Climate First Bank, which is a full-service, FDIC-insured commercial bank focused on environmental sustainability, has acquired FinTech company Ecountabl.
Through this acquisition, Climate First Bank hopes it can accelerate the growth and strengthen the core capabilities of OneEthos, its digital banking FinTech service.
Ecountabl indexes data on over 10,000 companies, analysing their environmental, social and governance performances to help customers track how their purchases with brands align with their personal values.
OneEthos offers a variety of FinTech solutions, including financing for climate-positive technologies, online and mobile banking, and climate performance measurement and reporting. Its banking platform enables financial institutions and FinTechs to offer a range of banking products with built-in compliance, ESG reporting and core banking capabilities.
OneEthos is currently integrating Ecountabl’s technologies into its core platform, and its services will be usable by customers in 2023.
As part of the deal, Ecountabl co-founders Andrew Burr and Justin Bretting have joined OneEthos. Burr, who was the CEO of Ecountabl will become the chief growth officer at OneEthos, and Bretting will join as the chief technology officer.
Burr said, “We founded Ecountabl to enable financial institutions to better serve their customers.
“This acquisition ensures the technologies we built will have a positive impact in the world. We’re thrilled to join OneEthos and continue to build groundbreaking, climate-positive digital banking solutions.”
In other ESG news, digital credit service Bip launched a carbon footprint tool to its app, following a partnership with Cogo. Through this partnership, Bip users will see the carbon footprint of their spending on their digital credit account.
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