The fintech Bud selects to partner with Minna Technologies, a Swedish tech company, to provide banks with access to Minna’s subscription management tools through Bud’s Open Banking platform. The combined service will make use of Bud’s data intelligence capabilities to identify spending on subscription products like Netflix and Spotify and will allow users to manage (and cancel should they wish to,) those subscriptions from inside their primary bank apps.
Bud’s CEO, Ed Maslaveckas, commented: “We designed the platform to act as that intelligent system that can use transaction data to unlock valuable insights and highlight the next best step for customers to take. The partnership with Minna is a great example – our end goal is to enable our clients to help their customers improve financial wellbeing. We know that forgotten subscriptions are a significant cost for people and the partnership with Minna enables us to address that cost seamlessly, and at scale”
“The team at Minna shares our vision. Their subscription cancellation service, coupled with Bud’s other capabilities, like spending insights and smart nudges, means banks and other FIs can access the largest array of capabilities to power their next-generation mobile banking app from a single supplier.”
Joakim Sjöblom, CEO of Minna Technologies says: “Our partnership with Bud illustrates our continued drive toward collaboration with the market as we continue on our mission to help retail banks deliver powerful digital experiences within subscription management. Together with Bud, we can enrich banks’ toolset by helping them to reduce operational cost while also providing their end-customers with a digital-first experience, ultimately supporting better consumer financial health within the subscription economy. Steven Hoy, Head of Strategic Partnerships at Minna Technologies says: ‘Strategic partners like Bud help us to harness the power of open banking and accelerate the adoption of digital. This alignment of vision and values is key to success.”
About Bud: Founded in 2015 because we believed better finance makes for a better world, Bud empowers large institutions to better serve their customers. We do this by providing easy access to transaction data, then adding context and insights to it through our proprietary AI platform. Our APIs provide banks and other financial companies with the key capabilities they need in order to create meaningful new features for their customers. They provide access to financial data through Open Banking, understanding of that data through the industry’s most intelligent enrichment layer and the capacity to act on the insight using both a payments platform and an ecosystem of fintech products that are available to distribute through APIs.
Whether the platform is set to tackling the loyalty penalty by enabling our bank clients to build auto-switching services for people who are overpaying on utility bills, or helping people with thin credit files to get fair access to credit by sharing their history of making rent payments with CRAs, we are driven by a mission to make managing money simpler, wherever and however people want to do it.
Under a single contract, Bud provides open banking access, data intelligence, the capacity to distribute third-party products and the capability to make and receive payments, all from within our clients’ apps and services.
About Minna: Minna Technologies is a Swedish tech company established in 2016, on a mission to help retail banks deliver powerful digital experiences within subscription management. Partnering with top-tier banks across Europe and backed by some of the biggest financial companies in the world, currently, around 20 million people benefit from Minna’s subscription solutions. The team at Minna are passionate about building the next generation of financial products to make people’s lives better.