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.