C6 Bank has grown at unprecedented speed in just four years, serving more than 25m customers in its home region of Brazil.
In addition, C6 Bank has a strategic ambition to deliver the leading digital banking experience in the Latam region. C6 selected Vault Core and adopted an agile, flexible platform suitable for developing a specific service to measure a client’s carbon footprint.
One of C6 Bank’s strategic aims is to launch products in the market that truly redefine digital banking in the region, including ESG-centric products that positively impact the environment.
The bank built a carbon footprint tool, which is now live on Vault Core: the first product of its kind in Brazil. Additionally, C6 Bank purchases credits generated by socio-environmental projects in the Amazon rainforest and is part of the Movimento Ambição Net Zero, a UN Global Compact initiative in Brazil.
The carbon footprint tool, now live on Vault Core, was built and launched entirely by C6 Bank. Currently, Vault Core shadows a ledger running in the bank, collecting transaction history and passing it to a specialised CO2 calculation engine. The CO2 calculation engine provides the data for C6 Bank customers to observe and offset their CO2 emissions for purchases such as card or Pix transactions.
Clients can also offset their carbon footprint if they want to do so. C6 Bank makes no profit from these transactions and charges no fees. The focus of the tool is consumer awareness, more than offsetting carbon emissions, as the bank wanted to encourage customers to become aware of emissions and adopt measures to reduce their footprint. The product is being used successfully by significant volumes of end-user customers. As of July 2023, more than 2000 tonnes (2 million kilograms) of CO2 were offset using the tool.
