Cogo, the sustainability fintech that partners with financial institutions to help customers lower their carbon footprint, and Moneyhub, the data and payments platform built on open banking and open finance principles, are partnering to help banks and financial institutions develop more ethical and sustainable financial wellness products.
In turn, both companies will help support their customers to make better, more ethical financial decisions, improving their lifestyle and the climate. At the core of both Cogo and Moneyhub’s purpose is the desire to make positive change through the use of data.
Speaking about the partnership, Emma Kisby, CEO at Cogo, comments: “When it comes to tackling ESG regulation and helping to address the climate crisis in particular, collaboration is key.”
Vaughan Jenkins, managing director for strategic accounts and partnerships at Moneyhub, adds: “At Moneyhub we’re on a mission to enhance the lifetime financial wellness of people, their communities and their businesses, including how we support them with their ESG ambitions.
Financial awareness through education
Given the natural link between financial wellness and carbon impact, the first project that Cogo and Moneyhub plan to address is around educating customers who are experiencing the effects of the cost of living crisis. A large percentage of the UK population is struggling to live within their financial means. Especially with energy, fuel and food at record prices.
At the same time, these are some of the biggest contributors to an individual’s carbon footprint. Cogo and Moneyhub will be looking to work together to help banks educate their customers on the cost and carbon impact of the lifestyle decisions they are making. All the while they will also be advising actions they can take to improve their financial wellbeing and carbon footprint.
Cogo currently partners with 20 banks across the globe, with plans to double this within the next year. Moneyhub currently partners with well over 100 financial institutions globally.