Bud selects Minna Technologies to boost open banking platform
By Megha Bhattacharya
FinTech Bud has selected Minna Technologies, a Swedish tech company, to provide banks with access to Minna’s subscription management tools through Bud’s Open Banking platform. The combined service will make use of Bud’s data intelligence capabilities to identify spending on subscription products like Netflix and Spotify and will allow users to manage (and cancel should they wish to,) those subscriptions from inside their primary bank apps.
Bud’s CEO, Ed Maslaveckas, commented: “We designed the platform to act as that intelligent system that can use transaction data to unlock valuable insights and highlight the next best step for customers to take. The partnership with Minna is a great example – our end goal is to enable our clients to help their customers improve financial wellbeing. We know that forgotten subscriptions are a significant cost for people and the partnership with Minna enables us to address that cost seamlessly, and at scale”
“The team at Minna shares our vision. Their subscription cancellation service, coupled with Bud’s other capabilities, like spending insights and smart nudges, means banks and other FIs can access the largest array of capabilities to power their next-generation mobile banking app from a single supplier.”
Joakim Sjöblom, CEO of Minna Technologies says: “Our partnership with Bud illustrates our continued drive toward collaboration with the market as we continue on our mission to help retail banks deliver powerful digital experiences within subscription management. Together with Bud, we can enrich banks’ toolset by helping them to reduce operational cost while also providing their end-customers with a digital-first experience, ultimately supporting better consumer financial health within the subscription economy. Steven Hoy, Head of Strategic Partnerships at Minna Technologies says: ‘Strategic partners like Bud help us to harness the power of open banking and accelerate the adoption of digital. This alignment of vision and values is key to success.”
Recently, Minna Technologies announced that it has joined Visa Fintech Partner Connect – a program designed to help Visa’s issuing clients quickly connect with a vetted and curated set of technology providers.
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