How Living Wage Is Your Wallet?

How Living Wage is your wallet? This is what the CoGo app can now answer with our new Open Banking integration that launched today. 

We're so pleased to be able to partner with the Living Wage Foundation, bringing all the consumer-facing Living Wage businesses on the CoGo app and championing their great work to the CoGo community. For us, the Foundation's work has never been so crucial. With rising rents and costs of living, increased reliance on food banks and payday loans; In-work poverty is affecting so many of the 5 million workers in the UK currently paid below the real Living Wage. This is why we're launching the all-new CoGo app this Living Wage Week"¦ 

Our game-changing new app now allows you to truly put your money where your heart is by discovering the real Living Wage businesses around you. Our innovative Open Banking integration allows you to discover exactly what percentage of your monthly spend is actually going to support those businesses paying their employees the real Living Wage. You'll be able to quite literally support real Living Wage businesses in every aspect of your daily life, whether that's with your morning coffee, your weekly shop, or even where you buy your clothes.  

Once you find out what percentage of your spend is actually going to real Living Wage businesses, Cogo will then provide you with customised recommendations, allowing you to seamlessly switch your spending to companies who match your values. Maybe you can switch your Thursday night drinks to one of the many Living Wage pubs and bars across the country or even change your energy provider! So if your percentage is low right now, don't worry - we've got you covered! 

The CoGo Living Wage badge is one of 12 badges companies on the Cogo App can be awarded for their ethical and sustainable actions. You can already use the CoGo app to search for businesses that support a whole range of socially and ethically conscious issues that matter to you, but we chose to launch our new feature with the Living Wage wallet to really champion such a crucially important cause at a time where it is needed the most. . 

What is Open Banking and how does it work? 

CoGo new secure technology is powered by Open Banking using Financial Conduct Authority approved, Accountscore, to enable consumers to have control of their data and use financial products and services from regulated apps and websites. We will use this secure technology to understand and provide the following insights: 

• If the businesses you're are currently spending with are CoGo accredited. 
• Show you the percentage of their spending that matches their values.  
• Recommend direct switches to accredited businesses, helping users on their conscious consumer journey 

You can find out more about Open Banking on our website here.

Here's our very own, CEO, Ben Gleisner further commenting our excitement to be on launching with Living Wage:

 "Launching with the  Living Wage Foundation was a given for us. In striving for a more ethical and sustainable planet it is crucial to start on the ethics of the workers at the heart of businesses.  Nobody should be struggling to make ends meet, yet statistically, a fifth of people in U.K households are trapped in relative poverty. That is an increase of 40% from the mid-1990s, driven in part by higher rents in private and social housing.

But we're not here to fear monger, CoGo empowers consumers to take these facts and act on them. We know it can be challenging for people to feel that they can have a real impact and that's why CoGo is built to help users on their journey from their morning coffee to lights out. We welcome you to join our journey and be part of a movement driving for purpose before profit."
Check out your Living Wage spend today, join the CoGo Founding Community here.