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Iceland-based Íslandsbanki has invested €3 million in digital banking firm Meniga, bringing the total investment in the company from banks this year to €9.1m.

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 digital banking journey and this investment is another exciting chapter in our long-running partnership with Íslandsbanki. The banking landscape is evolving faster than ever and 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. By committing investment to the company we are not only deepening our relationship with the team but also investing in the future development of innovation in digital banking and personal financial management solutions.”

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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