May 26, 2024

Taylor Daily Press

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New banking app wants to educate customers about its impact on climate |  environment

New banking app wants to educate customers about its impact on climate | environment

A new banking app differentiates itself from the competition by emphasizing sustainability. This became evident today in The Banx Show, a project by Proximus and Belfius. The goal is to provide the customer with insight into the ecological footprint of their consumption pattern by calculating the CO2 emissions of each expenditure or investment they make. For this purpose, the expertise of the Swedish financial technology company Doconomy is called.

Banks’ release was announced about a year and a half ago. Since then, the world has evolved radically. Proxiumus CEO Guillaume Boutin says the coronavirus pandemic has accelerated digitization and awareness in Europe about the importance of technological and industrial innovation. Climate issues are also more topical than ever.

The new Banx banking app responds to these challenges: it is 100% digital and entirely locally developed. There is also cooperation with Belgian partners. But the focus on sustainability is perhaps the most innovative. The customer gains insight into the impact of climate on their consumption pattern. “We don’t want to be pedantic, but we do want to make people aware and inspire them to make sustainable choices,” it sounded.

plane trip

The app uses technology from Doconomy, which places a CO2 label on everyday products. The company already processes 90 million accounts per month worldwide. For example, Banx customers who book a plane ticket will see how much emissions that flight generates. For other payments, such as buying coffee or a refrigerator, CO2 averages will be used instead.

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Matthias Wikström, CEO of Doconomy, was present at Banks’ presentation today. “Our technology isn’t 100 percent perfect yet, but it’s an important stepping stone. We’re running a marathon, not a sprint, and thanks to technological innovation and a wealth of data, changing consumption behavior has never been easier,” he noted.

“Unique Collaboration”

According to Marc Raisier, CEO of Belfius, the collaboration with Proximus is “unique in Europe and perhaps even in the world.” Two major Belgian brands combine their strengths. Proximus is also the first telecommunications company in the world to collaborate with Doconomy.

Banx is open to everyone, so not just for existing Proximus or Belfius customers. The transition to a client is completely digital and takes only a few minutes. The application offers two formats: a free form with one account number, a contactless debit card and a payment option (6.5 euros per month), with additional accounts and payment cards included. Clients can also invest in sustainable funds from Belfius, starting at €25 per month.