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New German digital bank Consors implements PFM technology from Meniga

18 December 2014  |  5485 views  |  0 Source: Meniga

Newly launched German bank Consors Bank (CB), born from France-based BNP Paribas’ German personal investment and online trading broker Cortal Consors SA, has entered the growing German retail-banking sector.

To secure the type of engagement any new digital proposition requires, CB has rolled out its own financial planner that puts control of consumers’ incoming and outgoing finances at their fingertips.

Across the border in France, sister bank Hello bank! has exceeded all expectations. Their German counterparts posed a key question: ‘How can I manage and grow my money quickly and easily?’ The answer was a new financial platform for Consors Bank customers, powered by Meniga.

Meniga and Crealogix worked jointly with Consors Bank to create a world-class digital bank where Meniga’s market-leading Personal Finance Management (PFM) Solution was combined with Crealogix’ digital banking portal. The result provides Consors Bank’s customers with a user experience that pushes the boundaries of digital banking engagement.

"If you know how much you spend each month on your car, food or lifestyle, and how much you will have left by the end of the month, it gives you better control over your daily money. But categorizing all transactions manually can be quite tiresome. Thanks to the categorization engine of Meniga, we were able to take away that inconvenient effort from our customers and thus provide the launching pad towards financial independence,” said Clemens Eckstein, senior expert for eBusiness with Consors.

Effortless, accurate automatic categorization at launch is essential to bringing PFM to consumers, and PFM in itself is the engine that enables the engagement this new digital proposition relies on.

The ethos behind Consors Bank is to provide a product that fits the lifestyles of people on the move, and their slogan ‘Mobile, just like you’ perfectly embodies all aspects of the new platform.

This is something that Meniga has been bringing to 25 banks around the world since 2009. The partnership with Consors Bank fits seamlessly within Meniga’s vision of building the future of banking by empowering a smarter consumer.

“Consors Bank is a shining example of a bank that understands that to thrive in a fast-changing world, they must embrace technology, user-centered design and new ways to become a trusted advisor in a much broader sense than most banks are today. It has been extremely rewarding to help realize this vision with Consors Bank,” said Georg Ludviksson, co-founder and CEO of Meniga.

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