Meniga and Nexi to develop portfolio of digital banking offerings

By Megha Bhattacharya

Italian PayTech Nexi has teamed up with FinTech Meniga in a bid to develop a portfolio of digital financial management services aimed at boosting bank-customer relationships. Meniga will join Nexi Open, thus allowing Nexi’s partner banks to offer Meniga’s PFM and BFM services, enhanced by the new features of access to customer accounts and money transfer between accounts governed by PSD2 regulations.

“The collaboration with Meniga allows us to further support Italian banks that want to offer their customers new digital services of financial management, enhanced thanks to the access to accounts enabled by open banking,” commented Renato Martini, Head of Digital Banking Solutions of Nexi – The institutions of our country, from today, will have a service that strengthens the engagement and relationship with the customer and offers solutions tailored to the needs of individuals, thus allowing a deeper knowledge”.

The collaboration will allow credit institutions to provide individual customers with the advanced features of a Personal Financial Manager, while small businesses will be able to access the services of a Business Financial Manager. The PFM for individuals allows them to have a clear view of their finances, aggregating the transactions from several current accounts into a single view. BFM facilitates the financial management of a small business or a small merchant since it allows the aggregation of transaction information in the company’s multiple current accounts.

“We are very happy to announce our partnership with Nexi. Combining our companies’ individual expertise, and with Nexi’s local network, we can now provide customers right across the region with unrivalled products that we know will excite their end-users, be they businesses and merchants or individuals. Providing the right financial management services will help Nexi’s partner banks ensure that their customers get the support they need when they need it – and all within the bank’s own digital infrastructure,” commented Georg Ludviksson, CEO and co-founder of Meniga.