Meniga signs partnership with Nexi Open

Tuesday 15 September 2020 14:14 CET | News

Nexi, the Italian PayTech in digital payments, has signed a partnership with Meniga, the fintech in the development of personal & business financial management solutions.

According to the agreement, Meniga is the first company to collaborate with Nexi to develop a portfolio of digital financial management services aimed at strengthening bank-customer relationships. Meniga joins Nexi Open: Nexi's partner banks will therefore be able 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.

Meniga’s PFM and BFM services can, at the discretion of each bank, be integrated directly into a bank’s digital properties (internet banking, mobile apps, etc) or delivered to the clients as standalone solutions.

Credit institutions will be able 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. 

Specifically, 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, to categorise income and expenses with specific financial items, to be promptly informed about any exceeding of their budget limits, thus promoting the definition of personal savings objectives. In addition, it allows you to top-up your account by debiting accounts held at other banks and more.

The BFM, on the other hand, 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. Moreover, the typical functionalities of a BFM represent a valid "digital CFO" for the bank's SME customers, thanks to the easy consultation of financial information, the simplification of operational and accounting activities, the advanced cashflow management, the possibility to manage budgets and savings and the accessibility to valuable insights.

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Keywords: Meniga, Nexi Open, personal financial management, transaction aggregation, Business Financial Manager, small businesses
Categories: Banking & Fintech
Countries: Italy
This article is part of category

Banking & Fintech