by modern API-first platforms, can be leveraged to meet customer demand to boost customer acquisition, engagement, and loyalty in the process. All while having a positive impact on climate change.
Talk to the team to learn more.