Moneyhub, a prominent data and payments platform, has recently introduced its newest API, ‘Recipe’, Carbon Counter. This innovative tool is the product of a collaboration with key carbon measurement companies and aims to offer businesses real-time insights into the environmental impact of their customers’ financial transactions.
By utilizing Moneyhub’s Open Banking and Open Finance API connections, the Carbon Counter API provides a seamless and cost-effective integration with businesses’ existing systems and solutions. This enables companies to deliver detailed information on their customers’ financial activities’ carbon footprint, granting them immediate access to their environmental impact. Additionally, the API offers personalized insights and guidance to assist customers in making more informed decisions to reduce their carbon footprint.
The partnership with industry leaders such as Connect Earth and Cogo ensures the highest quality and accuracy in environmental impact data, ensuring the reliability of the information provided by the Carbon Counter API.
As public awareness of environmental issues continues to grow, UK consumers are increasingly mindful of their environmental responsibilities. According to the Office for National Statistics (ONS), over 86.5% of adults in Great Britain have made lifestyle changes to address environmental concerns. In light of this, the Carbon Counter API is well-positioned to assist businesses in meeting the escalating customer demand for sustainable solutions that help reduce carbon emissions.
Kim Jenkins, Managing Director of API at Moneyhub, emphasized the significance of businesses in driving positive change and fostering customer loyalty through environmental responsibility. Jenkins highlighted the challenges faced by businesses in accessing and applying environmental data, particularly when dealing with legacy systems. By utilizing Open Banking and Carbon Analysis, Moneyhub enables businesses to easily access connections and provide insights to customers, allowing them to make more sustainable purchasing decisions.
In conclusion, the launch of Moneyhub’s Carbon Counter API presents an exciting opportunity for businesses to meet the increasing customer demand for sustainable solutions. By offering real-time insights into the environmental impact of financial transactions, businesses can empower customers to make informed decisions that contribute to a lower carbon footprint. This not only benefits the environment but also helps businesses build loyalty and trust with their customer base.
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Source:
FinTech Global. (2024). “Moneyhub launches Carbon Counter API to track financial carbon footprints”. FinTech Global.