Íslandsbanki invests €3 million in Meniga’s digital banking solutions


Meniga’s total investment from banks in 2018 reaches €9.1 million

Reykjavik, November 6, 2018 – Meniga, the global leader in digital banking solutions, today announced a €3 million investment from Íslandsbanki, bringing total investment in the company from banks this year to €9.1m.

Íslandsbanki is the third bank to have invested in Meniga this year. The Icelandic bank follows Swedbank´s investment in April and the strategic partnership announced with UniCredit in June. Meniga will use the proceeds from the Íslandsbanki investment to enhance product research and development.

Meniga announced the investment at its Fin42 customer conference in Reykjavik today. The conference brings together industry leaders in banking and fintech who are discussing the future of bank-fintech collaboration to improve customer service.

Commenting on the announcement, Georg Ludviksson, CEO and co-founder of Meniga, said:
“Meniga is committed to supporting banks in their development of digital banking and this investment is another exciting chapter in our partnership with Íslandsbanki. The banking landscape is evolving faster than ever. It is driven by new competitors, regulatory changes and rising customer expectations. Therefore, it is vital for banks and fintech companies to work even closer together to thrive in the new digital ecosystem.”

Birna Einarsdóttir, CEO at Íslandsbanki: “We strive to constantly improve our customers' digital banking experience and we believe that Meniga’s industry-leading digital banking offering is a key part of this effort. We have committed the investment to Meniga because it is part of our digital and open banking journey and are looking forward to deepening our relationship with Meniga.”

Íslandsbanki and Meniga have worked closely together since launching the first Personal Finance Mangement solution in Europe in 2009. In 2017 they partnered to deploy a Meniga’s personalised reward program which provides the banks customers with cashback offers tailored to their individual spending profile.

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