Cogo, a leading carbon footprint management expert, has broadened its partnership with NewDay, a prominent financial services provider.
Together, they aim to augment the features of the Aqua credit card, a product under NewDay’s portfolio.
The central purpose of the enhanced partnership is to enable Aqua card users to monitor the carbon footprint of their purchases, offering them insights into the environmental impact of their spending.
Cogo specialises in estimating CO2 emissions related to consumer expenditure. Their advanced system categorises purchases into distinct sections like ‘travel’ and ‘fashion’. Using these classifications, Cogo determines the emissions resulting from each transaction, considering factors like the carbon-intensity of the respective retailer or the broader workings of the relevant sector.
NewDay, on the other hand, is a financial services company offering unique products like the Aqua card. They previously integrated Cogo’s carbon tracking tool into their digital credit card, Bip, witnessing considerable success and user engagement.
The integration of the carbon tracking tool with the Aqua card comes after its successful launch with NewDay’s Bip digital credit card in November of the previous year. Notably, every fourth time Bip customers accessed their transaction details in the app, they utilised the carbon footprint tool, highlighting a robust demand for such features among NewDay’s clientele.
Cogo embarked on its first banking collaboration in November 2021 and has since established ties with 16 banks across the globe.
Cogo CEO EMEA, Emma Kisby, said, “Expanding our partnership with NewDay is particularly pleasing as it demonstrates the strength of our partnership and that the technology we’ve created is working well for their customers.”
Sharvan Selvam, Commercial Director at NewDay, commented, “Consumers are increasingly conscious about the environment, and the role they play in helping reduce carbon emissions. Having carbon tracking insights within the app gives customers easy access to the information they need to better understand how their purchase decisions impact their personal carbon footprints.”
Emma Kisby added, “It is increasingly important for financial service providers and banks to respond to the wants and needs of their customers. We know from research that 62%** of customers are looking to their financial services providers to help them lower their environmental impact so it is great to see NewDay tackling this head on with the launch of carbon insights for another of its products.”
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