UniCredit has acquired a minority stake in personal financial management software house Meniga for EUR3.1 million.
The investment was made by UniCredit's venture investment vehicle EVO, a $200 million war chest set up in partnership with Anthemis in 2016 to find, fund and collaborate innovative fintech startups.
UniCredit says it plans initially to roll out the Meniga suite in Serbia and Italy, offering customers a consolidated view of all their cards and account transactions and functionality as well as targeted advice based on spending profiles.
The bank says it will apply Meniga's 'financial fitness' offering that uses gamification techniques and community-based challenges to help people reach their financial goals.
Founded in Iceland in 2009, Meniga plans to use the proceeds to strengthen product development and prepare for an anticipated pick-up in market demand as the new EU Payment Services Directive (PSD2) comes into force across Europe.