Canada’s Tangerine Bank Announces New Partnership With Digital Banking Solutions Provider Meniga

Canadian direct bank Tangerine announced on Tuesday it has formed a partnership with digital banking solutions, Meniga. According to Tangerine, the new collaboration allows Tangerine to deploy Meniga’s digital banking solutions to all its clients, as part of its commitment to providing innovative solutions that help Canadians make smart decisions with their money.

Tangerine also reported that the integration of Meniga’s software means clients have a clearer view of their finances through more accurate categorization of their transactions and a more customized banking experience – consistently across their online and mobile channels. Clients will notably have an easier time making the smart decisions needed to get ahead financially, by staying on top of their spending and saving behaviors. Speaking about the partnership, Georg Ludviksson, CEO and Co-founder of Meniga, stated:

“We’re proud to partner with Tangerine Bank, one of the most innovative and customer-centric banks in the world, with a strong emphasis on digital excellence. The partnership with Tangerine represents a key milestone for our global expansion ambition, as Meniga gains a strategic foothold in North America.”

Mark Nicholson, Vice President of Client Experience at Tangerine, then noted:

“Meniga shares our vision for the future of digital banking, and the partnership between us is a natural fit. The innovations we’re working on together will help us to radically transform our clients’ banking experiences and alter the nature of how consumers engage with their money.”

Tangerine went on to add that as part of the project, it has introduced individualized banking enhancements that help clients get true value from their banking experience. The first phase of the rollout includes Meniga’s transaction enrichment, data-driven personalized insights, and reports.

Swedbank Invests €3 Million in White Label Digital Banking Solution Meniga

Meniga, a UK-based digital banking solution, announced on Monday it secured a €3 million investment from Nordic banking group Swedbank. The fintech startup reported that the investment follows a partnership agreement to launch its personalized digital banking solutions across Swedbank’s markets in Sweden and the Baltic countries.

Meniga also revealed that the partnership represents a growing recognition that a personalized digital user experience is critical for banks to remain competitive in an industry faced with open banking and growing regulatory pressures. While sharing details about the partnership with Meniga, Lotta Lovén, Head of Digital Banking at Swedbank, stated:

“We know our customers want us to be proactive with relevant offers and services to make their everyday life easier, and we know that more and more of our customers prefer to meet us digitally. We see Meniga as an innovation partner to give our customers a digital experience that includes a better overview and insights of all their finances both from Swedbank and external parties. We are very pleased with the agreed partnership.”

Georg Ludviksson, Co-founder and CEO of Meniga, also commented:

“We are delighted to welcome Swedbank as a strategic investor and look forward to playing our part in their digital transformation. We have been very impressed by Swedbank’s ambition and dedication to digital innovation”

The companies added that Swedbank’s investment in Meniga forms part of a strategic financing round in Meniga which includes other key customers of the company.

BPCE Forms Partnership with Meniga to Accelerate Digital Innovation

On Wednesday, French banking firm BPCE announced it signed a partnership agreement with Meniga, a digital banking solutions company. According to the duo, this new agreement will see BPCE deploy Meniga’s technology across BPCE’s Banques Populaires and Caisses d’Epargne in France. 

As part of its digital transformation, BPCE will integrate Meniga’s technology to enhance their digital channels and introduce compelling new personalized services to better serve its customers. The first phase of the rollout will include Meniga’s award-winning Financial Activity Feed, real-time spending overview, and data-driven personalized alerts and insights.

While sharing more details about the partnership, François Pérol, CEO of BPCE stated:

“As we enter into an era of open banking, we look forward to working closely with Meniga to transform our digital customer experience. Meniga’s data-driven digital banking solutions will help accelerate our digital transformation journey and help us adapt to the ever-evolving needs of our customers” 

Georg Ludviksson, CEO and co-founder of Meniga, added:

“Meniga is excited to be partnering with BPCE. We have been very impressed by BPCE’s commitment to digital innovation and their clear focus on their mobile banking application through a simple and personal user experience.”

Chris Skinner Invests in Meniga, a White Label Digital Banking Solution

Chris Skinner, a Fintech industry commentator, author, speaker, and publisher of the Finanser blog, has invested in Meniga, a digital banking solutions. Skinner has been part of the Meniga Advisory Board since 2011.

Based in London, Meniga works with some of the world’s largest financial institutions, such as Santander, Intesa, ING Direct, Commerzbank and mBank, to improve their online & mobile digital environment.

