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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.