Meniga, UK-based AI-powered digital banking solutions announced on Friday it has expanded its services to the U.S. The U.S. launch comes less than six months after Meniga secured €8.5 million through its latest strategic investment round, which was led by French banking group Groups BPCE with participation from Grupo Crédito Agrícola, UniCredit, Velocity Capital, Industrifonden, and Frumtak Ventures.
Founded in 2009, Meniga claims it is the European market leader of white-label Personal Finance Management (PFM) and next-generation online banking solutions. The company currently serves 65 million digital banking users across 30 countries.
“Meniga’s award winning solution helps multiple retail banks across the world create mutually beneficial digital relationships with their customers by dramatically improving their online and mobile banking user experience through innovative solutions designed to get people to think about and engage with their finances.”
Menage reported that its suite of products will ensure that America’s traditional banks can future-proof and improve their offering to customers, against a growing number of challengers and technology giants such as Apple, Amazon, Google, and Facebook, which are currently grabbing significant shares of the market. Speaking about the expansion, Paul Renken, North America Head of Sales at Meniga, stated:
“In this era of rapid digitalization, Meniga has established itself as the market leader for upholding, and increasing, the competitiveness of banks in the European market. Since expanding into the Southeast Asian market just last year, we’ve also been instrumental in getting some of the area’s most popular banking apps to market. By opening up to the US, we’re going to be leading the charge here too.”
Georg Ludviksson, CEO and co-founder of Meniga, added:
“In the current economic climate, it is crucial that Americans are getting the support they need from their banks, and help with the management of their personal finances. But if the bank fails to respond with anything but an efficient and enjoyable user experience, those customers will go elsewhere.”