Santander has announced it is signing a broad global deal with Meniga which will see the company provide Personal Financial Management (PFM) tools to clients across multiple business lines and geographies. According to the deal, Santander will use a white label PFM platform to provide customers with customised, real-time actionable advice and targeted services.
In a statement, Jose María Fuster, head of global innovation at Grupo Santander said,
“This agreement is an important milestone in our journey towards truly personalised digital banking. We have been very impressed with Meniga’s technology and vision and I see this agreement as the first step in a long-term strategic partnership between the two companies.”
With banks looking to provide value added services, the deal with Meniga will provide Santander customers a rich and interactive PFM experience. While PFM alone might not be enough to keep customers satisfied, it can play an important role and help Santander learn more about their customers and deliver more relevant payment and banking products.
Overview by Tristan Hugo-Webb, Associate Director, Global Payments Advisory Service at Mercator Advisory Service
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