Algbra is on a mission to eradicate social and financial exclusion and provide ethical and sustainable financial services to everyone. The platform offers a range of financial services, and is built on state-of-the-art financial technology. Algbra’s commitment to ethical finance means that money will never be held in a high-risk way or be exposed to unethical industries.
Ethical finance is a broad range of financial activities and services that prioritise ethical, social, and environmental considerations. For example, a financial services institution that provides services to underserved communities such as microfinance or community banking, or an ethical investment fund investing in a company with a strong track record of social responsibility. Other examples include measuring and offsetting the carbon footprint of your financial transactions.
“At Algbra, we believe that financial services should be accessible to everyone,” co-founder and CEO, Zeiad Idris comments, “and we believe in the power of financial technology to drive positive change in society. Our aim is to ensure that our values-focused consumers have access to financial services that align with those values, without having to compromise on quality. “Algbra’s innovative approach balances values, finance, and technology to provide a unique customer experience,” continues Idris.
The platform offers a comprehensive range of financial services that cater to the modern-day consumer’s needs.
The app’s user-friendly interface makes it easy for customers to move money, track their spending, and even offset their carbon footprint. Customers can choose from three different biodegradable cards, which are delivered to their doorstep free of charge. Additionally, for one-time payments, the platform offers an Algbra disposable card that ensures the security of users’ accounts. With every transaction, users can measure their carbon impact and use the platform’s offsetting tools to manage their footprint.
As 72% of global greenhouse gas emissions are caused by our consumption behaviours, the platform’s carbon tracking and offsetting features enable users to make a positive impact on the environment by supporting high-quality carbon offsetting projects that benefit the planet and local communities worldwide.
Algbra has launched Algbra X, a social impact foundation that collaborates with UK communities to create innovative spaces, support grassroots initiatives, and promote financial inclusion and social justice. Chai Mama is another platform established by Algbra to address the specific challenges faced by women and young mothers in achieving financial stability and independence. It provides a safe and supportive space for women to share their experiences, learn from others, and receive expert guidance on financial topics. Through Algbra X and Chai Mama, Algbra aims to empower communities and women to take control of their financial futures and build a more sustainable and equitable society.