●  Moneyhub has partnered with leading carbon analysis companies to launch the new ‘Carbon Counter’ API recipe

●  The new ‘Carbon Counter’ API Recipe from Moneyhub will allow businesses to provide customers with an environmental overview of their finances and the insight to make more informed decisions

●  It can easily be plugged into existing systems and solutions

&nbsp;

<a href="https://www.innovatefinance.com/company/moneyhub/">Moneyhub</a>, the market-leading data and payments platform, has partnered with leading carbon measurement companies to launch its latest API ‘Recipe’, Carbon Counter, empowering businesses to deliver real-life insights to their customers into the environmental impact of their financial behaviours. The Recipe combines Moneyhub’s Open Banking and Open Finance API connections to ensure plugging into existing systems and solutions is quick, easy and cost-effective.

Using Moneyhub’s Carbon Counter API Recipe, businesses are able to provide customers with the carbon footprint for their transactions, giving them an instant overview of the environmental impact of their finances, along with personalised insight and guidance on how they can improve their carbon footprint and make more informed choices. By collaborating with market-leading companies such as Connect Earth and Cogo, Moneyhub is able to ensure the highest quality and accuracy in environmental impact data.

UK consumers are becoming increasingly more environmentally conscious. The ONS found that more than eight in ten (86.5%) adults in Great Britain have already made at least some changes to their lifestyle to help tackle environmental issues. This new tool will enable businesses to meet this customer need, better supporting them as they look to reduce their carbon emissions and footprint.

Kim Jenkins, MD of API at Moneyhub, comments: “We’re all becoming increasingly aware of our obligation to protect and minimise our impact on the environment, and it’s clear that this is a growing priority amongst consumers. Businesses are in a unique position where they could change behaviours across the UK and, in doing so, grow loyalty amongst their customer base.

However, accessing this data and applying the intelligence can be challenging, many of whom will be contending with legacy systems. And once the data is accessed it also needs to be analysed by a credible partner to enable these actionable insights. Using Open Banking and Carbon Analysis, businesses can easily access the connections and provide insights to customers to help influence their buying decisions and live more sustainably. We hope that our API Recipe better enables businesses to meet this customer demand, and help them to better understand the impact of their buying decisions and make improvements to the benefit of us all!”

For more information on Moneyhub’s Carbon Counter API Recipe and the other API Recipes currently offered, <a href="https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fwww.moneyhub.com%2Fapis%2Frecipes%2Fcarbon-counter/1/0102018fc85f6a90-ebecf8a8-051a-40e1-9ce8-60a0a49158c2-000000/hl45ylfzqQtW55tv3xBs-rC36d4=376" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%252F%252Fwww.moneyhub.com%252Fapis%252Frecipes%252Fcarbon-counter/1/0102018fc85f6a90-ebecf8a8-051a-40e1-9ce8-60a0a49158c2-000000/hl45ylfzqQtW55tv3xBs-rC36d4%3D376&amp;source=gmail&amp;ust=1717149603218000&amp;usg=AOvVaw2-lw5XDHTfvx3NclAsb2Pe">please see here</a>, or to find out more details on our partners <a href="https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fconnect.earth%2F/1/0102018fc85f6a90-ebecf8a8-051a-40e1-9ce8-60a0a49158c2-000000/OaKxY5b67_34CYd-xArD0LITVTE=376" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%252F%252Fconnect.earth%252F/1/0102018fc85f6a90-ebecf8a8-051a-40e1-9ce8-60a0a49158c2-000000/OaKxY5b67_34CYd-xArD0LITVTE%3D376&amp;source=gmail&amp;ust=1717149603218000&amp;usg=AOvVaw1VfTPteiOCj0ftyr7DAk-2">Connect Earth</a> and <a href="https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fwww.cogo.co%2F/1/0102018fc85f6a90-ebecf8a8-051a-40e1-9ce8-60a0a49158c2-000000/deSUWnJbLflZbCQ-nP5ccFooRGQ=376" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%252F%252Fwww.cogo.co%252F/1/0102018fc85f6a90-ebecf8a8-051a-40e1-9ce8-60a0a49158c2-000000/deSUWnJbLflZbCQ-nP5ccFooRGQ%3D376&amp;source=gmail&amp;ust=1717149603218000&amp;usg=AOvVaw04fj_zW98Y4HR0OsnTguk6">Cogo</a>.

