London based fintech solutions provider Meniga has raised €7.5m in venture funding led by Industrifonden. Meniga provides digital banking technology to some of the world’s largest banks. Its various products include a software layer that bridges the gap between a bank’s legacy tech infrastructure and a modern API, making it easier to build consumer-friendly digital banking experiences on top and to comply with upcoming regulation such as PSD2.
Those new digital banking experiences typically show up in a bank’s mobile app and include things like personal finance manager functionality, an activity feed to help customers keep track of their spending, or the new “Challenges” module, a financial health tracker that harnesses social and gamification to nudge a bank’s customers into better budgeting. “Today’s banks are under pressure to innovate and improve their customer experiences online and yet they are beholden to legacy processes and legacy systems and are usually ill equipped to provide their customers with world class user experience in digital banking,” Meniga co-founder and CEO Georg Ludviksson tells me. “Meniga has built a reputation as a strong innovation partner to banks and its software solutions help some of the world’s largest banks utilise their data to make their online and mobile banking more personalised and inspiring”.