May 30, 2024

Snowdrop and Ample Partner to Drive Sustainable Spending Through Digital Banking

London, United Kingdom – May 30th 2024 – Snowdrop Solutions, a leading provider of advanced transaction data enrichment solutions for banks and financial institutions, today announced a partnership with Ample Earth, an innovative sustainability solution provider helping payment networks and banks identify responsible businesses and create sustainable loyalty programs by highlighting the social and environmental impact of merchants. 

This collaboration positions both companies at the forefront of sustainable fintech, offering a climate solution that seamlessly integrates into digital banking applications.

Driving Sustainable Spending Habits Among Users

Through this partnership, Snowdrop Solutions and Ample Earth will:

Increase transparency on merchants: Consumers will gain clear insights into the sustainability practices of the businesses they support, fostering stronger brand affinity and loyalty.

Reward sustainable purchases: By recognising and rewarding conscious spending, the partnership aims to encourage positive behavioural changes that contribute to a better future.

Accelerate sustainability adoption: This partnership facilitates effortless integration of sustainability data across banking and payment channels, driving wider adoption.

Transaction detail showing merchant sustainability commitment
Merchant sustainability commitment and accreditations
More information about merchant sustainability commitment according to b corporation

People, often strapped for time, struggle to understand sustainability as the data is complex and nuanced, and it is time-consuming to verify “green” claims. As a result, they trust specialist third parties more than brands. In fact, 83% of people place significant trust in claims verified by a third party. Additionally, people crave practical sustainability insights that can make a real and meaningful difference. However, they currently can’t measure the impact and power of their spending.

Fueled by Snowdrop Solutions’ robust transaction enrichment API (MRS API™ ), this collaboration unlocks deeper insights for Snowdrop customers. By seamlessly tagging transactions with sustainability indicators, banks and financial institutions are empowered to educate their users about the eco-social friendliness of their purchases and the sustainability commitments of the merchants they patronise.

As a result, this enriched data provides banks and payment providers with granular insights into brands’ environmental and social performance so they can help customers make more sustainable choices and incentivise better purchasing decisions.

“Snowdrop’s MRS API perfectly complements our focus on user empowerment. Clear transaction data simplifies expense management and strengthens financial control. It empowers us to deliver the user-friendly experience our customers deserve, especially with corporate cards and travel spending. We’re excited to explore the potential of the API’s new features for even more personalised services.”

Raja Darbari, CEO & co-founder of Ample

Empowering a Sustainable Future

In today’s competitive landscape, sustainability is a crucial differentiator, enabling banks to retain customers and gain a competitive edge. According to the EPAM banking report, 30% of customers (rising to 37% for those aged 18-34) consider changing banks in the next 12 months. By equipping banks with insights and tools to promote mindful consumption, this collaboration empowers them to enhance customer retention and attract new ones. 

“Adapting to the needs of today’s digital banking generation, who place a high value on environmental responsibility and purpose-driven purchases, is crucial for banks to remain competitive,” said Kenneth Hart, CEO & Founder of Snowdrop Solutions. “This partnership seamlessly aligns with this mission. With our extensive experience and a proven track record. We empower banks with the crucial tools to provide transparency and reliable reward systems that resonate deeply with their eco-conscious customer base. That’s why companies continue to trust us to deliver exceptional products that achieve proven results.”

This partnership marks a significant leap forward in new finance by seamlessly integrating sustainability into digital banking. Snowdrop Solutions and Ample Earth have joined forces to deliver a powerful solution that benefits all stakeholders. By combining payment and sustainability data, banks can drive responsible consumption through tailored products, services, and rewards, nurturing a symbiotic relationship between finance and sustainability.

About Ample Earth

Ample is a pioneering Climate Fintech transforming the way people spend by combining sustainability data, payments, and loyalty. Empowering customers with actionable information to make sustainable purchasing decisions. Delivering insights into the environmental and social impact of brands to help banks and payment providers foster sustainable consumer behaviour and reward sustainable spending.