<a href="https://www.ons.gov.uk/peoplepopulationandcommunity/wellbeing/articles/mostadultsreportmakingsomechangestotheirlifestyleforenvironmentalreasons/2023-07-05#:~:text=More%20than%20eight%20in%20ten,between%20May%20and%20June%202023.">ONS findings link</a>

&nbsp;
-Ends-
&nbsp;

Notes to editors

Contacts:

Emily Penner
Marketing Director,  Moneyhub
<a href="mailto:emily.penner@moneyhub.com" target="_blank" rel="noopener">emily.penner@moneyhub.com</a>
M: +44 7393 758 446

 Eleanor Ross
Senior Account Director, Teamspirit (Moneyhub PR Agency)
<a href="mailto:ERoss@teamspirit.uk.com" target="_blank" rel="noopener">ERoss@teamspirit.uk.com</a>

&nbsp;

Research Methodology

Research conducted by Opinium Research on behalf of Moneyhub amongst 2,000 UK consumers (nationally representative sample). To provide further insight for the whitepaper, Lansons Team Farner interviewed 16 senior building society stakeholders in February and March 2024. Interviewees were drawn from a mix of large and medium-sized building societies, as well as the Building Societies Association and Open Banking Limited.

&nbsp;

About Moneyhub

Moneyhub is a data, intelligence, and payments company which develops ISO 27001 certified software for Open Banking, Open Finance, and Open Data applications. Its FCA-regulated Open Data platform enables companies to quickly and easily transform data into personalised digital experiences and initiate payments. Its APIs and fully customisable platform provide data aggregation, insights, notification nudges, and payment systems. As a result, clients have the consent-driven data and analytics they need to create super-personalised offers, products, and services. Hundreds of organisations, spanning finance to media and retail, rely on Moneyhub’s award-winning technology.

For more information, please visit <a href="https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fwww.moneyhub.com/1/0102018fc85f6a90-ebecf8a8-051a-40e1-9ce8-60a0a49158c2-000000/U7pzir3OJPnOnrfd3VyEfNheqsg=376" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%252F%252Fwww.moneyhub.com/1/0102018fc85f6a90-ebecf8a8-051a-40e1-9ce8-60a0a49158c2-000000/U7pzir3OJPnOnrfd3VyEfNheqsg%3D376&amp;source=gmail&amp;ust=1717149603218000&amp;usg=AOvVaw1cbzJc95OQn36V3Mnr4Xax">www.moneyhub.com</a>.

Moneyhub launches new Carbon Counter API ‘Recipe’, unlocking the ability to give customers an overview of the carbon footprint of their financial transactions

<ul>
 	<li>Customers ranked supermarkets and Building Societies as the most likely to put their customers’ interests first</li>
 	<li>Energy providers, social media and insurers ranked the lowest in Moneyhub’s research</li>
 	<li>The FCA calls for Building Societies to embrace Open Finance or risk struggling to attract the next generation of customers</li>
</ul>
Building Societies are failing to convert high customer satisfaction rates into expanding their customer base, and risk losing market share within the younger demographic to challenger and neobanks with superior digital offerings, according to a new report from Moneyhub. Younger generations show a marked preference for Open Banking and Open Finance enabled interactions and to secure a future, Building Societies must align their offerings with these digital expectations.

