May 10, 2021: Sustainable Statements w/ Kivra

Written by Dragos Cocosila

We have a lot to share this week as part of our passion to continue providing you with industry-leading information on the global Open Banking segment. This update will have the weekly additions to the Open Banking Tracker (Banks, APIs, TPPs, etc.), a look at how Open Banking is encouraging sustainable behavior.

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Our Current Coverage

  • • We track 2,809 banks providing Open Banking services! (+3 from last week!)

  • • 1,024 APIs currently tracked on our platform!

  • • 434 TPPs in the ecosystem!

  • • 86 Global markets covered!

  • • 35+ Open Banking API Aggregators! (+1)

  • • PSD2 API & PSD2 Open Banking coverage!

  • • Track over 60+ data points for all Open Banking projects!

And we are growing on a continuous basis... 🚀🚀🚀

Developments (Apr 27th to May 10th):

We initiated coverage and provided Open Banking API information for:

  • Banco Bradesco: is the third largest banking institution in Brazil, as well as the third largest in Latin America.

  • Bank of Brazil: is the second largest banking institution in Brazil.

  • Trio: A Brazilian API Aggregator!

  • • Biggest Publicly Available TPP Registry in the Industry! 🚀🚀🚀

  • • And many more!

We continue to cover over 35 aggregators!


Open Banking Use Case Spotlight: Ecofriendly Statements w/ Kivra

Every year there are tens of billions of invoices issued to consumers worldwide. Unfortunately, many of these are still paper-based, leading to millions of trees being cut down in an unsustainable use of the planet’s forests and emitting harmful CO2 in the process. A viable alternative to the paper invoice has been the e-statements that are now an option with most goods and services providers. And while this helps in the fight against climate change, there is still a significant proportion of the population that prefers to receive paper statements. The preference seems to be linked to the fact that a paper statement is a physical reminder that a payment is due, so it's more convenient for the consumer. So, it stands to reason that if the e-statements were even easier to use, more people would prefer them, and that’s precisely what a company called Kivra is trying to achieve.

Kivra is a Swedish fintech that acts as a digital mailbox for communication between companies and consumers. People can receive their monthly statements in a digital format, thus saving millions of pieces of paper from ending up in the landfill each year. Tuire Mäkelä, the Head of Commercial Payment Solutions at a company that uses the service to bill their customers, said that they “hope that the effortlessness of Kivra will inspire as many people as possible to switch their paper invoices to a new, environmentally friendly option.” To enhance consumers' incentives to receive e-statements, Kivra employs Open Banking powered direct payments to make the digital option even easier to use now that a consumer doesn’t have to use a different payment method.

The takeaway:

Educating consumers on the causes and consequences of climate change can only yield positive action on the subject. Still, if you provide them a way to live a more sustainable life that also simplifies their life, then the switch is much easier to make. So we’re excited to see that companies like Kivra are using the Open Banking framework to empower consumers to choose a more sustainable relationship with the companies with which they interact.


Feedback

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Have a great week and stay safe!

The Banq team

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