Share was founded in 2018 and is selling bottled water, cereal bars, caps and many other products via German supermarkets. As their brand name suggests, Share has a strong social angle and with every product sold, they provide a similar product to a person in need (e.g. for every water bottle sold in Germany they finance a water ration in emerging markets).
Now they launched their first financial product: a current account in cooperation with ING Germany (news; website). The bank account costs one Euro per month more than the standard ING bank account and ING contributes one additional Euro per month to the project. The bank account owner can choose which initiatives should be supported with these amounts.
The underlying bank account is a standard ING bank account and since Share does not have an extensive digital product offering, the solution is not really "embedded". It is an interesting product launch for the industry nonetheless with an interesting partnership. Basically, ING is bringing the 'banking offering' to the table and Share adds their brand and social angle to it.
I have mentioned before that more climate / social supportive banking products are likely to emerge and ING partnering with a brand like Share makes a lot of sense. It will be interesting to follow if additional financial products will be offered and how the partnership will evolve.
