A smart banking app that encourages sustainable living is releasing a beta product in the coming weeks.
After testing with early users, Novus will launch to the wider public this summer.
The banking and lifestyle tool, based in London, uses advanced technology to generate positive impact from everyday financial activity.
With the added support of an in-app marketplace, members can discover and buy from an expanding range of ethical and sustainable brands whilst receiving rewards for their ‘smart’ purchases in the form of cashback, discounts and a range of other benefits.
Co-founder and CEO Hristian Nedyalkov explained: “We created Novus to empower a new generation of conscious consumers to literally change the world with their fingertips. By combining ethical values with a modern, forward-thinking approach to banking, Novus works collaboratively towards a more inclusive and sustainable future.
“Every time you ‘tap’ your Novus card, we contribute to the causes closest to your heart, generating impact points as you spend and save. You can then track your impact and even view your carbon footprint to see just how far your conscious purchases have gone.
“Novus isn’t just a digital bank – it’s a way of life. Our next-gen technology allows you to turn everyday actions into micro-wins for you, people and the planet. By simply switching your debit card to Novus, your regular financial activities can be used as an actual force for good.
“Novus is for the cool, the conscious, and the world-changers. In this ‘new’ world, banking needs to change for the better, and the change starts now.”
Chief Growth Officer and Co-founder of Novus, Shruti Rai, added: “Conscious consumerism is when buying practices are driven by a commitment to making purchasing decisions that have positive social, economic and environmental impact, and this positive impact is what lies at Novus’ core.
“Whilst other banks reward their customers with points to buy more ‘stuff’, the rewards we offer the members of our digital community make real-time impact through their everyday spending habits and give back to NGOs we work closely with – whether that’s helping fund meals or education for those in need, saving animals, planting trees, cleaning the ocean and so much more.
“Since the start of the pandemic, there has been a growing sentiment (especially in the UK) about shopping more sustainably. Where consumers have previously been driven by accessibility, COVID-19 has seen shopping habits changing from convenience to being more purpose-driven.
“Many challenger banks are successfully digitising a more traditional banking experience, however, now is the time for the next phase in the digital banking evolution for financial services.”
Novus’ waitlist currently stands at over 10,000 individuals and says it plans to cap its membership throughout the initial stages to keep its community tightknit.