The new partnership between Minna Technologies and SpareBank1 enables SpareBank1’s customers to easily cancel their unwanted subscriptions.
Minna Technologies has entered into a partnership with the Norwegian banking alliance SpareBank 1 – the second-largest financial institution in Norway. As a result of the new partnership, SpareBank1’s customers will soon be able to cancel subscriptions directly from the bank’s mobile app – such as streaming services, gym memberships, mobile contracts, and more.
On average, Nordic consumers have between 8 and 12 subscriptions, and the vast majority of them find cancelling unwanted subscriptions difficult and time-consuming. In a recent survey conducted by Cicero Consulting, subscription management was the second most requested functionality among consumers. SpareBank1 has decided to address this highly-requested feature from its customers by partnering with Minna Technologies.
“We believe in open innovation and collaboration, and are confident that Minna Technologies will help increase value to our customers. We will continue innovating and introducing new features to our customers in order to make everyday finances easier to manage”, says Christian Fjestad, Head of Innovation in SpareBank 1 Østlandet.
The decision from SpareBank1 to focus on subscription management as a prioritized PFM feature has been celebrated by Minna Technologies.
“We are extremely proud to be partnering with SpareBank1. They are fast-moving, innovative, and similar to Minna Technologies in their ways of working, so we believe that we will create great value for Norwegian customers”, says Fredrik Norén, Country Manager at Minna Technologies.
In the first release, Minna Technologies service will be made available to customers of Sparebank 1 Østlandet, and customers of the remaining banks in the alliance will be able to access the service shortly after. Once the service is released, Minna Technologies and SpareBank 1 will continue to work together to explore additional innovation opportunities and the possibility of launching new features that will benefit Norwegian consumers.
“The partnership with Minna Technologies is a strategic decision. By combining our own efforts with the knowledge and good work of Minna Technologies, we allow our customers to regain control of their recurring costs as well as to save money. Minna Technologies is an expert within their field and used to working with banks, so we are confident that our partnership will be fruitful and beneficial for our customers”, says Thomas Allan Nygaard SpareBank 1 Utvikling (the SpareBank 1 alliance’s development company).
About Minna Technologies
Launched in 2016, Minna Technologies is a Swedish FinTech startup aiming to make subscription management easy. What began as a consumer app for subscription management (“Mina Tjänster”) has today become a bank integrated software – helping retail banks across Europe to dramatically improve their customer experience. Today, Minna Technologies is an FSA-regulated open banking partner to several top tier banks in Europe. The company’s award-winning subscription management products have saved more than €30M on behalf of its users. Read more at www.minnatechnologies.com.
About Sparebank 1
The SpareBank 1 alliance consists of 14 independent savings banks, who cooperate on branding and providing a joint platform. SpareBank 1 is Norway’s second-largest finance group in terms of assets.
The alliance was created in 1996 to strengthen each local bank’s competitiveness, profitability, and solvency, as well as to ensure each bank’s future independence and regional ties.