The Best Fintech Partnership is given to a financial institution and fintech company working together to build ground breaking capabilities and challenging the status quo within the financial services industry. Our submission highlights how the unique combination of Standard Chartered’s expertise in consumers’ financial journeys and Moneythor’s flexible system of engagement is able to create a highly differentiated digital banking service, enabling the bank to provide its customers with a tailored experience contributing to improving their financial wellbeing.

We are thrilled to have been shortlisted and believe that this is a testament to the highly collaborative journey we’ve been on together, with an exciting set of further enhancements ahead of us.

All the best to the other finalists, and we are looking forward to hearing the results.

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Right off the bat, Trust Bank provides consumers with an engaging proposition including a credit card, a savings account and a breadth of benefits, backed by its founding partners Standard Chartered, one of the world’s most trusted banks and FairPrice Group, Singapore’s leading grocery retailer.

As a pioneer digital-only bank in Singapore, Trust Bank will be charting the path for delivering a breakthrough client experience enabled by its best-in-class technology platform.

The Moneythor team is privileged to have been chosen among a select group of technology partners to power key features of the data-driven digital experiences offered to the bank’s customers.

Congratulations once again to Trust Bank and their ecosystem of partners who have worked together to make this possible. We look forward to a continuous flow of innovations designed to help consumers enhance their financial wellbeing.

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Leveraging Moneythor’s data-driven system of engagement, NAB aims to give customers more control of their money to help them reach their goals. Customers will build their financial wellbeing through personalised recommendations, insights and nudges.

Olivier Berthier, CEO of Moneythor, “We are delighted to have been chosen by NAB to provide intelligent and engaging digital banking to their customers. As a major financial institution, NAB places personalisation and financial wellbeing at the core of their commitment to their customers. It it is exciting to be a part of this journey to enable the next level of digital engagement for their customers.”

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The partnership comes just months after the release of a report that highlights extreme weather and climate change impacts across Asia which “…caused the loss of life of thousands of people, displaced millions of others and cost hundreds of billions of dollars, while wreaking a heavy toll on infrastructure and ecosystems.“

“Moneythor is committed to ‘sustainable finance’ and believes that personal and business banking has an important part to play in reducing our collective environmental impact. The work we’re doing with Cogo helps provide carbon emissions data to customers quickly and easily; as well as encourage them to make lower carbon choices,” comments Olivier Berthier, CEO and Co-Founder of Moneythor.

Moneythor is already integrated with over 20 financial institutions globally, including ANZ (Australia), BNZ (New Zealand), CIMB (Malaysia), DBS (Singapore, Hong Kong, India, Indonesia), OKB (Japan) and Standard Chartered Bank (Singapore, Hong Kong) among others, and continues to grow rapidly across the region and beyond. Simultaneously, Cogo’s recent expansion into Asia means the partnership is well timed. “Asian customers are looking for greater transparency around their spending footprint and this is going to be much easier in future with Moneythor helping to facilitate this through integration of Cogo’s technology into their data enrichment engine. Cogo is currently in discussions with several of Asia’s biggest banks around carbon footprint integration, amidst increasing demand from customers and businesses for transparency around this kind of data,” comments Ben Gleisner, CEO and Founder of Cogo.

Exponential impact

Enabling banks to empower their customers and give them a better understanding of their carbon footprint can make a positive impact across Asia. “This collaboration has the opportunity to impact Asia’s entire carbon footprint by enabling repeatable, purposeful exchanges between the two biggest global contributors to over-consumption: businesses and customers. That’s real change; and it’s exponential impact,” says Ben.

Answering customers’ demand for transparency

He adds: “By leveraging Moneythor’s solution to generate personalised insights into customers’ finances, we give them the ability to align their spending with their environmental and social values. This is a huge drawcard for banks. Understanding the climate impact of your spend is shifting from being ‘good to know’ to something that customers demand. We’re already experiencing this phenomenon worldwide – Cogo currently works with five of the world’s top 50 banks, with this number expected to double over the next year. Customers expect more; and banks who offer them the ability to be proactive about managing their spend experience increases in loyalty and trust.“

Banks including NatWest (one of the UK’s top 5) and Commonwealth Bank (Australia’s largest) both use Cogo within their banking app to enable customers to see the CO2 emissions associated with their daily spending. NatWest’s customers are provided with hints and tips on how to go greener and resources to help them along their journey; while CommBank users are offered the option to offset their emissions using credible projects.

