“Socially conscious” alternative investing/lending service aimed at the underserved consumer.
Aspiration tracks two main factors for about 5,000 companies–restaurants, retailers, coffee shops, and other– measuring the impact of those companies on “people and planet,” as its CEO Andrei Cherny puts it. The factors are tracked from the purchases made from a user’s Aspiration card, supported by Mastercard.
This feature is in line with a growing trend of transparency within financial services, as consumers become more curious about the end impact of their spending and investments.
However, before Aspiration, the approach has not been widely seen in personal banking space.