Banx, a fully digital, Belgian banking experience, imagined by Proximus, powered by Belfius, is being officially launched. Banx raises the bar for digital banking and allows users to monitor the impact of their purchases on the planet. The new banking app aims to encourage users to make more conscious and sustainable choices.
Moreover, Banx is a Belgian initiative with a strong local anchorage. Today, for example, a dozen local partners can already be discovered in the app, with the aim of bringing together environmentally conscious consumers and local partners to make sustainable banking accessible to all.
Digital banking to the rhythm of the planet
Banx wants to raise the bar for digital banking. The banking app will primarily respond to questions of critical consumers in today’s digital world, bringing a banking experience that is fast, efficient and reliable.
“The digital evolution changes our way of life: everything is immediately available, ordered today, delivered tomorrow. Banx wants to challenge this. 100% digital by nature, Banx fits perfectly within Proximus’ #inspire2022 strategy, to make innovative solutions and digital experiences easily accessible to every Belgian consumer,” said, Tom Discart, Banx lead at Proximus.
However, Banx goes further: it puts sustainable banking first and encourages everyone to join forces. Although everyone realizes that our purchasing behavior has a major impact on the environment, it is not easy for consumers to gain a complete picture of that impact. Banx wants to give users insight into their buying behavior, to encourage them to buy more consciously.
“Sustainability is at the heart of Banx,” adds Tom Discart. “Banx helps people consciously think about the impact of their buying habits. In doing so, Banx is creating a new movement: “slow banking”. Through this, we not only hope that sustainable banking will gain momentum, but we also want to inspire others.”
A future-proof user experience
Banx combines high-tech and sustainable components throughout the entire user experience: from minimalist bank cards made from recycled plastic to becoming a customer with your eID in less than 5 minutes. Customers can choose from 2 formulas:
The Essential-account is a free ‘freemium’ model with 1 account number and 1 contactless debit card. As an additional option, users benefit from 1 Mastercard debit card for 1 EUR per month.
For those who want something more, there is the Premium-plan for 6.5 euro per month. Users can then benefit from 2 individual accounts and 1 joint account, up to 4 contactless debit cards and up to 4 contactless Mastercard debit cards with purchase protection and 1 year warranty extension.
Banx also wants to be there for everyone who cares about nature and the climate. Studies show that many people are aware of climate change, but do not always know how to contribute themselves. Banx wants to help them and together we want to strive for a more sustainable society.
Therefore, Banx is launching an investment offer that contributes to a transition to a sustainable society, consisting of four funds starting at 25 EUR per month. This focus on sustainability features throughout the entire offering. Banx offers each new customer (thanks to partners Natuurpunt and Natagora) the choice to plant a tree or to support a sustainable project. Loyal customers are rewarded with points every time they use the app, which can then be exchanged for attractive discounts at one of the ecological partners. Users can also use their loyalty points to support a sustainable project. Finally, Banx is also the first banking app in Belgium with an in-app CO₂ dashboard, which shows users the impact of their purchasing behavior on the planet.
“We have an attractive offer, you become a customer in 5 minutes and you can receive money and make transfers straight away. But Banx goes one step further. Receiving your cards is a real unboxing experience, you are rewarded for your transactions and choices and you can use that reward within our network of eco-partners. In addition, the app looks great because of the fresh innovative way of communicating. And unlike other 100% mobile banks, we guarantee a recognizable human touch when you need it thanks to our local customer support team,” commented, Izzy Van Aelst, Banx lead at Belfius.
Doconomy’s CO₂ dashboard as a differentiator
For the development of this CO₂ dashboard, Proximus was the first telecom company in the world to enter into a partnership with the Swedish company Doconomy. Thanks to this dashboard, Banx customers can see their ecological footprint (expressed in kilograms of CO₂) in the app. The underlying calculations are based on the Åland Index, a mechanism that calculates how much CO₂ is associated with each expense.
Doconomy aims to make life on earth future-proof by empowering individuals and companies to take responsibility for their environmental footprint. With their CO₂ dashboard, Doconomy processes 90 million impact calculations per month in over 20 markets. Doconomy is also a partner of, among others, the United Nations Framework Convention on Climate Change (UNFCCC), Mastercard, S&P Trucost and the WWF.
“The collaboration between Doconomy and Proximus is a great example of how disruptive companies can work together to push the boundaries by thinking innovatively. Research shows that people can reduce their personal carbon footprint by up to 50% by making choices that are less harmful to our planet. The dashboard uses the Åland Index, a global standard used to measure climate impact. Through the dashboard users will get a better understanding of their purchases and gain insight into how sustainable their buying habits really are,” said, Matthias Wikström, CEO Doconomy.
Towards a broad alliance of partners committed to sustainability
Of course, such ambitions cannot be realized alone. Banx itself is the result of a collaboration between 2 purely Belgian digital players: Proximus and Belfius. Proximus is the driving force behind Banx, whereas Belfius provides banking expertise, products and services.
Banx believes in the power of alliances. As of today, 7 collaborations with different partners can already be discovered on the banking app: Bolt, Edgard & Cooper, eFarmz, Hnst jeans, Kazidomi, Natagora and Natuurpunt. A.S. Adventure – with its sustainability label ‘With love for Our Planet’ and Bio-Planet – will soon also be present on the platform. and Bio-Planet will also soon be found on the platform. In the future, even more partners will be welcomed on the Banx platform. In this way, Banx wants to be a catalyst that on the one hand brings together different partners that have sustainability in their DNA and on the other hand unites consumers with a passion for sustainability.
“As Minister of Public Enterprises, I welcome the pioneering role that both Proximus and Belfius intend to take in the digital and sustainable transition of our society. For example, the CO₂-dashboard integrated in Banx, enabling consumers to make sustainable choices, meets today’s societal challenges and needs,” said, Petra De Sutter, Federal Minister of Public Administration, Public Enterprises, Telecommunication and the Postal Services.