UniCredit to take a EUR 3.1 million minority stake in Meniga through UniCredit EVO
UniCredit today announced that it has signed a strategic partnership with Meniga, the global leader in digital banking solutions. At the same time the Group has taken a minority stake in the company thanks to a EUR 3.1 million investment through UniCredit EVO (Equity Venture Opportunities).
UniCredit will integrate Meniga's leading European FinTech's digital banking software, starting with Italy and Serbia, to make UniCredit customers' digital banking experience more personalised, with a focus on data-driven tailored contents. UniCredit will now be able to offer customers a consolidated view of all their cards and account transactions, including search functions, budgeting and financial planning functionalities, alerts as well as targeted advice according to spending history.
The EUR 3.1 million Meniga stake is the most recent equity investment done by UniCredit EVO since its 2016 inception. UniCredit EVO's aim is to accelerate the digital transformation of the Group through investments in FinTech in order to better meet the ever-evolving customer expectations.
Meniga will use the proceeds to strengthen product development and prepare for the expected accelerated market demand as the new EU Payment Services Directive (PSD2) comes into force across Europe.
Gianni Franco Papa, General Manger UniCredit and Chairman of UniCredit EVO commented: "UniCredit is strongly committed to developing innovative products and services that deliver tangible benefits to our customers. We are very pleased of this partnership with Meniga. Thanks to it, we will offer one of the best solutions available on the market, helping our customers to much more easily manage their banking and financial activities, while enjoying a simple and tailored user-friendly experience."
Georg Ludviksson, CEO of Meniga, said: "The Meniga team is excited to be part of UniCredit's digital transformation journey. The investment from UniCredit EVO will enable us to keep the momentum and focus on the continuous development of our products to ensure we're delivering the most innovative digital banking solutions to our clients."
UniCredit will implement, starting with Italy and Serbia, the Meniga "financial fitness" offering , that makes it simple and fun for people to reach their financial goals. The offering consists of combining people's financial profile, engagement analytics and personality traits to recommend short term actionable challenges. Meniga offers a selection of recurring and one-off challenges of varying difficulty. Users can join community challenges, challenge friends and share progress on social media.
Milan, 5 June 2018
UniCredit is a simple successful Pan European Commercial Bank, with a fully plugged in CIB, delivering a unique Western, Central and Eastern European network to its extensive client franchise: 25 million clients.
UniCredit offers both local and international expertise to its clients, providing them with unparalleled access to leading banks in its 14 core markets through its European banking network: Italy, Germany, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Russia, Serbia, Slovakia, Slovenia and Turkey. Leveraging on an international network of representative offices and branches, UniCredit serves clients in another 18 countries worldwide.
About UniCredit EVO
UniCredit EVO (Equity Venture Opportunities) is a joint investment venture launched in 2016 by UniCredit and Anthemis Group, a leading financial services technology venture and advisory firm. The aim of the partnership is to collaborate with emerging operators in the FinTech sector to explore, support and develop innovative technologies and solutions to be made available to our customers.
Meniga is a global leader in white-label digital banking solutions. Its award-winning products enable the world's largest financial institutions to dramatically improve their online and mobile digital environment, enriching the customer experience of over 50 million digital banking users across 23 countries. Meniga has developed a framework for next-generation digital banking around advanced data consolidation and enrichment, meaningful customer engagement and new revenue opportunities. Meniga's portfolio of products include personal finance management, automated real-time notifications, predictive analytics and personalized engagement technologies, card-linked offers and consumer data analytics. Meniga was awarded "Best of Show" at Finovate Europe, in 2011, 2013, and 2015, "Best Company" at European FinTech Awards 2017 and was featured on FinTech50 in 2014, 2016 and 2017. Meniga's offices are in London, Reykjavik, Stockholm and Warsaw.
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