apidays LIVE Helsinki & North: API Ecosystems - Connecting Physical and Digital March 16 & 17, 2022 Open banking APIs for sustainability: An open ecosystem approach Jannika Aalto, Open Sustainability Lead & Phuong Pham, Open Economy Industry Analyst at Platformable

1. platformable.com
Using Open
Banking and
Open Finance
APIs to Build
Green Fintech
Apidays Helsinki & North
March 16th 2022

2. Apidays Helsinki & North March 16, 2022
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How are green fintech leveraging open banking and open finance APIs?

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What drives sustainability solutions in Europe and the UK?
❏ Enforcing (e.g. The Paris Agreement and
nationally legislated net-zero targets)
❏ Enabling (e.g. EU’s digital strategy and the
Circular Economy Action Plan)
❏ 65% of global GDP digitised by end of 2022
❏ Stronger business case when coupled with
sustainability goals
❏ Open banking and open finance the most
mature open ecosystem > speed
❏ 93% of Europeans consider climate
change a serious problem
❏ 4 in 5 say businesses play an important
role in addressing climate change
❏ COVID-19 as a climate impact:
spillover infections from viruses
pushed into human populations as
environmental habitats destroyed
❏ Extreme weather events are increasing
Regulation and policy Consumers demand
Reality
Digitalisation and open
ecosystems
1 2
3 4

4. platformable.com
Apidays Helsinki & North March 16, 2022
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How is open banking and
open finance enabling green
fintech in Europe and the
UK?
● Core open banking API products
like PSD2-mandated payments
and account information can
assist green fintech to start
building new digital products
and services.
● Open banking platforms that
seek to support green fintech to
build innovative solutions are
going beyond mandated APIs.
● Account aggregation platforms
can also take on this facilitating
role Methodology: Platformable tracks all open banking platforms across Europe and UK. Focusing on those with a developer portal, we reviewed where banks described
how their API product offerings could be used for sustainable solutions, whether their API catalogues included any specific APIs that support sustainability, and
whether their API initiatives are seeking to build partnerships with green fintech.
DESCRIBING
USE CASES
European and UK bank and account aggregator platforms exploring
sustainability solutions
Q1 2022
BUILDING SPECIFIC
PRODUCT
SOLUTIONS
CREATING
PARTNERSHIP
OPPORTUNITIES

5. 2022 SERIES OF EVENT
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JULY
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SEPTEMBER
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APRIL
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MARCH
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DECEMBER
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London
OCTOBER
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Hong Kong
AUGUST
(VIRTUAL)
JUNE (VIRTUAL)
India
MAY
(VIRTUAL)
APRIL (VIRTUAL)
Dubai & Middle East
JUNE
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6. platformable.com
Apidays Helsinki & North March 16, 2022
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What else does green
fintech need to build their
innovative products and
services?
Non banking and finance API
providers
● Green APIs
● Energy industry APIs
● Government APIs: taxes,
urban planning
● Building and facilities
management APIs
● Transport, logistics, travel
and mobility APIs
● Communications APIs
Associations and collaborations
Incubators and accelerators
Greenly offers GHG footprint
calculations to over 250
companies in various sectors,
including banking, construction
and food and fashion industry. It
is used by account aggregator
Bridge API, allowing bank data to
show the carbon impact linked to
each transaction.
EcoVadis Sustainability Ratings
tool connects with Salesforce to
monitor and offer insights on the
sustainability performance of
suppliers in supply chains.
In a global partnership, banks
including NatWest (UK), CIBC
(Canada), Itaú Unibanco
(Brazil) and National Australia
Bank (Australia) hosted an
Open Finance Challenge to
support innovation in the global
banking and finance industry.
Several of the 2021 winners
were sustainability focused,
including the building energy
efficiency tool ValAi and
Banyan,, a loan and risk
management platform for
renewable energy projects.
Fintech associations such as
Copenhagen Fintech and
greentech associations like
Greentech Alliance are examples
of stakeholders in the wider
digital market.
These types of associations
foster cross-pollination amongst
members within their specialised
network and foster new
opportunities for API-enabled
product innovation and testing of
new business models.
Green APIs, energy
data APIs, and other
sustainability partners
allow product
innovation
Fintech and
Greentech
associations
could benefit from
closer collaboration
Incubators and
accelerators help
green fintech
go from idea
to product

7. platformable.com
Apidays Helsinki & North March 16, 2022
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What is the current reach of
green fintech in Europe and
the UK?
93 out of 1,133 API-enabled
fintech are green
UK is well ahead in product
availability
Spain, and Sweden lead in
European-based home-grown
green fintech offerings per
country
… But Switzerland, Finland, and
Sweden have greatest proportion
of all home-grown fintech with a
green offering

8. platformable.com
Apidays Helsinki & North March 16, 2022
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What does the green fintech
landscape look like?
● 8 categories based on the
sustainability product
category
● Most activity in
○ Green Digital Payment
and Account solutions
○ Green Digital
Investment solutions
○ Other category,
including a range of
energy, utility and
mobility solutions
Platformable's Green Fintech Taxonomy is built on Green Digital Fintech Alliance's categorisation of green fintech products.

9. platformable.com
Apidays Helsinki & North March 16, 2022
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● 6 categories for positive
environmental impacts
● Most green fintech products
focus on climate change
mitigation - need to think
more broadly
● Climate change mitigation:
need to target high-impact
industries
○ Energy use in industry
○ Transport
○ Energy use in buildings
○ Agriculture & land use
● Offsets: greater scrutiny
needed
What sustainability value is
being created?

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What impactful products could be built with APIs

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Full report available at:
platformable.com
Check out our trends report for more details

12. Contact us
platformable.com
https://linkedin.com/company/platformable/
Phuong Pham
Open Banking
phuong@platformable.com
LinkedIn
Jannika Aalto
Open Sustainability
jannika@platformable.com
LinkedIn

13. platformable.com
Mark Boyd
Founder
mark@platformable.com
Phuong Pham
Open Banking
phuong@platformable.com
Spencer Perkins
Writer/Analyst
spencer@platformable.com
Alexei Garban
Lead Developer
alexei@platformable.com
Rebeca Vittorazo
Lead Designer
rebeca@platformable.com
Adrienne Fanning
Data Governance Lead
adrienne@platformable.com
Catalina de Castro
Open Health and
Equity Analyst
catalina@platformable.com
Jannika Aalto
Open Sustainability
jannika@platformable.com
Kryštof Stupka
Data Privacy and
Technology Policy Analyst
krystof@platformable.com
Thanks to all our Team
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