FinTechs join forces to combat climate change

Doconomy and Atto will work to bring climate functionality to a wider audience verifying the development of tools that enhance environmental considerations.
Published on
July 8, 2021
Latest News

Global FinTech Atto have signed a partnership agreement with pioneering Swedish impact tech company Doconomy.

Doconomy is an impact-tech company using the power of data and technology to create a broader awareness regarding the climate effects from consumption and enable users to take action towards a more resilient lifestyle. Doconomy has devised a series of tools for understanding, educating, and driving positive movement to tackle climate change.

Global FinTech Atto is the world's foremost expert in global credit risk through the application of real-time bank data. Atto have applied their expertise in bank data to solving current problems found within the credit risk lifecycle. Affordability, income, account verification, emerging financial distress and categorisation & classification of accounts can all be readily calculated using bank data.

Doconomy’s service, The Åland Index, calculates transaction level climate impact. The Åland index is available to banks and payment providers shared through API and helps consumers become aware of their impact on the planet. The Åland Index is the leading index solution for CO2 emission calculations for payments and financial transactions with partnerships with banks and payment providers representing, up to this date, 360 million users in 18 countries. From June 1, 2021, the Åland Index also includes freshwater calculations, a unique world’s first for H2O.

Doconomy and Atto will work together to bring climate functionality to a wider audience. The partnership will verify and guide the development of tools that further enhance environmental considerations, helping consumers make more informed decisions and encourage a more sustainable lifestyle.

This new partnership between Doconomy and Atto illustrates the wide range of use cases that bank data can support. Atto already support solutions across the credit risk lifecycle, from customer onboarding, portfolio management, identifying emerging financial distress through to collections & recoveries.

James Varga, CEO of Atto, said:

As we continue to grow our reach and capability, having a trusted set of partners is critical to our future success. We are delighted to have signed this agreement with Doconomy.

We are increasingly seeing new and diverse ways that bank data can support use cases across industry and sector. Using bank data to help us to understand business and consumer’s environmental impact is yet one more way that Atto’s bank data expertise can support another tech company.

Mathias Wikström, CEO of Doconomy, said:

With Atto joining us in shaping a new normal based on impact transparency, we are excited to see additional opportunities for continuous development of tools in support of climate action. Atto bring equal amounts of expertise and passion to the table and we are excited to team up on the most important challenge of all.

About Atto

Atto is a Global Credit Risk Platform that is redefining the industry for both lenders and their consumers by leveraging customers real-time bank data.

The platform leverages Open Finance and bank statement data to help understand customers throughout the credit risk lifecycle from onboarding through to collections & recoveries.

Using Atto’s platform our customers have increased conversion (~45% increase), reduced costs through faster decisioning (days to seconds), decreased fraud rates (~7.5%) while providing the end-users with the convenience they demand.

Today Atto powers some of the worlds biggest brands from banking, consumer and SME lending through to gig economy, gambling and more.

Atto’s Platform provides global access to bank data through over 13,000+ connections across 45 countries supporting access to over 1.5bn people through one simple integration. Our Insights provide solutions to common lending questions such as affordability, income verification, expense categorisation, cash flow, emerging financial distress and more all available directly or through the Platform itself.

The business is authorised by the FCA to provide AISP (Account Information Service Provider) services.

About Doconomy

Doconomy, founded in Sweden 2018, provides digital solutions to help track and measure the carbon footprint. Doconomys service, DO, a mobile banking app, manages savings and promotes sustainable consumption. The Åland Index Solutions impact calculations in DO use data, covering 99% of global market cap, through a unique partnership with Trucost, a part of S&P Global. Through Doconomys collaboration with the United Nations Climate Change Secretariat (UNFCCC), to educate and engage individuals around climate action, additional innovative tools to explain our impact are also developed. Doconomy utilizes innovation, data, and design to support consumer change of behaviour by enabling well-informed choices, which in turn, promote responsible consumption. The 2030 Calculator is such an innovation, to increase transparency and responsibility on product level.

Stay up to date with the latest
Atto news

Get the latest news, thought leadership, product updates and customer stories straight to your inbox - subscribe to our blog today.