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Empowering 8 million customers to measure and reduce their carbon footprint

The NatWest Group is a leading bank in the UK, serving over 19 million individuals and businesses. NatWest recognises its role in supporting the transition to a low-carbon society. The team has set ambitious targets to reduce its environmental impact, pledged £100bn of sustainable finance and has partnered with Cogo to empower its customers to take climate action.

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The challenge

Our research revealed that 62% of customers want their bank to help them reduce their carbon footprint.

"We know that many people in the UK want to reduce their impact on the climate, but to be able to change something in a meaningful way, they need to be able to measure it.” - David Lindberg, CEO, Retail Banking at NatWest.

As banks possess customers’ personal financial data, they are well-positioned to provide real-time carbon footprints based on people’s spending.

That’s why NatWest partnered with Cogo; to empower its 8 million retail customers to measure and reduce their carbon footprint.

David Lindberg said, “Our use of Cogo’s expertise in carbon tracking in the NatWest app is a really important first step in making it easy for everyone to live and spend in a greener way – using the power of their money to influence change.”

For NatWest, simply measuring their customers’ carbon footprints was not enough, they wanted to help their customers take measurable action to reduce their emissions. So we collaborated with their team to build a user experience within Natwest's banking app, focused on behaviour change to drive impact.

02.

The Cogo solution

Cogo enabled NatWest to be the first bank in the world to build carbon tracking directly into its mobile banking experience.

Helping customers reduce carbon emissions

Cogo uses robust market-specific data to deliver individual transaction-based carbon footprints to NatWest users. As well as increasing customers' carbon literacy, Cogo’s Personal Carbon Manager employs behavioural science techniques, such as behavioural nudges, cues, feedback and rewards to engage customers and reduce emissions.

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03.

Key results

i.

Developed the world's first carbon tracker fully integrated into a banking app

ii.

Attracted over 300,000 users in the first 9 months (and this number keeps growing)

iii.

Shortlisted for several industry awards:

→ Global Open Finance Award 2021
→ UK Fintech Awards 2022
→ National Technology Awards 2022
→ FSTech Awards 2022
→ Paytech Awards

iv.

Cogo and NatWest featured in 73 articles in media publications with a combined reach of nearly 40 million

Discover how Cogo can help your bank achieve these results.
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04.

Hear from our other partners

We are privileged to be working with some of the world's leading banks, helping them with solutions to transition their customers to a low carbon economy.

NatWest

“The newest addition to our personal banking apps came to life this week, with the launch of a carbon footprint tracking feature we’ve developed with Cogo. It will help empower our customers to understand their carbon impact in a straightforward and clear way, and make those small, positive changes to their lifestyle that, collectively, could have a real impact.”

Alison Rose
,
Former Group CEO
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