Minna Technologies powers subscription services at Banco Sabadell and ING
Banco Sabadell and ING have launched new subscription management services powered by Swedish fintech Minna Technologies.
Minna has deployed at a handful of European banks
Sabadell claims its deployment of the Minna platform through its InnoCells hub is the first of its kind in Spain. 5,500 initial customers are testing the tool in Spain.
ING has launched OneView, a bolt-on service to its existing mobile banking application. The Dutch bank’s launch comes after a trial period in Belgium involving 100,000 customers.
ING found that one in ten customers used the service to cancel an ongoing subscription. It says users saved an average of €400 per year through the service.
Minna’s subscription management service provides “a complete picture” of all subscriptions and bills paid by direct debit.
Users can also receive alerts of changes in their subscriptions, so they can cancel unwanted subscriptions “with just one click”.
“With the growing popularity of subscription services, we launched this service to respond to the desire of our clients,” says Sabadell InnoCells’ director of digital strategy, Denis Nakagaki.
“This is a clear example of the collaborations with fintech that we intend to promote on a large scale.”
ING has also integrated OneView with its new Switch service in Belgium, which allows customers to compare and change energy suppliers.
“The entire process, from comparing different suppliers to actually switching to a better alternative, is done via the ING Banking app,” says Sali Salieski, ING Belgium’s head of retail.
Funding & innovation
ING Belgium partnered Minna Technologies as a follow-up to the latter’s participation in ING’s Belgian innovation programme.
Minna Technologies raised €15.5 million at the start of the year, in a Series B funding round featuring Element Ventures, Nineyards Equity, and Visa.
The vendor says its offering “dramatically improves the digital banking experience and customer engagement for 20 million users”.
Among its customers are Lloyds Banking Group, Swedbank, SpareBank 1, and OP Financial Group.
Related: ING-backed Countingup lands £9.1m Series A with help of new investor Sage
