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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.

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