Spotify has music, Netflix has films, Instagram has photos but Banks have the transactions that make up our lives.
Meniga is helping banks worldwide enrich transaction data. Contextualising transactions is at the heart of what we do.
Three years ago we introduced the transaction detail screen, which provides a clear overview of expenses by category and by merchant when clicking a transaction. We created a new destination and habit for people to learn about their spending. It quickly became one of our most popular personal finance features - increasing the number of users clicking on a transaction from 3% to 45%. Now we are taking the concept to a completely new level by taking full advantage of Open Banking.
Enriching transactions with 3rd party data enables banks to provide their customers with a delightful user experience.
Many banks are having problems these days with the user experience in their online & mobile banks. Our experience shows that providing insights in context creates a more seamless user experience. One way to achieve this is to compliment transactions with 3rd party data. For instance, when customers click a transaction a bank could provide them with restaurant recommendations based on where people similar to them like to eat or detailed progress on their loan mortgages - everything in context with their personal finances.
The key drivers for successful customer engagement are to reduce friction, solve everyday problems and create new habits.
That’s why we created a new way for banks to think of customer transactions. Not as boring lines of text and code but as a story of people's daily lives full of interesting insights. Providing banking customers with insights and actionable content in context with their financial life through enriched transactions drives meaningful customer engagement. Recently we launched our new app in our native market where we redesigned and simplified the user experience which has increased daily engagement by 400%.