New bank Account Morally Monitors Your Purchases

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Aspiration financial firm is a B-corporatoin that wants to help people “vote with their wallets”. It’s incredibly hard for individuals to stay up to date on the damage that large organizations do despite that a lot of people care. Consumers want to punish companies for some of their actions from United kicking people off airplanes to Shell lying about climate change. This means there’s an opportunity for Aspiration to help people divert money from companies that make the world worse, and the company is growing as a result.

Called Aspiration Impact Measurement (AIM), the program analyzes not one, but thousands of data points to generate two scores for companies: The “People” score gauges how well companies treat their employees and communities, and the “Planet” score assesses companies’ sustainability and eco-friendly practices. Every time an Aspiration customer swipes the debit card associated with their account to make a payment toward a company, that company’s Planet and People scores are funneled into the customer’s personalized AIM score, which reflects the positive (or negative) impact of where they shop.

“People have been hungering for this exact kind of information,” Cherny says. “We see this in our customers, we see this in all these surveys that are coming out about how younger people especially, but consumers overall, are thinking about how a company behaves and how its products are created as they make decisions on where to buy. But until now, they haven’t really had the information to be able to do so.”

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