Meniga and Nordea Sweden to boost digital banking offering with cashback rewards

By Megha Bhattacharya

Meniga has announced the expansion of its partnership with Nordea Sweden with the continuation of the integration of its cashback rewards platform within Nordea’s own mobile banking app. Nordea will continue to offer personalized cashback rewards, which are customised to individual spending profiles, to its customers in Sweden.

Georg Ludviksson, CEO & co-founder of Meniga, commented, “We’re delighted to have renewed our contract with Nordea Sweden. At a time when neo-banks and fintechs alike are increasingly launching their own cashback rewards platforms, it has never been more important for banks to follow suit if they wish to stay relevant and compete in this new financial landscape.”

“Our rewards service presents a perfect illustration of how financial institutions can take advantage of the opportunities provided by open banking, in order to open up their digital channels, extract value from their users’ financial data and create a mutually beneficial ecosystem with their customers and other industry or non-industry players.”

Meniga’s cashback rewards platform allows banks to leverage financial data in order to unlock new dimensions of customer engagement while offering banking customers personalized cashback rewards, tailored to their individual spending profiles. Through the multi-bank platform, banks can seamlessly integrate, via Meniga’s cloud-based API, cashback rewards directly into their mobile banking applications, and provide their customers with various personalized, cashback rewards and discounts from some of their favourite retail brands.

Gunter Saurwein, Managing Director of Meniga Sweden AB, commented, “Having Nordea Sweden’s continued trust and backing is a testament to how seamlessly our cashback rewards platform has integrated into Nordea’s digital properties, and how well it has been received by consumers and merchants right across Sweden.”

“We’re excited to further collaborate and work closely with Nordea on continually improving our rewards platform, as we look to grow and expand the product to the Nordics, Europe and beyond.“