Minna Technologies has announced a partnership with Steven, the financial health app touted as the “best way” to keep track of shared expenses and the “best app” for settling debts among friends and family members, by simplifying debts and reminding yourself and friends when to “pay back.”
The partnership should enable Steven to identify and effectively manage their subscription-based costs, such as the option to cancel and manage recurring expenses directly via the app.
As the inflation cost-of-living reaches the highest levels seen in the past 40 years, we are seeing households looking to audit and evaluate their spending habits. From shared roommates’ expenses through to families, Steven makes it simpler to split the cost and manage these recurring expenses.
With the option to connect to 2,500 banking institutions across Europe via Open Banking, just last month, the app had almost 140,000 expenses created and debts settled for over €1,600,000.
The Steven app, whose community has grown more than 33% in 2022 and whose growth is on track to double this year to more than 250.000, has seen 8.5K groups created this past month.
Minna Technologies, the embedded Fintech company established in 2016, supports more than 20 million clients internationally via integrations within various retail banks and fintechs across European markets.
Minna’s integration into the banking app environment helps customers with managing their subscriptions where they are currently managing their overall financial health.
Andreas Arledal, CEO at Steven, said:
“Through partnerships like our work with Minna, we can ensure Steven users have a comprehensive set of tools within the app and that they are served with all of their expense management needs. Minna is a natural partner in supporting the increasing trend toward subscriptions. Our goal is to make it easy to identify, control and distribute subscription spending across a group of people hoping to collectively manage their costs. We want to give consumers control through actionable insights and to do it in a way that reflects how people are living and paying for things, making it easy to split and share expenses easily and transparently.”
James Bryce-Lind, Head of Strategic Development at Minna, remarked:
“Our mission is to help create a problem-free subscription economy which empowers consumers to take control of their expenditure, which is particularly relevant with the rising cost of living. Together with Steven we are meeting consumers’ relevant needs by offering a flexible and customized solution that helps Stevens users manage their finances better!”