Clarity AI Acquires ecolytiq to Enhance Sustainability Intelligence Platform

Clarity AI buys sustainability fintech ecolytiq

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. US-based Clarity AI uses artificial intelligence to provide data-driven environmental and social insights to investors, corporates, governments, and consumers. The firm works with a host of financial services giants and, within the investment sector, serves a direct network of clients managing around $70 trillion in assets. The deal to buy Berlin-based ecolytiq expands Clarity AI's climate engagement offering for global retail and commercial banking financial institutions. Ecolytiq's platform specialises in analysing real-time transaction data to quantify environmental footprints and deliver high-impact sustainability content, powered by behavioural science and designed for measurable impact. Its white-label solutions have been used by firms such as HSBC to offer millions of consumers and business clients climate insights. This has been amplified through a long-term strategic partnership with investor Visa, which now becomes an investor and partner of Clarity AI. Rebeca Minguela, CEO, Clarity AI, says: "We are transforming sustainability insights into a catalyst for action. ecolytiq's platform aligns perfectly with our mission to embed sustainability intelligence into every decision -- from multi-billion-dollar portfolios to everyday purchases."

Clarity AI Acquires ecolytiq to Expand Sustainability Intelligence Platform | PYMNTS.com

By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions. Ecolytiq's platform, which can be added to banking apps to provide individuals with information they can use to reduce their carbon footprint, is now part of Clarity AI's sustainability intelligence product portfolio, the companies said in a Wednesday (July 9) press release. As part of the acquisition, Visa, which has a long-term partnership with ecolytiq, has become an investor and strategic partner of Clarity AI, according to the release. "Ecolytiq's platform aligns perfectly with our mission to embed sustainability intelligence into every decision -- from multi-billion-dollar portfolios to everyday purchases," Clarity AI Founder and CEO Rebeca Minguela said in the release. "Together, we're setting a new standard for how financial institutions engage consumers with data that drives meaningful change." David Lais, co-founder and managing director at ecolytiq, said in the release that the acquisition supports the firm's mission of helping individuals "drive positive climate impact at scale through their everyday purchasing decisions." "By joining forces with Clarity AI, we're taking that vision to the next level -- combining our behavioral science-based climate engagement technology with a world-class, AI-driven sustainability platform," Lais said. "Together, we're accelerating the transition to a greener future -- powered by the best available data and backed by purpose." PYMNTS reported in August 2022 that ecolytiq was among the firms supporting the growing number of European banks that were adding features to their mobile banking apps that allow users to monitor the carbon emissions their spending generates. At the time, ecolytiq had picked up several banking clients in the previous months and had added another source of payment data to assess what consumers were spending their money on and calculate their carbon footprint. As for Clarity AI, it teamed up with payments technology and shopping service Klarna in March 2023 to provide environmental impact information to consumers who purchase electronics. Salah Said, director of sustainability and ESG at Klarna, said at the time in a press release that the collaboration "marks a significant milestone in our continued effort to empower shoppers to vote with their wallets."