ecolytiq : Providing one-stop solution for sustainable banking

 In Candid Conversation with TBF , Ulrich Pietsch is the Founder of ecolytiq have shared some insightful views and highlighted the influences made by their company to be the most recommended fintech solution provider.

Q. Brief us about the Company journey of rich experience – origin, inception, early issues, success stories, and major milestones, to name a few.

ecolytiq was founded in March 2020 – when the world was shaken by the emergence of the Covid-19 pandemic. Where others saw despair and gloom, the ecolytiq founders – David Lais and Ulrich Pietsch – saw hope. David and Ulrich founded ecolytiq in the deep belief that, notwithstanding the pandemic, climate change is an issue far too important to be ignored any longer. ecolytiq was founded on the principle that every bank transaction has an impact. Millions of consumers (= bank account owners) deserve transparency on their personal influence on the environment and guidance on what they can do every day to fight climate change. ecolytiq’s first major milestone was developing a software based on the Open Payment Standard by NGO ‘Organization for Sustainable Consumption’. More months of hard work flowed into the further development of both the product and the growth of the team from 4 dedicated employees to over 40 impact-driven people. In November last year, ecolytiq joined the Visa Fintech Partner Connect Programme, opening up new business opportunities all over the globe.

Q. Brief us about the CEO/Founder of the Company.

Throughout his life, Ulrich Pietsch has been fascinated by technology and started programming computers when he was only 10 years old.

Later on, he stuck to his childhood passion for technology, and has founded multiple companies that enable new, disruptive business models through software and digitalization.

Thinking about his next step and purpose in life, a triggering moment came about when watching a movie with his two sons about the future of the planet, explaining what would happen if humanity failed to solve the climate crisis. His sons started crying, and Ulrich decided to act and apply his knowledge in technology for the purpose of sustainability. He is convinced that technology is the game changer to tackle climate change on a broader basis.



Q. Kindly talk about the exclusive products or services offered by the Company, How does it distinguish you from your competitors?

ecolytiq offers three core products: ecoAware (where bank customers see their environmental footprint, e.g. CO2) for each bank transaction through their online banking), ecoEngage (bank customers learn what they can do right now to lower their carbon footprint and, through feedback loops, how their sustainability score is performing over time), and ecoAction (how people can offset their footprint by donating to certified sustainable organizations, plus the option to invest money into ESG funds). These three products are unique, because they incorporate the core ideas of sustainability: education and action. Sustainability-conscious consumers will be more inclined to consider ESG funds, which makes sustainability a strong business case for banks

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