Minna Technologies, a Swedish subscription management company, acts as a technology partner to financial institutions and subscription businesses, offering them the best-in-class subscription management facility. Its facility is available to millions of banking consumers across the UK, Australia, and the US.
Minna announced its expansion to support the FinTech ecosystem as the banking and subscription management industry seeks to manage the cost of living crisis in the UK. The announcement came at the Fintech Week London event, and Minna Technologies came forward to offer customers the ability to tackle subscription spending wherever they are managing their funds, expanding to PFMs, Wealthtech, and Neobanks, along with retail banks.
James Bryce Lind, Head of Strategic Development, Minna Technologies, stated, “Currently powering nine retail banks across Europe, including Lloyds, Halifax, and Bank of Scotland in the UK, Minna seeks to widen our support for consumers by empowering them to manage their subscriptions within their Fintech solutions as well. Today, 79% of UK consumers use FinTech apps for banking and to pay for goods and services, with 99% of Gen-Z and 98% of millennials using a mobile banking app for everyday banking. Consumers want transparency in their spending in a consolidated and holistic view, but moreover, they want the ability to take action within their banking app without having to pick up the phone. We are encouraged by the speed with which the FinTech ecosystem is moving to support UK households with choice and control to combat subscription fatigue, driving centralized and personalized offerings.”
Minna Technologies, powered by open banking, offers a hassle-free subscription management solution within FinTech and banking apps to help consumers accept discount offers, cancel unwanted subscriptions, or change payment details. These features help consumers personalize the mode of payment for services, subscription usage optimization, and drive more careful consumption habits.