The report, “<a href="https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fwww.moneyhub.com%2Fbuilding-societies-open-finance-whitepaper%3Futm_source=press%2Brelease%26utm_medium=paid%2Bmedia%26utm_campaign=2025-pft-gen-con-wp-lansons_bsoc_report%26utm_term=null%26utm_content=ob_editorial%26sfcid=701Sk000007aGa9IAE%26sfcms=Downloaded/1/0102018f9f1a2fe9-9f0166b1-92f7-4c80-b4a6-b6c70b3412c0-000000/3ghEHPR5hQNiHmn4TX5q0tE0V0M=375" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%252F%252Fwww.moneyhub.com%252Fbuilding-societies-open-finance-whitepaper%253Futm_source%3Dpress%252Brelease%2526utm_medium%3Dpaid%252Bmedia%2526utm_campaign%3D2025-pft-gen-con-wp-lansons_bsoc_report%2526utm_term%3Dnull%2526utm_content%3Dob_editorial%2526sfcid%3D701Sk000007aGa9IAE%2526sfcms%3DDownloaded/1/0102018f9f1a2fe9-9f0166b1-92f7-4c80-b4a6-b6c70b3412c0-000000/3ghEHPR5hQNiHmn4TX5q0tE0V0M%3D375&amp;source=gmail&amp;ust=1716986324233000&amp;usg=AOvVaw0R4VB3cp9bHhyZ2VFL2PBY">Digitise or die”: a call to arms for building societies</a>’, delves into how Building Societies can navigate the critical juncture they find themselves in: being at the forefront of the digitisation of financial services while retaining their reputation for being customer-centric and community-focussed.

Building Societies’ reputation for customer centricity is reflected in the data. When respondents were polled on which customer-facing businesses were most likely to act with their customers’ interests at heart, it found that energy providers, social media firms and insurers were ranked lowest, scoring  20%, 22% and 22% respectively. Building Societies and Supermarkets were at the top of the list at 41% each.

However, despite the public perception that they are the most likely to look out for their customers’ best interests, Building Societies possess just a third (32%) of market share and are struggling to attract the younger generation of savers. The market share drops to just 24% amongst 18-34 year olds. Although the figure is less stark, this problem is not limited to Building Societies. High street banks see their market share dip from 52% of the UK overall, to 49% for 18-34 year olds. Instead, younger generations are increasingly more likely to turn to the challenger and neobanks for their financial products - this group holds over a quarter of market share amongst 18-34 year olds compared to 16% overall. Specialist sustainability banks also have increased in popularity amongst the younger generations having 8% market share amongst this group compared to 6% of the UK overall.

In addition the data found that 68% of 18-34 year olds favoured using a digital app to manage their money and that it could help them save more, compared to 48% of the overall population, and 66% want access to financial products and services without the need to visit a physical branch- demonstrating the need for Building Societies to digitally evolve to meet the needs of future generations.

When investigating what drives customers to choose financial products, the research found that the provision of a good online platform and an easy application process were both considered important by 80% of respondents, while an easy to use digital app came in at 67%. Brand recognition is still one of the key influences, with 68% saying it was important to them.

When asked why they weren’t prepared to switch to a Building Society, 19% of respondents said they didn’t know enough about Building Societies to choose one and 12% say they haven’t seen them advertised.

Mark Horwood-James, MD of Personal Finance Technology at Moneyhub comments: “It’s clear that Building Societies have a strong group of core customers, and have developed a well deserved reputation for acting with the customer’s interests at heart. As well regarded financial institutions, they are currently selling short their best attributes and failing to appeal to younger demographics by failing to evolve their digital offerings.

“Part of the solution to this problem is embracing the digital capabilities at their disposal and showing that their product offerings can match the neo and challenger banks with their services. The FCA recently said that the Building Society sector must embrace technology and continue to evolve without losing their community-centred credentials*.

“In addition, speaking at the Building Societies Annual Conference, chief executive of the Building Societies Association (BSA), Robin Fieth, unveiled his ambition to double the membership of UK Building Societies over the next decade. At Moneyhub, we believe that this ambition is possible if there is an effort to adopt Open Finance across Building Societies.”
<a href="https://www.moneyhub.com/building-societies-open-finance-whitepaper?utm_source=press+release&amp;utm_medium=paid+media&amp;utm_campaign=2025-pft-gen-con-wp-lansons_bsoc_report&amp;utm_term=null&amp;utm_content=ob_editorial&amp;sfcid=701Sk000007aGa9IAE&amp;sfcms=Downloaded">Read the full report here</a>
&nbsp;
-Ends-
Notes to editors

*Source:<a href="https://www.fca.org.uk/news/speeches/building-our-societies-through-lending-and-savings"> Building our societies through lending and savings</a>, Speech by Emily Shepperd, FCA Chief Operating Officer delivered at the Building Societies Annual Conference, 09/05/2024, “By leveraging innovations such as Open Finance, AI, and digitalisation, building societies can streamline operations, boost resilience, and enhance the customer experience.” 

