Meniga announced today that Promsvyazbank (PSB), a top 10 Russian Bank, has implemented the Meniga Personal Finance Management (PFM) Solution for all its online banking customers. The custom-built PFM-service has been specifically designed for the Russian market in a collaborative effort between Meniga and PSB. Among the key functionalities are: Automatic categorization of transactions, user-friendly visualizations of income and expenses, personalized budgets based on past behavior and budget notifications.
“We’ve launched the first comprehensive personal money management service in Russia. It demonstrates how serious we are about helping our customers become successful. At Promsvyazbank, we see our strong customer focus as an important competitive advantage and it drives everything we do. “, says Mr. Algirdas Shakmanas, Head of Retail Internet Banking at Promsvyazbank.
“Meniga has been a great partner for us. We are really happy that we are building PFM-service with a support of such a professional team. And we are looking forward to continue our partnership to make our PFM-service even better.”, he adds.
„Meniga’s sole focus is helping financial institutions dramatically improve the online and mobile banking user experience – and we are extremely proud to be part of the launch of the first real PFM service in Russia, in partnership with PSB. PFM is at the heart of next-generation online banking and other Russian banks are certain to follow in the footsteps of PSB that is now a clear leader in the market,” says Georg Ludviksson, CEO and Co-Founder of Meniga.
Meniga is the European market leader of white-label Personal Finance Management (PFM) and next-generation online banking solutions. The Meniga PFM Solution was first launched in 2009 and has since been implemented by more than 15 financial institutions in 11 countries, reaching well over 10 million online banking users. Meniga‘s PFM Solution has received multiple awards for innovation, such as „Best of Show“ at FinovateEurope in 2011 and 2013, and boasts market leading adoption and retention metrics.
Open Joint-Stock Company Promsvyazbank (PSB) is one of Russia’s leading privately owned banks. It is dedicated to the prosperity and wellbeing of its customers, employees, and shareholders. PSB has assets of 680 billion rubles, and capital 96 billion rubles as of 1 April 2013 according to IFRS, successfully operating since 1995. In terms of assets PSB ranked 10th among the largest Russian banks according to Interfax Information agency, as at 1 April 2013. In the current ranking of The Banker magazine PSB enters the 500 largest banks in the world in terms of equity.
Promsvyaz Capital B.V. owns 88.25% stake in the bank, 11.75% is owned by the European Bank for Reconstruction and Development.
PSB is a universal financial services provider engaged in commercial banking, retail banking, private banking, investment banking, and SME banking. As at 1 April 2013, PSB offered services to about 1.2 million retail and over 93,000 corporate clients. Since the opening of its first branch in 1996, PSB has been consistently expanding its regional footprint. Today, PSB branches operate in all economically developed regions of Russia, and a relatively dense network covers Moscow and the Moscow region. As at 1 April 2013, PSB domestic network consisted of about 302 points of sale in more than 90 communities across Russia. PSB also has an office in Cyprus, and representative offices in China, India, Ukraine, and Kazakhstan.