Company
Date Published
Author
Delia Behr, Senior Content Marketing Manager
Word count
1034
Language
English
Hacker News points
None

Summary

The green fintech industry is rapidly growing as consumers increasingly demand sustainable financial products and services. The UN Environment Program has proposed a global digital ecosystem for greater collaboration between stakeholders regarding climate and biodiversity impacts. Green fintech products include carbon calculators, green loan products, sustainable investment and wealth management products, and enterprise dashboards that report on environmental social governance metrics of supply chains. Design thinking can speed up green product innovation by identifying customer needs and pain points, focusing on businesses, enterprises, and industry sectors rather than individual consumers. The three design-thinking steps to ideate products for sustainability are widening the target market, considering high-impact categories, and creating features with action in mind. Metrics such as enabling activities that raise awareness and contributing activities that directly improve environmental status can be used to measure product impact. App developers can apply their skills in monitoring and using data to design green fintech products, including hypothesis testing and A/B testing practices. By tracking user actions and their expected climate impact, businesses can start to have a holistic picture of the total positive climate impact generated by their app or service.