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DirectID and Doconomy join forces to combat climate change

Source: DirectID

Global FinTech DirectID 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 DirectID is the world's foremost expert in global credit risk through the application of real-time bank data. DirectID 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 DirectID will work together to bring climate functionality to a wider audience. The partnership will verify and guide the development of tools that further enhance the environmental considerations and helping the consumers to make more informed decisions and encourage an updated, more sustainable lifestyle.

This new partnership between Doconomy and DirectID illustrates the wide range of use cases that bank data can support. DirectID 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 DirectID, 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 DirectID’s bank data expertise can support another tech company.”

Mathias Wikström, CEO of Doconomy, said:
“With DirectID joining us in shaping a new normal based on impact transaparency, we are excited to see additional opportunities for continuous development of tools in support of climate action. DirectID bring equal amounts of expertise and passion to the table and we are excited to team up on the most important challenge of all.” 

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