Tink teams up with ecolytiq

German sustainability-as-a-service provider ecolytiq has partnered with Tink to use Open Banking to help tackle climate change.

Through the strategic partnership ecolytiq, which offers a solution that enables banks, fintechs and financial service providers to show their customers the impact their purchases have on the environment, will embed Tink’s ‘Transactions’ product.

This complements ecolytiq’s sustainability-as-a-service solution by letting their customers access users’ real-time transaction data directly from their bank accounts, which ecolytiq’s customers can then use to offer their own users a “more complete overview” of their expenses and their environmental impact.

“Ecolytiq’s solution was created with the ability to quickly scale, because we know that global warming needs exponential climate action enablers,” said ecolytiq CEO and co-founder Ulrich Pietsch.

“Tink is a strategic partner with a proven track record for delivering banks and their customers with the digital solutions they want and need.”

Ecolytiq’s integration with European Open Banking platform Tink will start in the DACH region, before expanding to more European markets.

Cyrosch Kalateh, regional director for the DACH region at Tink, said: “The combination of Tink’s Transactions product and ecolytiq’s sustainability expertise creates a valuable proposition for financial institutions and fintechs across the DACH region, so they can offer services that better measure and help reduce [their] carbon footprint.

“We look forward to extending this partnership in the future, helping ecolytiq to expand at speed across Europe on our Open Banking platform.”

In June this year, Tink was acquired by Visa in a deal worth €1.8 billion.