Doconomy, a leading impact fintech company providing banks with innovative tools to drive climate action and financial wellbeing, is thrilled to announce the launch of its carbon footprint measurement feature within Citibank Hong Kong’s newly introduced Wealth360, a pioneering digital wealth management feature on the Citi Mobile App.
This integration is powered by Planto's advanced AI-driven Data Enrichment engine, further enhancing the user experience and financial insights available on Wealth360.
This collaboration marks a significant milestone in promoting environmental awareness and sustainability among financial services users in Hong Kong. Citi Ventures and Mastercard have been great supporters in advancing Doconomy and Citibank Hong Kong’s shared mission of fostering innovation and driving the sustainability agenda in the sector.
A New Dimension to Personal Finance Management:
The integration of Doconomy’s carbon footprint measurement tool into Citibank Hong Kong’s Wealth360 app provides users with an innovative way to understand and manage their environmental impact. Users can now measure their carbon emissions based on spending categories offered in partnership with Doconomy. They can track their carbon footprint compared to the Hong Kong average and receive personalized recommendations. Citibank is the first in the market to launch these functionalities with Interbank Account Data Sharing (IADS), enabling users to enjoy PFM functionalities and receive personalized insights from their selected bank accounts.
Key Features of the Carbon Footprint Measurement:
• Detailed Emissions Tracking: Users can monitor their carbon emissions according to various spending categories, gaining insights into how their lifestyle choices impact the environment.
• Comparative Analysis: The feature enables users to compare their carbon footprint against the Hong Kong average, fostering greater awareness and responsibility.
• Personalized Recommendations: Based on their spending patterns and carbon footprint, users receive tailored recommendations on how to reduce their environmental impact.
A Collaborative Effort:
The launch of this feature is part of Citibank Hong Kong’s broader initiative to enhance their PFM capabilities through the Wealth360 platform. Powered by Planto’s AI-driven Data Enrichment engine, Wealth360 offers a comprehensive suite of functionalities including cash flow tracking, transaction categorization, and personalized financial insights. The addition of Doconomy’s carbon footprint measurement tool further enriches this offering, making Wealth360 a pioneer in integrating environmental awareness with personal finance management.
“We are excited to partner with Citibank Hong Kong to bring our carbon footprint measurement tool to a wider audience," said Mathias Wikström, CEO at Doconomy. "This collaboration is a testament to our commitment to empowering individuals with the knowledge and tools needed to make more sustainable choices. By integrating our technology into Citibank’s Wealth360, alongside Planto’s advanced AI-driven Data Enrichment engine, we are helping users not only manage their finances but also contribute positively to the environment.”
"Interbank Account Data Sharing (IADS) in Hong Kong will be a transformative initiative that will allow banks to develop the next generation of personalized experiences, driving financial inclusion," said Ankit Suri, Co-founder & CEO of Planto. "With Wealth360, we are empowering Citi customers to better manage their finances and achieve their financial goals through hyper-personalized insights and recommendations. The addition of Doconomy's carbon footprint calculator further enhances the platform, enabling users to make more informed and sustainable choices."
“Mastercard is delighted to see Citibank’s increasing engagement in ESG initiatives,” said Helena Chen, Managing Director, Hong Kong & Macau, Mastercard. “From joining the Mastercard Priceless Planet Coalition to launching the Carbon Calculator, Citibank exemplifies the positive impact a financial institution can have. The collaboration will continue with a focus on driving sustainable growth and impactful change together.”