Meniga Receives $3.7 Million to Fuel International Rollout

Digital banking and marketing startup Meniga announced it received a $3.7 million (€3 million) investment from Nordic bank Swedbank. This brings the company’s total funding to $27.1 million since it was founded in 2009.

Swedbank’s investment comes after the bank agreed to launch Meniga’s digital banking solutions for its customers in Sweden and in the Baltic countries. Swedbank has more than 7 million retail customers and 625,000 corporate customers. The bank has 218 branches in Sweden and 133 branches across Baltic countries.

Lotta Lovén, head of digital banking at Swedbank, said that the banks’ customers not only prefer a digital experience, but also want relevant offers and services to make life easier. “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,”Lovén added.

Headquartered in London and with offices also in Reykjavik, Stockholm, and Warsaw, Meniga offers white-label digital banking solutions for 50 million digital banking users in 23 countries for banks such as Santander, Intesa, ING Direct, Commerzbank and mBank. At FinovateEurope earlier this year, the company won Best of Show for Richest Transactions, a solution that helps banks leverage data associated with transactions.

This month, the company’s CEO Georg Ludviksson was selected as one of top 200 Fintech leaders in Europe. In February, the company announced a partnership with France’s second largest banking group, BPCE.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateEurope 2018 Best of Show Winners Announced

If there is one theme that unites all of our FinovateEurope Best of Show winners this year, that theme may be summed up in one word: data. As Finovate senior research analyst Julie Muhn pointed out during a recent conversation, the ability to leverage data to create more meaningful, more personalized, more secure experiences for consumers of financial services underlies much of the innovation that we see not just on the Finovate stage, but across fintech writ large, as well.

In this way, financial technology is turning the old adage – it’s not what you know, it’s who you know – on its head. The connections between us and the things we do, the places we go, the transactions we make, are in many ways the Holy Grail for companies that are constantly seeking out better ways to serve us. And for those companies that do win our trust and gain access to what we know and do, the rewards could not be greater.

With this in mind, we present to you a small sample of those companies that may be best positioned to take advantage of this Golden Age of Data: the Best of Show winners of FinovateEurope 2018.

Backbase for its Customer OS, the next generation of the Backbase Digital Banking Platform, which is laser-focused on providing customer-first journeys.

 

Be-IQ for its holistic and gamified approach to risk profiling and financial well-being that accounts for the very contradictions that make us human: our behaviors.

 

CREALOGIX for its customer banking platform, Gravity, which is breaking new ground with its intuitive and user-friendly, self-service insights application.

 

iProov for its liveness-protected, facial biometric authentication technology which is fully-automated for fast, easy and ultra-secure mobile and PC on-boarding.

 

 

Meniga for its digital banking solution that helps banks around the world use data to personalize digital channels and drive customer engagement.

 

Microblink for BlinkReceipt, its SDK for real-time extraction of all purchase data from retail receipts and OCR technology which eliminates typing from mobile apps.

 

 

W.UP for its digital banking sales and engagement solution that uses pre-built customer insights to build relevant, personalized, and timely interactions with clients.

 

Please join us in thanking our sponsors and partners who help us make FinovateEurope a huge success year in and year out. And be sure to stay tuned for coverage of our new extended format on Thursday and Friday as we take deep dives into some of the most pressing issues and fascinating trends in fintech today. For more information about the keynote addresses, panel discussions, and fireside chats coming up on Days Three and Four, our full agenda is available on our FinovateEurope 2018 page.


Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The seven companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 through 2018 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017
FinovateSpring 2017
FinovateFall 2017
FinovateAsia 2017
FinovateMiddleEast 2018

Meniga to Support Digital Transformation for French Banking Group, BPCE

With FinovateEurope right around the corner, our antennae is tuned to any and all news from what Americans call “The Old Country.” The latest dispatch features European digital banking solutions provider – and multiple Finovate Best of Show winner – Meniga and its newly announced partnership with France’s second largest banking group, BPCE.

“Meniga is excited to be partnering with BPCE,” Meniga co-founder and CEO Georg Ludviksson said. “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.”

Per the agreement, BPCE will deploy Meniga’s technology across its Banques Populaires and Caisses d’Epargne in France. The first phase of the rollout will feature Meniga’s Financial Activity Feed, a real-time spending overview with personalized, data-driven alerts and insights for customers. The partnership comes as the EU Payment Services Directive (PSD2) compels new relationships between banking customers, financial services providers, and third party fintechs.

“As we enter into an era of open banking, we look forward to working closely with Meniga to transform our digital customer experience,” said Francois Perol, BPCE CEO. “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.”

Winner of Best App and Best Web Solution at the Icelandic Web Awards for 2017 earlier this month, Meniga was named one of five Reyjavik startups to watch by Wired in December and announced a new deployment of its technology at Spanish bank IberCaja in November. Meniga has raised nearly $23 million in funding, most recently picking up an $8 million investment in April. The company has offices in London, Reykjavik, Stockholm, and Warsaw, and serves more than fifty million digital banking users in 20 countries.

Meniga’s most recent Finovate appearance was at FinovateEurope last February. Ludviksson and Chief Product Owner Finnur Magnusson demonstrated Personal Finance Challenges, a new UX and API designed to help users take short-term actions that can improve their financial fitness. The solution leverages goal-making, community reinforcement, and “nudges” to help users accept and meet challenges that will encourage better financial habits. Challenges won a finalist spot at the FStech Awards earlier this month.

Be sure to check out Meniga’s latest solution when the company returns to FinovateEurope next month in March.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.