Leading integrated finance provider Paynetics has revealed that it has acquired Novus, the first "impact neobank" in the United Kingdom.

The agreement demonstrates Paynetics' dedication to furthering its environmental, social, and governance (ESG) objectives while carrying on providing its integrated finance suite to the financial services sector.

Paynetics: Using Novus, leading the ESG charge

Novus has established a reputation for itself as a "impact neobank" by skillfully fusing financial services with occasion-driven positive effect projects and reinventing traditional banking by enabling socially aware customers to make a difference.

Because Novus has a distinctive business strategy that automatically donates a percentage of its profits to the non-profit organization of the customer's choosing, customers may support causes that resonate with them.

Customers may trace the carbon footprint that their purchases create using the Novus app, which has gained popularity for offering alternatives to offset these footprints through approved Carbon Removal Projects.

In fact, Novus's services were included in our list of the Top 10 Sustainability Trends for 2024.

The CEO and co-founder of Novus, Hristian Nedyalkov, states: "Novus' goal was to make an effect by using the financial perspective. Our goal was to enable all businesses and customers to prosper while doing good. We will intensify our mission and accomplish new things with the help of Paynetics' expertise.

With Novus being part of Paynetics, the company intends to improve neobank's products even further and grow the ESG ecosystem throughout Europe by enabling customers to advance projects through the corporate integrated finance solution for a more sustainable future.

Co-founder of Paynetics Ivo Gueorguiev continues, saying, "We believe in the power of people to transform the world."

The purchase of Novus by Paynetics is a wonderful fit with our goal of accelerating businesses via speed and innovation. Together, we'll build a future in which customers are enabled to flourish and have a good influence through a single platform.

We had a conversation with Gueorguiev last year on the ways integrated finance is assisting program managers in their fight against fintechs. Paynetics is now pushing embedded finance to new heights in the financial services industry to promote ESG.