The Meniga PFM Solution became an instant success in Iceland

- where it is used by over 5% of all households

Meniga went live in 2009 in partnership with Íslandsbanki, an Icelandic retail bank with 25% market share. PFM is highly relevant in Iceland as it is a country hit hard by the economic downturn.

“Offering the Meniga PFM Solution to our customers has been an unqualified success. Our customers love it and for the first time in years we are seeing significant increase in online banking registrations. Meniga has in a very short time become one of Íslandsbanki‘s most important strategic partners in retail banking.“
Vilhjalmur Alvar Halldorsson, Íslandsbanki‘s Executive Director of eBusiness Development

“Since we started we are, for the first time, equally focused on saving and it is going great. What once was a problem is now a fun exercise. When we get the weekly emails  about our economic situation, we encourage each other to keep up and do even better.”
Couple in their 50s

• Over 20% of the bank’s online users signed up within 6 months of launching.
• Over 75% of new users login again within 2 weeks and over 25% visit the site more than 5 times in the first month.
• 89% of users said they would recommend the Meniga PFM Solution to their friends.
• 88% of users say they will use the Meniga PFM Solution regularly in the future.
• 70% of users say their loyalty to the bank has increased as a result of the bank offering PFM.
• 41% say they have improved their financial behavior as a result of using the Meniga PFM Solution

Some of the Íslandsbanki's advertisements for the Icelandic market.