Cogo and Saascada have announced a strategic partnership aimed at reducing the carbon footprint of the financial industry. The collaboration will integrate Cogo’s carbon footprint management technology with Saascada’s digital banking platform, enabling banks and financial institutions to offer customers a way to track and manage the environmental impact of their financial activities.

Cogo, a company specializing in carbon footprint management, helps individuals and businesses measure, understand, and reduce their climate impact through innovative tools. Their technology assigns a carbon value to financial transactions, allowing users to see the environmental cost of their spending. This feature is designed to encourage more sustainable consumer behavior by providing actionable insights into reducing one's carbon footprint.

Saascada, known for its flexible and scalable digital banking solutions, will integrate Cogo’s technology into its platform. This move is expected to provide banks with the ability to offer their customers detailed insights into the carbon emissions associated with their purchases. By making this data available, banks can empower consumers to make more environmentally friendly choices, fostering a culture of sustainability within the financial sector.

Julie Lindenberg, CEO of Cogo’s Asia-Pacific division, emphasized the importance of this partnership, stating that it marks a significant step towards making sustainable banking practices mainstream. Lindenberg highlighted that the integration with Saascada will enable a broader reach, allowing more consumers to access Cogo’s carbon tracking tools and thereby contribute to global efforts in combating climate change.

The partnership also aligns with a broader trend in the financial industry where banks are increasingly looking to integrate sustainability into their operations. According to a report by IBS Intelligence, over eight in ten mobile banking users in the UK express a desire to understand the environmental impact of their spending. The integration of Cogo’s technology into Saascada’s platform is expected to meet this demand by providing users with the tools they need to make more informed, eco-friendly decisions.

Saascada’s CEO, Emma Kisby, echoed these sentiments, noting that this collaboration not only enhances the company’s offering but also positions it as a leader in sustainable finance. By partnering with Cogo, Saascada aims to deliver a seamless experience that not only benefits customers but also contributes positively to the environment.

This partnership follows Cogo’s previous collaborations with major financial institutions worldwide. The company has already established partnerships with banks in various regions, including the UK, New Zealand, and Singapore. These collaborations have demonstrated the effectiveness of Cogo’s technology in promoting sustainable financial practices, which is now being extended through the new alliance with Saascada.

The financial industry’s push towards sustainability is becoming more pronounced, with institutions recognizing the dual benefits of such initiatives: reducing their carbon footprint while meeting growing consumer demand for environmentally conscious services. The Cogo-Saascada partnership is poised to play a crucial role in this ongoing transformation, setting a precedent for future collaborations aimed at fostering sustainability in finance.