The economy of happiness

We need to create a better world: here is the greatest teaching of the times we are living. Changing our behavior, welcoming the future and designing it according to the expectations of the next generations is an imperative from which there is no turning back. But to do this, better decisions are needed: it has suddenly become necessary to know how to manage paradoxes and unforeseen events, to be resourceful, creative and proactive, to build human relationships capable of enhancing each individual and taking care of the environment around us every day.

We are at the stage where change needs to be explored, focusing on a concept that must transform itself from abstract to concrete, from immaterial to tangible: sustainability. Because this word contains a world, and it is the world of tomorrow.

With Flowe, a name that combines the meaning of “flow” (Flow) with that of “we” (We), Banca Mediolanum has decided to realize this ambition, combining environmental sustainability, individual well-being and social evolution with an innovative and completely digital banking service . Launched last June, it has already surpassed 700,000 users (called Flome), offering young people and students a payment account with an associated virtual debit card in the app, capable – for example – of calculating the CO2 impact of each daily transaction and suggesting which actions to take to balance it. But more than an Open Banking Platform, Flowe wants to be one community of people, united by the ideal of an economy of improvement.

“Better people create a better world”, explained at the presentation of the project Ivan Mazzoleni, CEO since May 2019. But here the CEO (who does not come from the banking sector, but from Microsoft) is actually the “Cultural Energy Orchestrator”, a navigator capable of directing positive energies towards objectives that look to the future, and not just to profit. For this reason, Flowe was formed as Benefit company, or by integrating in its statute the commitment to create a long-term positive impact for the community and the planet. As? By offering banking services that help you manage money, set personal goals, develop your potential and be aware of the environmental impact of your transactions, in order to direct them to more sustainable choices. In short, be happier.

Flowe account opening is free, fast and digital. To “enter the flow”, all you need is a smartphone, a selfie and a few minutes. Supported by Android 6.0, iOS 13 and later, the app allows you to open a profile fan O friend (with wider functionality), by creating an account associated with an Italian Iban number. In the first case, the maximum balance is 10 thousand euros without a monthly fee, in the second it is 75 thousand, with a fee of 10 euros per month. Being virtual, the debit card Mastercard allows you to pay directly from your phone, even with Apple Pay e Google Pay. But the Flowe application exists and has a noble purpose even in the “real” world: by paying 15 euros, in fact, it is possible to receive a debit card made of wood coming from certified forests managed on the basis of precise environmental standards.

For each user who requires the wooden card, Flowe plants a tree in the Pèten region of Guatemala, as an initiative to compensate for the purchasing choices of its users. The initiative is realized thanks to the partnership with the Italian startup ZeroCO2, which deals with reforestation projects and support for local economies. On the Flowe app you can see where your tree is and follow its growth thanks to the photos you submit. But Flowe realized numerous other projects together with partners who want to create a positive impact for the environment and communities. Examples are the construction of an aqueduct to bring drinking water to 37 families in Sri Lanka, the adoption of three whales with Tethys and six turtles with Plastic Free, support for over 150 plastic collection events, funding a D-heart for the purchase of 12 portable defibrillators donated to general practitioners and support for the startup Kids of Broken Future for her ethical and sustainable fashion projects.

Furthermore, thanks to the Åland index developed by the fintech startup Doconomy, i Flome they can view the equivalent CO2 value for each purchase on their phone, so they can choose later more sustainable forms of consumption. As an accelerated course of economic sustainability, also present in the management of savings with the “drop” function, which allows you to periodically set aside pre-established sums in view of a goal or a desire.

In addition, Flowe offers a series of videos and courses with advice to encourage personal growth and individual well-being to live better, in a healthier, more sustainable and happier way, call Focus. It is a mini-series with practical tips and wisdom pills offered by different experts: to learn new soft skills and progress in personal growth. The videos Focus they are unlimited with the plan Friend, while they have a pay-as-you-go cost for the accounts Fan. But with a view to personal improvement the app proposes even a pedometer: have you ever seen it in a bank?

In short: Flowe does not hide its goals. He wants to have a positive impact on people, through teaching innovation and sustainability, awareness of one’s own economic resources and the entrepreneurial spirit that resides in many of us, but which needs to be addressed to make more reasonable choices. Flowe puts the individual at the center of his world and promotes the economy of improvement, or a new ecosystem in which each of us is committed to having a healthier lifestyle, in harmony with others and with the environment that surrounds us. Because creating a better world is possible, but building it will always depend on our choices.