UK-based digital banking provider Meniga has been registered as an Account Information Service Provider by the Financial Conduct Authority in the UK.
This underlines Meniga’s credentials as experts in Open Banking, enabling it to expand its product offer to customers beyond the financial services sector. In the Nordics, Meniga already has 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.
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