&nbsp;

Contacts:

Ingrid Anusic   
Marketing Director,  Moneyhub
<a href="mailto:ingrid.anusic@moneyhub.com" target="_blank" rel="noopener">ingrid.anusic@moneyhub.com</a><a href="mailto:ERoss@teamspirit.uk.com" target="_blank" rel="noopener">
</a>M: +44 783 722 6553

Eleanor Ross
Senior Account Director, Teamspirit (Moneyhub PR Agency)
<a href="mailto:ERoss@teamspirit.uk.com" target="_blank" rel="noopener">ERoss@teamspirit.uk.com</a>
M: +44 7393 758 446

Research Methodology

Research conducted by Opinium Research on behalf of Moneyhub amongst 2,000 UK consumers (nationally representative sample). To provide further insight for the whitepaper, Lansons Team Farner interviewed 16 senior Building society stakeholders in February and March 2024. Interviewees were drawn from a mix of large and medium-sized Building Societies, as well as the Building Societies Association and Open Banking Limited.

&nbsp;

About Moneyhub

Moneyhub’s goal is simple; to work with our clients to improve the financial wellness of people, their businesses, and their communities. Hundreds of companies use our award-winning Open Banking and Open Finance technology to better understand their customers through data so they can comply with Consumer Duty, deliver them more suitable products, and automate money management or payments to ultimately increase their capacity to spend, save or invest more.

For more information, please visit <a href="https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%2F%2Fwww.moneyhub.com/1/0102018f9f1a2fe9-9f0166b1-92f7-4c80-b4a6-b6c70b3412c0-000000/EYHvBMxrsxX34wCr2Z8MMJM9qrk=375" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://74n5c4m7.r.eu-west-1.awstrack.me/L0/https:%252F%252Fwww.moneyhub.com/1/0102018f9f1a2fe9-9f0166b1-92f7-4c80-b4a6-b6c70b3412c0-000000/EYHvBMxrsxX34wCr2Z8MMJM9qrk%3D375&amp;source=gmail&amp;ust=1716986324233000&amp;usg=AOvVaw1cnMTkmmeetQtcFMFAocEo">www.moneyhub.com</a>

Building Societies rank highest for customer satisfaction but are failing to convert customers as neobanks grow market share

<ul class="p-rich_text_list p-rich_text_list__bullet" data-stringify-type="unordered-list" data-indent="0" data-border="0">
 	<li data-stringify-indent="0" data-stringify-border="0">The new Fact-finder API Recipe from Moneyhub unlocks the potential of Open Finance to provide better customer outcomes</li>
 	<li data-stringify-indent="0" data-stringify-border="0">It can easily be plugged into businesses' existing systems and solutions</li>
 	<li data-stringify-indent="0" data-stringify-border="0">Increased efficiency, lower onboarding costs and in-depth, holistic snapshots of customers’ finances upfront can significantly improve the delivery of purposeful customer experiences</li>
</ul>
&nbsp;

<a style="color: #4bbb87;" href="https://www.innovatefinance.com/company/moneyhub/">Moneyhub</a> has launched its latest API ‘Recipe’, Fact-finder, unlocking the potential of Open Finance and empowering businesses to deliver more purposeful services and solutions to their customers. The Recipe combines Moneyhub’s Open Banking and Open Finance API connections to ensure plugging into existing systems and solutions is easy.

Using Moneyhub’s Fact-finder API Recipe, businesses can move beyond the time-consuming manual fact-finding process when onboarding new customers and clients and benefit from the immediacy and accuracy of real-time data available through Open Finance. Access to a holistic and real-time view of customer finances can result in more personalised and wide-reaching impactful services and solutions.

