Canadian direct bank Tangerine has formed a partnership with Meniga, a digital banking solution developer.
Through the agreement, Tangerine will deploy Meniga’s banking solutions to its clients in a bid to offer Canadians innovative solutions to improve financial decisions. Customers of Tangerine will now gain a clearer picture of their finances and get better categorisation for their transactions, enabling them to make smarter decisions and improve spending habits.
The first product rollout from this partnership will be Meniga’s transaction enrichment, data-driven personalised insights and reports. Other personal finance solutions set for a later implementation include a programable banking interface which combines 3rd party data and savings.
Meniga is a digital banking solution developer which provides financial institutions with services to improve their online and mobile infrastructure. Some of the company’s clients include Santander, BPCE, Intesa, ING Direct, Commerzbank and mBank.
Its product portfolio includes personal finance management, automated real-time notifications, predictive analytics & personalised engagement technologies, card-linked offers and consumer data analytics.
Meniga CEO and co-founder Georg Ludviksson said, “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.”
Earlier in the year, Meniga raised €3.1m investment from UniCredit Equity Venture Opportunities, in exchange for a minority stake. The company also picked up a €3m equity injection from Swedbank in April, as part of a partnership with the institution.
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