Bud teams up with Enfuce to bring carbon tracking to open banking

By Aisling Finn on Friday 11 June 2021

Digital Banking

The partnership will see Bud integrate Enfuce’s eco-friendly carbon tracker with fintechs and banks through its API.

Bud teams up with Enfuce to bring carbon tracking to open banking
Image source: Monika Liikamaa/Enfuce

Green finance is one of the biggest trends in fintech at the moment and Bud’s latest partnership just made carbon tracking so much easier.

The financial API provider has joined forces with Nordic eco-payments platform Enfuce to bring its ‘My Carbon Action’ product to the UK.

As part of the partnership, Bud’s open banking and transaction services will be combined with Enfuce’s carbon tracking platform to show UK customers how their spending impacts their carbon footprint. 

“Our partnership with Bud is a major step to accelerate change for the better on our planet,” said Monika Liikamaa, CEO of Enfuce. 

“My Carbon Action had a positive effect on 30 per cent of its users already during the proof of concept for Rabobank, and I’m confident it’ll have a significant role in reducing the CO2 emissions in the UK and the EU.”

Enfuce’s eco-friendly platform calculates how much carbon a consumer users, taking country-specific data and individual lifestyle choices into account.

“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,” Ed Maslaveckas, CEO of Bud, added. 

“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.”

Enfuce’s platform was developed using carbon tracking methodology developed by leading climate researcher Dr Michael Lettenmeier to give its users a personalised carbon footprint.

The partnership will see Bud offer carbon tracking to fintechs and banks through its API, growing consumer knowledge around the subject as we move closer to making green finance the norm.

A month ago, the open banking fintech launched its first product with First Direct, some 18 months after first announcing the partnership.

First Direct rolled out the Bud-powered spending app as it took its first steps to completely overhauling its digital banking app. 

Earlier in the year, Bud also signed several significant partnerships, including with New Zealand’s largest bank ANZ and with credit scoring app Credit Karma.

Founded in 2016, Enfuce employs over 70 people and connects to ten million users through its eco-friendly platform.

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