Aspiration, a financial services firm founded on the radical idea that clients should pay what they think is fair, wants to help its customer keep track of the impact of their purchases.
ADVERTISEMENT
A radical finance firm has an app that'll show you the impact of all of your purchases
Aspiration is equipping its checking-account users with a new tool that shows them how socially conscious and sustainable their purchases are.
Aspiration CEO and founder Andrei Cherny.
The firm announced April 26 it is equipping its checking-account users with a new tool, Aspiration Impact Measurement, that shows them how sustainable their purchases are. The firm doesn't disclose how many checking accounts they have, but told Business Insider that .
"Today, more than ever before, Americans are looking to put their values into action and their AIM score empowers them to demand that corporations act responsibly toward the environment and their employees,” said Aspiration cofounder and CEO Andrei Cherny. “Americans spend $36 billion a day as consumers, making decisions based on cost, convenience and quality. Now, for the first time, they’ll have an easy way to make spending decisions based on conscience, as well.”
AIM scores are calculated using Aspiration's proprietary algorithm that examines more than 75,000 data points.
ADVERTISEMENT
According to Cherny, the numbers behind the AIM scores are typically used by money mangers to inform their investment decisions.
"These are the kind of data providers that are working for investment firms, and hedge funds," Cherny told Business Insider."We repurpose this investor data for consumer purposes. It goes into an algorithm which then figures out those scores."
The service is only available for Aspiration customers, who can access their AIM scores for free within their Aspiration mobile app.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
ADVERTISEMENT