Meniga to expand UK product offering beyond financial services with a new FCA licence

Meniga to expand UK product offering beyond financial services with a new FCA licence
20.02.2020 10:17 am

Meniga to expand UK product offering beyond financial services with a new FCA licence

Banking

Meniga (www.meniga.com), the global leader in digital banking solutions today announces that it has been successfully registered as an Account Information Service Provider by the Financial Conduct Authority (FCA) in the UK.

This underlines Meniga’s credentials as leading experts in Open Banking, enabling it to expand its product offer to customers beyond the financial services sector.

In the Nordics, Meniga already has extensive experience in working with non-traditional providers of financial advice such as insurers and retailers, but its new FCA licence means that the company can now provide additional, regulated products and services, including:

  • Account information services such as account aggregation services i.e. aggregation of account and transaction data from financial institutions.
  • Better support for institutions that are not licensed by FCA but would like to engage with end users on their finances (like retailers or telcos).

Meniga has been providing white-label digital banking solutions since 2009 and the new licence reflects the company’s increasing engagement with new potential partners such as insurers, telcos, retailers, and credit scoring & lending institutions.

The FCA licence therefore represents another step in Meniga’s journey to becoming a global, one-stop shop providing full Open Banking services. Meniga’s new offer will include licensed data retrieval, insights and analytics, and a powerful API platform complemented with award-winning UX.

Georg Ludviksson, CEO and Co-Founder of Meniga, comments: “The FCA licence is an important milestone for Meniga. We will now be able to test new innovations against the Open Banking APIs and with real use cases, which will help us develop products of outstanding quality. A top priority of ours has always been to constantly improve, and we are now even better equipped to do so across multiple sectors and in line with technological advancements, to meet the rapidly evolving needs of the end consumer.”

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