ecolytiq
Partner
The ecolytiq Sustainability-as-a-Service® future-proofs banks by providing the green banking products customers need to engage in effective climate action. The ecolytiq product suite provides banks with the products to inspire climate action among their customers.
The ecolytiq Sustainability-as-a-Service® future-proofs banks by providing the green banking products customers need to engage in effective climate action.
The product suite guides customers on a journey towards more sustainable lifestyles, from awareness on their personal environmental impact to engagement through embedded climate insight. The experience is rounded out with access to platforms for carbon credits, climate contributions, and impact investing.
With ecolytiq banks are empowered to both take scalable climate action and embrace the future of banking.
The benefits of integrating the ecolytiq product suite align with both the banks in their business strategies and their customer base being empowered to behave sustainably.
- New customer acquisition: Both challenger banks as well as established banks can attract new customers with a sustainable value proposition by expanding their core offerings and increasing the quality of their own app. Sustainable services that create meaningful value for customers in the banking app represent great potential for banks, especially in attracting sustainability-savvy target groups, which tend to be younger people or affluent households.
- Customer loyalty and engagement: Many of the large banks already have a substantial customer base. One of their main goals is to increase engagement with that customer base. Sustainability and behavioral change, enabled by the inclusion of climate awareness, education, and action tools, are extremely important for this. The potential of such an offering is impressive and has already shown to increase usage of the banking app. Customers, who see their bank as a partner in the fight against climate change, are also less likely to swap to a bank that is not offering a green value proposition.
- Increased share of wallet: Banks can leverage sustainable offerings and initiatives as part of their business strategy by creating value-added green banking services for their existing customer base. With the sustainable features, the bank with the sustainable value proposition becomes more top-of-the-wallet with their customers, encouraging them to use to prefer their green banking products over other financial platforms.
- New revenue streams: By introducing new products (e.g., sustainable co-branded credit cards or green accounts), banks can add sustainable offerings to their card and product portfolio. Today, we can already see that banks can charge significantly more for a green credit card or green account than for their standard product. There are already many players, especially in the European market, that charge a considerable account dee for the sustainable card. In addition, providing access to carbon credits and climate contributions projects as well as impact investments present important monetization opportunities for banks.
- The environment benefits: Banks want to take impactful actions that go beyond the regular sustainability initiatives in the financial industry. By implementing the ecolytiq solution suite, the bank's own customers are empowered to make more sustainable consumption choices - which has proven to generate considerable reduction in personal emissions. This allows banks to leverage their positions to empower their user base, and actively contribute to climate protection in an effective way.