FinovateEurope 2013 / Meniga
Presenter Profile:
How they describe themselves: Meniga offers white-label personal finance management (PFM) and next generation online banking solutions to retail banks. It helps banks’ customers better manage their personal finances while helping banks realize business benefits through data mining, cross-sales, retention and customer satisfaction. To achieve true mass appeal, Meniga uses social curiosity, humor and gaming concepts to engage users to think about their money.
How they describe their product/innovation: “To buy or Not to buy” is a white-label module for mobile banking applications, that uses PFM functionality to empower and influence consumers at the point of sale or when considering buying something.
It allows users to check if they can afford what they are about to purchase or see how much closer to their savings goals they would get if they save the money and use it to feed their goal instead.
One unique aspect of this innovation is allowing users to leverage their social networks & direct messages to crowd-source the decision and instantly collect feedback before making the purchase. This fun and simple feature uses gamification to engage users and their network of friends.
Contacts:
Bus. Dev. & Press: Georg Ludviksson, CEO, georg@meniga.com, +46 767822146
Sales: Duena Blomstrom, VP Sales, duena@meniga.com, +46 708620578
Website: meniga.com
Blog: blog.meniga.com
Twitter: @meniga
HQ:
Stockholm, Sweden
Founded: 2009
Product Demoed: Meniga PFM Solution
Product Launch: December 2009
Metrics: $1.3M raised, 35 employees, cash-flow positive. European market leaders in white-label PFM solutions for retail banks with 10 implementations & with retail banks in Sweden, Norway, Finland, Germany, Poland, S. Africa, Russia and Iceland.
- Key Executives
Georg Ludviksson (CEO & Co-Founder), Asgeir Asgeirsson (CTO & Co-Founder), Duena Blomstrom (VP Sales), Einar Gustafsson (VP Product Management)
Key Stats
- Key Board Members
Dr. Eggert Claessen (MD, Frumtak Venture Capital), Gudmundur Hafsteinsson (Entrepreneur, Former VP Product, Siri/Apple & Senior Product Manager, Google), Hilmar Gunnarsson (Investor & Former EVP Global Sales & Marketing, Oz Communications)
- Key Advisory Board Members
Chris Skinner (Financial Services Club Chair), Breki Karlsson (Head of the Institute for Financial Literacy, Reykjavik University)
- Key Investors
Frumtak Venture Capital
- Key Partnerships
CREALOGIX Group: Switzerland/Germany, Omikron: Hungary, Pennant: Middle East, Loki Consulting: Canada, Grapevine Interactive: S. Africa
- Key Customers
Skandiabanken Sweden & Norway, The Finnish Savings Banks Association (Säästöpankkilitto), Íslandsbanki, Arion Bank, Landsbanki in Iceland, several un-announced