How it works

Moneythor helps banks worldwide to turn customer data into unique, personalised and engaging digital experiences, including nudging customers towards better financial decisions off the back of powerful transaction analysis tools. Cogo’s world-leading sustainability data sets will enrich this data to help customers and businesses to understand, reduce and offset their carbon footprint – all within an existing digital experience.

“Combining forces makes sense from a technology perspective. Moneythor’s platform gives banks the ability to quickly enrich and add contextual information to a customer’s spend at scale; while Cogo’s API and white label products allow them to assign ’emissions’ to each of these transactions – giving customers accurate insight into their carbon footprint. What’s more, our actionable nudge engine is leveraged to help shift customers towards more responsible financial choices, including climate impact reduction. Working with Cogo to supercharge this functionality is an obvious next step,” adds Olivier.

A go-to solution for change

I​​nsights from NatWest’s mobile app pilot showed the average user saved approximately 11 kg of CO2 emissions per month by committing to behavioural changes that used less carbon – such as composting, reducing meat consumption, or switching utilities providers. If this behaviour was replicated across NatWest’s 8 million customers who use the mobile app, it would save more than 1 billion kg of CO2 emissions per year, equivalent to planting 17 million trees.

“There’s never been a more important time to impact the world’s carbon footprint. We’re proud to be the go-to solution for change for the world’s largest enterprises, and we’re excited about expanding this change throughout Asia, in partnership with Moneythor,” concludes Ben.

About Cogo

At Cogo, we’re on a mission to empower hundreds of millions of customers and businesses world-wide to take action by measuring, reducing and compensating for their impact. Understanding the effect you’re having individually; and as part of our team of millions enables everyone to join together to create a fairer and more sustainable world. Through our sustainability solution offerings, we help businesses and customers measure and improve their impact on people and the planet. Our pioneering technology and data helps people better understand the effects of their daily decisions and helps them take climate action. We support and encourage people on their journey to becoming more conscious customers.

Learn more at cogo.co

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The partnership will now enable Moneythor to offer their fully white-labelled and scalable solution with integrated Envestnet | Yodlee financial data aggregation. The solution will provide access to consumer-permissioned financial data from over 100 financial institutions across Australia and New Zealand to give consumers a holistic and dynamic view of their financial situation.

The Moneythor solution uses data analytics and behavioural science techniques to improve functionality and experience for banking customers across digital channels to provide actionable financial guidance. It utilises data sources from multiple banks and financial institutions, facilitated in part by Envestnet | Yodlee’s Financial Data Aggregation Platform, to deliver highly personalised and engaging content. Use cases include notifications which assist customers with personal financial management (PFM), financial literacy & advisory, targeted offers and more. By combining this with Envestnet | Yodlee’s advanced data aggregation solution, financial services providers can turn data into more meaningful digital experiences for their customers.

The combined solution is already used by companies including Raiz, the leading micro-investing platform in Australia, to provide customers with financial wellness tools driven by aggregated account and transaction data.

Moneythor has a global portfolio of clients including traditional banks such as ANZ, BNZ, CIMB, DBS and Standard Chartered Bank among others, as well as digital banks and FinTechs. It has a proven track record of implementing data-driven personalisation across multiple regions.

Envestnet | Yodlee is the market leader in financial data aggregation, enabling innovation and insights for financial service providers. It has partnered with more than 1,400 financial institutions and FinTech innovators, which enables firms to build innovative financial solutions with access to an industry-leading application programming interface (API). Envestnet | Yodlee is an Accredited Data Recipient and Intermediary under the Consumer Data Right.

Commenting on the partnership, Olivier Berthier, CEO and Co-Founder of Moneythor, notes, “the combination of Envestnet | Yodlee’s experience in comprehensively and securely aggregating data and Moneythor’s ability to enable personalised digital banking experiences results in financial firms of all sizes deploying differentiated features to their customers within a short time-frame. The demand for these types of solutions is continuously growing, and we are delighted to add Envestnet | Yodlee to our list of partners and to bring these solutions to life across Australia and New Zealand.”

“Enabling financial institutions to utilise Envestnet | Yodlee’s rich financial data, combined with Moneythor’s customer experience solutions, means they can communicate with their customers in new, engaging and purposeful ways,” said Timothy Poskitt, Country Manager ANZ at Envestnet | Yodlee. “By truly understanding customers through data insights, and utilising technology to engage with them effectively, finance service providers can significantly improve the experience they offer and generate revenue by providing consumers with the information and personalized guidance they need to improve their financial health.”

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