In 2022, The Fintech Times posed the question: ‘what sets a ‘fintech for good’ company apart from the rest?’. This year, we wanted to hear directly from global fintechs that align themselves with the ‘fintech for good’ ethos. Why do these companies perceive themselves as agents of positive change in the industry?
Today we hear from Eliza Arnold, founder of retirement savings platform Arnie.co, on its mission to empower users to make a positive impact through sustainable investments in their retirement planning, while providing financial education and resources for informed decision-making.
Tell us about Arnie.co
Arnie.co is a fintech company that provides a 401k platform for users to invest in sustainable and socially responsible funds. The platform simplifies the process of setting up and managing a retirement account while promoting investments in companies and funds that prioritise social and environmental impact. The company is committed to financial education and resources to help users make informed decisions about their investments and retirement planning.
Why do you think your company is a ‘fintech for good’?
Arnie.co is a fintech for good because it enables users to make a positive impact through their investments while saving for their retirement. The company’s platform provides easy access to sustainable investment options, empowering individuals to align their retirement savings with their values. Additionally, the company is committed to financial education and resources to help users make informed decisions about their investments and retirement planning.
How do you measure your impact?
As a new company, Arnie.co is still developing its impact measurement system. However, the company is aligned with the UN Sustainable Development Goals and working with a consultant to partner with other global organizations, such as the Global Reporting Initiative (GRI), to effectively measure impact as it expands.
What more can be done to make finance more ethical, transparent and accessible?
To make finance more ethical, transparent, and accessible, there needs to be greater regulatory oversight and transparency in the financial industry. This includes mandating companies to disclose their ESG practices and providing consumers with more information about the impact of their investments.
Financial institutions should prioritise education and financial literacy initiatives to empower individuals to make informed decisions about their finances. Governments can also incentivise companies that prioritize sustainability and social impact.
Furthermore, companies can promote ethical finance by prioritising ESG practices and promoting sustainable investment options. By working together, regulators, financial institutions, governments, and companies can promote greater transparency, accessibility, and ethics in the financial industry.
Image and article originally from thefintechtimes.com. Read the original article here.