Cogo Partners with Green Bank, Tandem, to Help Customer Lower Their Carbon Footprint
ENGLAND, UNITED KINGDOM, October 10, 2024 /EINPresswire.com/ -- Green fintech, Cogo, is today announcing its partnership with the UK’s greener digital bank, Tandem, has evolved to now offer customers a carbon management solution which is integrated into the bank’s app. Working together since Nov 2022 the extension to this partnership will now enable customers to easily measure, understand and reduce their carbon footprint.
Emma Kisby, Cogo CEO, EMEA: “Banks have a critical role to play in helping to motivate and mobilise their customers to decarbonise. Tandem already supports their customers with greener living, through initiatives such as their green home plan, so the partnership with Cogo is a natural extension which will help to engage customers further.”
Tandem’s annual Green Gap Index has shown that despite an ongoing willingness among consumers to reduce their carbon footprint, a general lack of awareness and understanding about their impact and potential solutions present major obstacles to progress in making greener choices. Cogo’s research has also shown that three out of four (75%) of banking customers want to know about the environmental impact of their spending, and over two thirds (62%) want their bank to help them reduce their impact.
Tandem aims to roll out this new app functionality with a smaller segment of users before rolling it out more widely next year. Through the integration with Cogo’s services, Tandem will also open up the app to all consumers in the UK, irrespective of whether they are Tandem customers or not. This would mean a simplified sign-up process for anyone to be able to use the free green tools and services provided within the app.
Kisby adds: “We know from our experience working with other banks globally that customers have a positive response to learning about their carbon footprint. On average, our banking clients see a 14+ NPS uplift from customers using the carbon footprint technology, with average dwell times of 4-6mins. These types of positive customer metrics are almost unheard of for banks due to the typically transactional relationship they have with clients, so there is a clear opportunity for banks to align purpose with profit.”
Maria Khan, Director of Product and Digital at Tandem Bank, says: “Being aware and understanding your carbon impact is vital to consumers in making changes to cut their own emissions. Cogo allows Tandem to integrate this seamlessly, and I’m proud we can extend our partnership and roll this out to Tandem customers and to those who want to make green choices.”
ENDS
*Cogo and the Behavioural Insights Team research, 2022
Contact
Ania Krwawicz-Sheath
ania@cogo.co
press@tandem.co.uk
Andrew.pyle@56degreesnorth.co.uk
About Cogo
Cogo delivers carbon management solutions that help individuals and businesses to measure, understand and reduce their impact on the climate. Cogo does this through partnerships with some of the world's largest banks to integrate leading carbon-tracking functionality into their banking apps.
Cogo uses best-in-class models to provide accurate ways to measure carbon emissions specific to local markets and cutting-edge behavioural science techniques to nudge customers to make more sustainable choices.
Cogo currently works with 17 banks, with plans to double this in the next twelve months. Founded in 2016, Cogo, operates in 12 countries across Europe, Australasia and North America (including the UK, Netherlands, New Zealand, Australia, Japan, Singapore and Canada).
Cogo has raised over US$14 million in funding since launch.
To find out more information about Cogo, please visit cogo.co.uk
About Tandem
As the UK’s greener, digital bank, Tandem’s on a mission to help the UK transition to a lower carbon lifestyle. We call this banking for a greener future.
Banking Shouldn’t cost the earth. Tandem offers greener ways to save, borrow, spend and share. From loans for greener home improvements and lower emission vehicles, to EPC discount mortgages and green savings, our products make it easier for more people to choose a greener lifestyle – helping save money, whilst reducing carbon footprints.
Launched in 2014 as one of the UK’s original challenger banks, we’re proudly headquartered in the North West, and now employ over 500 people across Blackpool, Cardiff, Durham and London.
Tandem Bank Limited t/a Tandem is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
To find out more visit www.tandem.co.uk
Emma Kisby, Cogo CEO, EMEA: “Banks have a critical role to play in helping to motivate and mobilise their customers to decarbonise. Tandem already supports their customers with greener living, through initiatives such as their green home plan, so the partnership with Cogo is a natural extension which will help to engage customers further.”
Tandem’s annual Green Gap Index has shown that despite an ongoing willingness among consumers to reduce their carbon footprint, a general lack of awareness and understanding about their impact and potential solutions present major obstacles to progress in making greener choices. Cogo’s research has also shown that three out of four (75%) of banking customers want to know about the environmental impact of their spending, and over two thirds (62%) want their bank to help them reduce their impact.
Tandem aims to roll out this new app functionality with a smaller segment of users before rolling it out more widely next year. Through the integration with Cogo’s services, Tandem will also open up the app to all consumers in the UK, irrespective of whether they are Tandem customers or not. This would mean a simplified sign-up process for anyone to be able to use the free green tools and services provided within the app.
Kisby adds: “We know from our experience working with other banks globally that customers have a positive response to learning about their carbon footprint. On average, our banking clients see a 14+ NPS uplift from customers using the carbon footprint technology, with average dwell times of 4-6mins. These types of positive customer metrics are almost unheard of for banks due to the typically transactional relationship they have with clients, so there is a clear opportunity for banks to align purpose with profit.”
Maria Khan, Director of Product and Digital at Tandem Bank, says: “Being aware and understanding your carbon impact is vital to consumers in making changes to cut their own emissions. Cogo allows Tandem to integrate this seamlessly, and I’m proud we can extend our partnership and roll this out to Tandem customers and to those who want to make green choices.”
ENDS
*Cogo and the Behavioural Insights Team research, 2022
Contact
Ania Krwawicz-Sheath
ania@cogo.co
press@tandem.co.uk
Andrew.pyle@56degreesnorth.co.uk
About Cogo
Cogo delivers carbon management solutions that help individuals and businesses to measure, understand and reduce their impact on the climate. Cogo does this through partnerships with some of the world's largest banks to integrate leading carbon-tracking functionality into their banking apps.
Cogo uses best-in-class models to provide accurate ways to measure carbon emissions specific to local markets and cutting-edge behavioural science techniques to nudge customers to make more sustainable choices.
Cogo currently works with 17 banks, with plans to double this in the next twelve months. Founded in 2016, Cogo, operates in 12 countries across Europe, Australasia and North America (including the UK, Netherlands, New Zealand, Australia, Japan, Singapore and Canada).
Cogo has raised over US$14 million in funding since launch.
To find out more information about Cogo, please visit cogo.co.uk
About Tandem
As the UK’s greener, digital bank, Tandem’s on a mission to help the UK transition to a lower carbon lifestyle. We call this banking for a greener future.
Banking Shouldn’t cost the earth. Tandem offers greener ways to save, borrow, spend and share. From loans for greener home improvements and lower emission vehicles, to EPC discount mortgages and green savings, our products make it easier for more people to choose a greener lifestyle – helping save money, whilst reducing carbon footprints.
Launched in 2014 as one of the UK’s original challenger banks, we’re proudly headquartered in the North West, and now employ over 500 people across Blackpool, Cardiff, Durham and London.
Tandem Bank Limited t/a Tandem is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
To find out more visit www.tandem.co.uk
Ania Krwawicz-Sheath
Cogo
ania@cogo.co
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