Clarity AI Acquires ecolytiq to Expand Sustainability Intelligence Platform
Clarity AI has acquired ecolytiq to expand the capabilities of its artificial intelligence-powered platform that helps individuals and organizations make more sustainable choices in their consumption and investments.
[contact-form-7]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.”
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