Landsbankinn partners Meniga to launch open banking-powered PIS and AIS services
- Landsbankinn, Iceland’s largest bank, partners with UK-based Meniga for open banking services.
- Introduces Payment Initiation Services (PIS) and Aggregation Services (AIS) through the collaboration.
- AIS allows customers to view all accounts with major banks in Iceland via the bank’s app, streamlining financial management.
- PIS enables customers to transfer money and make payments between accounts at different banks.
- Landsbankinn claims to be the first bank in Iceland to offer such services, marking a significant breakthrough in open banking.
- The rollout is expected to bring increased competition, innovation, and customer choice in the Icelandic banking sector.
- CEO Lilja Björk Einarsdóttir emphasizes collaboration with Meniga as a step towards simplifying and enhancing the banking experience.
- Meniga, the digital banking tech provider, serves over 170 firms in 30+ countries, offering various solutions including personal finance management.
- Meniga’s CEO, Raj Soni, expresses the mission to assist banks in leveraging all aspects of open banking and finance, with a focus on payments.