Icelandic challenger bank indó has partnered with Finnish technology provider Enfuce, which will deliver essential technology for payments, open banking, and sustainability services.
As the first app-based challenger bank in Iceland, indó is set to launch a smart money management application linked to a debit card. Once it secures its banking license, the bank plans to offer current accounts featuring a competitive introductory interest rate.
Enfuce’s comprehensive service will facilitate the integration of data-driven functionalities in the indó app, scheduled for release later in 2020. The core components of Enfuce’s offerings—Payments Services, Open Banking, and My Carbon Action—will enhance various aspects of the indó user experience.
Among the innovative features is Enfuce’s plug-and-play carbon footprint tracker, which will allow indó users to monitor their CO2 emissions based on their spending in categories such as food and transportation. This tool aims to provide actionable insights to promote more sustainable lifestyle choices.