October 27, 2023
Advancing Sustainable Banking: ecolytiq's Behavioral Science Partnership with The Decision Lab

Sustainable finance should be more than just a buzzword - it should be an everyday reality for consumers around the world. That's why we're thrilled to announce an exciting new chapter in our journey towards making sustainable banking accessible to all.

Today, we're taking a leap forward by partnering with The Decision Lab, a global leader in applied behavioral science. This partnership will strengthen our offering to help consumers engage with sustainable banking.

Why this partnership matters

The banking landscape is changing rapidly.People are increasingly conscious of the environmental impact of their financial decisions. Consumers want to support eco-friendly businesses, make greener investments, and reduce their carbon footprint. But there's a gap between good intentions and meaningful action.

That's the vision driving ecolytiq. Our goal is to drive behavioral change towards conscious consumption through banking experiences.

That's where our partnership with The Decision Lab comes in: strengthening ecolytiq’s behavioral science-based design and more intimately understanding the psychology of consumer behavior.

Every consumer exhibits unique motivations and attitudes. To meet people where they are, our collaboration will segment users based on these differences, tailoring content and features to match their preferences.

A shared vision: Transforming sustainable banking

Our discussions with The Decision Lab laid out a clear framework to move sustainable banking from a choice to a natural part of financial decision-making.

This partnership is built on a shared vision: to create a future where sustainable banking is the norm, where every financial decision is an eco-conscious one. We want to make it easy for consumers to align their values with their financial choices, from everyday spending to long-term investments by enhancing engagement and reducing the intention-action gap.

Our core objectives

Our partnership with The Decision Lab has clear objectives:

1. Understanding User Attitudes and Motivation: The Decision Lab has conducted in-depth research to gain a profound understanding of user attitudes and motivation in our target audience. This research will be the foundation upon which we build our strategies.

2. Personalized and Targeted Messaging: Delivering personalized and targeted messaging to consumers using the ecolytiq platform is essential. The Decision Lab will provide valuable insights to enhance our communication, making it more engaging and  impactful.

3. Validation of Interventions: Together, we will design and execute interventions that aim to validate their efficacy. This not only positions ecolytiq as a leader in sustainable finance but opens doors for valuable partnerships with other industry players.

The future

The journey has just begun. We're starting with preliminary research, followed by user-specific research, and real-world testing. Our goal is to uncover actionable insights that can drive our platform’s evolution, making sustainable banking more engaging and impactful.

“We are delighted to take the ecolytiq platform and the insights we offer customers to another level by collaborating with The Decision Lab," said Henriette Freye, Team Lead Product Management at ecolytiq. "This partnership reinforces our commitment to help consumers globally make more sustainable purchasing decisions in their everyday lives backed by behavioral science, delivered through their banks and financial institutions.”

Hector Alvarado, Director at The Decision Lab added: "Partnering with a company like ecolytiq was a no-brainer – we both center our missions on supporting socially conscious decision-making. It’s been a pleasure kicking off our shared vision of sustainable banking practices and we look forward to what we can collectively achieve in this space.”

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