Skinner is Founder and Chair of The Financial Services Club, the European network that is dedicated to shaping the future of financial services. He has been voted one of the Fintech leaders you need to know by City AM, one of the Top 40 most influential people in Fintech by Financial News and Game Changer of the Year and Financial Markets Advisor of the Year by Finance Monthly. He been an advisor to the White House, the World Bank and the World Economic Forum.

Skinner released a statement on his equity investment in Meniga saying  the company was at the forefront of innovation in the digital banking space;

“I have become a shareholder as I strongly believe in both the value of Meniga’s products and the market opportunity. Meniga is well-positioned to help institutions prepare for open banking and leverage the power of their own customer data to drive more meaningful engagement in their digital channels,” said Skinner.

Bragi Fjalldal, Chief Marketing Officer and Vice President of Business Development at Meniga, added that Skinner has been invaluable as part of their advisory board and they were thrilled he had become an investor;

“ We are looking forward to continuing to work in close partnership with him to transform the way financial institutions use data to personalise their digital customer engagement.”

The investment from Skinner comes after Meniga recently announced that it has become the first personal finance software provider to partner with Spanish bank IberCaja, as part of the bank’s drive to improve its digital offering.

 

London Fintech Meniga Raises €7.5 million

Earlier this week, Fintech firm Meniga raised €7.5 million in investments for their digital banking platform. This money was invested, or rather reinvested, primarily by Nordic venture capitalists.

Leading this round of funding was Industrifonden, a venture capital firm based in Norway. They were joined by several other investors, including Velocity Capital, Frumtak Ventures, and Kjölfesta.

Meniga is a Fintech firm, with their headquarters based out of London and a research and development center in Iceland. They started out in 2009 as a personal finance management service. However, they have since shifted towards a more personalized, user-centered, and data-driven strategy. These changes were made in the attempt to make online banking a more enjoyable and engaging experience for the user.

Meniga’s aim is to change the way that both banks and advertisers use transaction data, all through helping consume smarter. Their team consists of  coders, designers, data scientists, and of course sales people. They currently serve over 43 million people throughout 18 different countries and 4 different continents.

Meniga’s CEO, Georg Ludviksson, claimed that the demand for his product is higher now than every before:

“Banks are facing up to the reality that their future competitors are not just traditional banks, but also fintech start-ups, new challenger banks and technology giants like Apple, Facebook and Amazon. To compete effectively, they must innovate faster and become better at using their data.”

Since their creation in 2009, Meniga has raised over €21 million, including their most recent investments. Ludviksson stated how their investments will be used:

“The funding allows us to accelerate growth and work with more banks to help them pave the way for customers to engage through digital channels. Industrifonden is a great fit for Meniga, and their team brings decades of experience to help us on our journey.”

Only the future will tell just how fruitful Meniga and Industrifonden’s new partnership will be.

Meniga Raises €7.5 Million During Recent Equity Round As It Prepares to Advance Digital Banking Personalization

Meniga, a provider of digital banking technology for the world’s largest banks, announced on Friday it secured €7.5 million during its Series A funding round led by Nordic venture capital investor Industrifonden. Other participants in the round include current investors Velocity Capital, Frumtak Ventures, and Kjolfesta.

Launched in 2009, Meniga states its digital banking platform helps banks use personal finance data to enrich their online and mobile customer experiences. The company also noted that it has expanded its product offering to include data-driven card-linked offers, personalisation and other user-centric services designed to make online and mobile banking more engaging and useful. Georg Ludviksson, CEO of Meniga, stated:

“Banks are facing up to the reality that their future competitors are not just traditional banks – but also Fintech startups, new challenger banks and technology giants like Apple, Facebook and Amazon. To compete effectively they must innovate faster and become better at using their data. We have never seen higher demand for our solutions and innovation capability. The funding allows us to accelerate growth and work with more banks to help them pave the way for customers to engage through digital channels. Industrifonden is a great fit for Meniga and their team brings decades of experience to help us on our journey.”

Funds from the Series A will be used for continued investment in Meniga’s R&D activities, as well as for strengthening the sales teams to meet growing demand. Industrifonden’s investor Sofia Ericsson Holm will also be joining Meniga’s board. She added:

“Meniga is already working with many of the world’s leading banks and has built a strong reputation as an innovation leader in digital banking at a time when many banks are forced to re-think their digital strategies. We are particularly excited about the opportunities in data-driven digital banking and proud to support the exceptional Meniga team.”