Sustainable FinTech platform Algbra, www.algbra.com, has set out to revolutionise how communities spend and save their money. Far more than a typical financial institution, Algbra’s movement has been created to empower individuals to reflect and act on their values through their finances, such as by donating and investing in their local communities, tracking and offsetting their environmental impact and banking according to their values.
Moving beyond just a digital-only focus of traditional FinTechs, Algbra has launched a national roadshow that begins this week, which is set to visit 25 cities around the UK to engage with the communities that are at the heart of Algbra’s ambitions. The exclusive events will host a luxury tea-tasting experience in partnership with sustainable tea emporium London Tea Exchange, whose values align with Algbra’s aims to bring only the best quality and most sustainable experience to its customers. Guests in attendance will include local VIPs and MPs.
Recent research by Algbra, including more than 4,000 adults in the UK, has revealed that 34% of people in Wales feel it would be important for them to track their carbon footprint from purchases, whilst 55% would like to fund small amounts to initiatives to help offset it.
75% of people in Wales said they would like to bank in a way that helps them make more ethical spending decisions, and considering that only 4% agreed that it was easy to find out if their bank was investing their money in industries they do not agree with (e.g. fossil fuels), it is clear to see why more transparency is desired.
Users of the Algbra app can open an account within minutes, track their carbon footprint with every purchase, donate to causes that matter to them, contribute to their local communities and save and manage their money ethically. Algbra vows to put values before profits and, unlike mainstream banks, never holds money in unethical industries or high-risk ways.
The world-class team behind the app are from the very communities they seek to serve, combining their lived experiences with their global expertise, and the company already supports numerous projects UK-wide, which is set to multiply in the coming months. The FinTech is also using the roadshow to uncover more community projects they could partner with. The initiatives that Algbra currently supports can be found here: www.algbra.com/community.
Zeiad Idris, CEO and Co-Founder of Algbra, said the following about the roadshow and the recent survey:
“People’s money is their vote. How they spend, keep and invest their money should be based on the things they care about most. That’s our focus at Algbra. We want to connect values and finance and give people greater choice and freedom with their money. We want to give our customers the tools to manage their money in a way that can make a positive social and environmental impact, ultimately uplifting communities.
“And our research tells us that consumers are increasingly speaking with their feet. They don’t just want this, but they are demanding it. It’s why we have embarked on this roadshow across the UK, to continue listening to our future consumers, and continuing to respond to their needs with the products that we bring to market. We’ve chosen Cardiff as one of the first cities we visit, because the research we have conducted proves, categorically, that those residing here increasingly care about ethical spending and saving and are even willing to change their behaviour to do something about it. This is music to our ears.”