While this solution can be utilised by businesses no matter the size or sector, it is especially useful for those in sectors such as financial advice and wealth management, where the onboarding process can be particularly onerous, and the benefits of a more hyper-personalised service can obviously support.
Indeed, the Fact-finder API Recipe offers businesses deeper and richer customer insights, including connections to investments, pensions, properties, and mortgages. As a result, customers can gain access to relevant and timely products suited to their individual requirements.

Through the Moneyhub Fact-finder recipe and its AI-driven nudge technology, businesses can provide their customers with personalised insights to help them understand their evolving financial situation and options, and vice versa. For example, nudges can immediately notify Financial Advisers of pertinent information and changes to their customers' circumstances to ensure advice remains appropriate.

Kim Jenkins, MD of API at Moneyhub, comments:
<blockquote>“We know that the fact-finding, onboarding and ongoing reviews can be hugely onerous and time-consuming for businesses and their customers. With Open Finance, this process can be automated and improved so businesses benefit from access to holistic and accurate real-time data at the point of onboarding and throughout the relationship with the customer. We hope this will help improve efficiencies and facilitate more purposeful and useful digital experiences for customers.”</blockquote>
For more information on Moneyhub’s Fact-finder API Recipe and the other API Recipes currently offered, please see <a style="color: #4bbb87;" href="https://www.moneyhub.com/apis/recipes/fact-finder">here.</a>


&nbsp;
-Ends-

Moneyhub launches Fact-finder API ‘Recipe’ to unlock the potential of Open Finance

Moneyhub is a global ISO 27001 certified software developer of Open Banking, Open Finance, and Open Data applications. Its FCA regulated Open Data platform enables companies to quickly and easily transform data into personalised digital experiences and initiate payments. Its APIs and fully customisable platform provide data aggregation, insights, notification nudges, and payment systems. As a result, clients have the consent-driven data they need to create super-personalised offers, products, and services. Hundreds of organisations, spanning finance to media and retail, rely on Moneyhub’s award-winning technology. For more details, please visit <a class="c-link" tabindex="-1" href="http://www.moneyhub.com/" target="_blank" rel="noopener noreferrer" data-stringify-link="http://www.moneyhub.com" data-sk="tooltip_parent" data-remove-tab-index="true">www.moneyhub.com</a>

Moneyhub

Moneyhub is a global ISO 27001 certified software developer of Open Banking, Open Finance, and Open Data applications. Its FCA regulated Open Data platform enables companies to quickly and easily transform data into personalised digital experiences and initiate payments. Its APIs and fully customisable platform provide data aggregation, insights, notification nudges, and payment systems. As a result, clients have the consent-driven data they need to create super-personalised offers, products, and services. Hundreds of organisations, spanning finance to media and retail, rely on Moneyhub’s award-winning technology. For more details, please visit <a class="c-link" tabindex="-1" href="http://www.moneyhub.com/" target="_blank" rel="noopener noreferrer" data-stringify-link="http://www.moneyhub.com" data-sk="tooltip_parent" data-remove-tab-index="true">www.moneyhub.com</a>

CCO, Moneyhub

Dan is Chief Commercial Officer at Moneyhub, the award-winning Open Banking, Open Finance, and Open Data platform that transforms data into personalised digital experiences and initiates payments.
Dan inspires the product, sales, and marketing teams to deliver tangible results by embedding our data aggregation, analytics and payments technologies into our clients businesses to enrich decisions that deliver better outcomes.
He is a true champion of innovative technology and made the very first Open Banking payment in the UK.
Dan has overseen countless propositions serving some of the world's largest telcos. He helped steer Talgentra from start-up to scale-up and drove the fintech’s integration post-acquisition with Experian. For a decade Dan delivered innovative fintech solutions with Experian where he managed a business line strategy growing annual revenues of $120 million. Outside of work, Dan can be found enjoying the Bristol food scene.

Moneyhub

Moneyhub

Team Members

Dan Scholey

Insights

Moneyhub launches new Carbon Counter API ‘Recipe’, unlocking the ability to give customers an overview of the carbon footprint of their financial transactions

Building Societies rank highest for customer satisfaction but are failing to convert customers as neobanks grow market share

Moneyhub launches Fact-finder API ‘Recipe’ to unlock the potential of Open Finance