Can a bank be fully net zero? Where can climate-conscious consumers turn for ethical, sustainable payment options?
At Money20/20 Europe in Amsterdam, Sophia Furber, a fintech research analyst at S&P Global, interviewed Richard Theodossiades, founder and CEO of Zero Fintech, during the panel session ‘Building a Net Zero Retail Bank.’
Zero Fintech, a neobank focused on climate change, officially launched in the UK in January 2025. Theodossiades shared alarming statistics on the rising global temperatures, highlighting that traditional UK banks remain heavily invested in fossil fuels. Since 2023, the top five UK banks—Barclays, HSBC, Santander, NatWest, and Lloyds—have contributed billions to fossil fuel production, with Barclays leading at $24.2 billion since 2023 and a staggering $235 billion since the Paris Agreement was signed.
He remarked, “When I speak with CEOs of these banks, they often say, ‘We want to pursue sustainability, but it’s going to take us 25 years.’ We can’t wait. The planet can’t wait. That’s the challenge we’re addressing.”
Theodossiades emphasized Zero Fintech’s mission to empower climate-conscious consumers with tools for eco-friendly banking. He noted that individuals under 34 are not just climate-conscious but “actively anxious,” actively seeking products and services that address their concerns and safeguard the planet.
To this end, Zero Fintech introduced GreenScore, a personal sustainability index ranging from 0 to 1000. This score is calculated by analyzing transactions from customers’ Zero accounts (which can also link to other accounts) to assess the carbon impact of those transactions. The aim is to provide users with a tangible measure of their carbon footprint while incentivizing them to adopt more sustainable behaviors.
Additionally, Zero will soon roll out Zero Carbon Projects, allowing users to invest in sustainable and carbon-offsetting initiatives directly within the app. With 10,000 registered customers and a low cost of acquisition, the demand for this product is clear.
According to Theodossiades, Zero Fintech offers a “bank-like experience without actually being a bank,” thanks to partnerships covering various banking processes, including transaction monitoring and open banking.
Having previously founded Wealthify, a digital wealth management platform focused on ESG investments, Theodossiades aims to expand Zero over time and eventually apply for a banking license to offer a broader range of products. The app is currently available for free download in the UK.
“Our vision for Zero is to integrate pensions and investment products, creating a community of millions of climate-conscious, ethical consumers and becoming the premier destination for top-tier climate-friendly offerings,” Theodossiades concluded.