Today’s consumer cares about values as well as value — and companies that aspire to market leadership are paying attention. While price and ease of purchase continue to influence a decision to buy, so does the degree that a brand aligns with a shopper’s personal values. According to one recent study, 57% of consumers are willing to change their purchasing habits to help lessen a negative impact to the environment, and among those who say sustainability is important for them, this jumps to 77%.
London-based Novus is building a next-generation digital banking app to serve the conscious consumer. Six core values of authenticity, ethics, transparency, empowerment, trust, and solidarity drive their vision. In line with the belief that small changes can add up to a real positive difference, Novus plans to offer customers a choice between a compostable debit card or an eco-conscious virtual card that will remain in their digital wallet.
Novus CEO and co-founder Hristian Nedyalkov said he would like to see Novus evolve into the “ethical super app for the conscious person.”
“Every app interaction would result in some form of positive impact for our members, our planet, and our society as well,” he said in an interview with Marqeta.
Novus chose to partner with Marqeta because Marqeta’s private sandbox and open APIs allow them to launch faster. “APIs are essential for us,” Nedyalkov said. “Without them we would need to reinvent the wheel or commit to bulky enterprise software and would essentially be stuck at someone else’s limits.”
They were also drawn to the ability to participate in each payment authorization in real time.
“Marqeta will be a vital partner for us as we get ready to launch this year, helping us to speed up time to market while also empowering us to customize features and scale quickly our impact- and sustainability-driven proposition,” Nedyalkov said.
Within the app, Novus plans to enable users to make banking transactions, work toward their savings goals, and stay on top of their budgets amongst other money management features and impact-driven investment products to come. Additionally, users will be able to search for and shop for sustainably manufactured products while enjoying exclusive discounts and rewards from the ethical brands they want to support.
Nedyalkov said Marqeta’s purpose aligns with Novus’ own. “The moment we shared our value proposition with Marqeta and what we are trying to build, it was an instantaneous match,” he recalled.
Set to launch in 2021, Novus aims to show that people can thrive financially while helping people and the planet.