Moneyhub Launches New Carbon Counter API ‘Recipe’, Unlocking the Ability to Give Customers an Overview of the Carbon Footprint of Their Financial Transactions

Moneyhub, the market-leading data and payments platform, has partnered with leading carbon measurement companies to launch its latest API ‘Recipe’, Carbon Counter, empowering businesses to deliver real-life insights to their customers into the environmental impact of their financial behaviours. The Recipe combines Moneyhub’s Open Banking and Open Finance API connections to ensure plugging into existing systems and solutions is quick, easy and cost-effective.

Using Moneyhub’s Carbon Counter API Recipe, businesses are able to provide customers with the carbon footprint for their transactions, giving them an instant overview of the environmental impact of their finances, along with personalised insight and guidance on how they can improve their carbon footprint and make more informed choices. By collaborating with market-leading companies such as Connect Earth and Cogo, Moneyhub is able to ensure the highest quality and accuracy in environmental impact data.

UK consumers are becoming increasingly more environmentally conscious. The ONS found that more than eight in ten (86.5%) adults in Great Britain have already made at least some changes to their lifestyle to help tackle environmental issues. This new tool will enable businesses to meet this customer need, better supporting them as they look to reduce their carbon emissions and footprint.

Kim Jenkins, MD of API at Moneyhub, comments: “We’re all becoming increasingly aware of our obligation to protect and minimise our impact on the environment, and it’s clear that this is a growing priority amongst consumers. Businesses are in a unique position where they could change behaviours across the UK and, in doing so, grow loyalty amongst their customer base.

However, accessing this data and applying the intelligence can be challenging, many of whom will be contending with legacy systems. And once the data is accessed it also needs to be analysed by a credible partner to enable these actionable insights. Using Open Banking and Carbon Analysis, businesses can easily access the connections and provide insights to customers to help influence their buying decisions and live more sustainably. We hope that our API Recipe better enables businesses to meet this customer demand, and help them to better understand the impact of their buying decisions and make improvements to the benefit of us all!”

For more information on Moneyhub’s Carbon Counter API Recipe and the other API Recipes currently offered, please see here, or to find out more details on our partners Connect Earth and Cogo.

ONS findings:  https://www.ons.gov.uk/peoplepopulationandcommunity/wellbeing/articles/mostadultsreportmakingsomechangestotheirlifestyleforenvironmentalreasons/2023-07-05#:~:text=More%20than%20eight%20in%20ten,between%20May%20and%20June%202023.