Minna Technologies has partnered with Steven to provide subscription management services within its financial health app.
The banking app’s integration of the Swedish fintech’s embedded subscription infrastructure will allow its users to identify and better manage their subscription-based costs, including the ability to cancel and manage recurring expenses directly from the app.
As the inflation cost of living hits the highest levels seen in 40 years, households are desperately seeking ways to better manage their outgoings.
The app offers a solution in this way, allowing users to split costs and maintain coverage of their recurring expenses. Connect to 2,500 banks across Europe through open banking, just last month, the app had nearly 140,000 expenses created and debts settled for more than €1.6million.
The Steven app, whose community has grown over 33 per cent this year and whose growth is on track to double in 2022 to over 250,000, has reported that 8,500 groups were created last month alone.
Minna’s integration into the app environment helps consumers to manage their subscriptions where they are already managing their overall financial health.
“Through partnerships like our work with Minna, we can ensure Steven users have a comprehensive set of tools within the app and that they are served with all of their expense management needs. Minna is a natural partner in supporting the increasing trend toward subscriptions,” said the app’s CEO Andreas Arledal.
“Our goal is to make it easy to identify, control and distribute subscription spending across a group of people hoping to collectively manage their costs. We want to give consumers control through actionable insights and to do it in a way that reflects how people are living and paying for things, making it easy to split and share expenses easily and transparently.”
“Our mission is to help create a problem-free subscription economy which empowers consumers to take control of their expenditure, which is particularly relevant with the rising cost of living,” added James Bryce-Lind, Minna’s head of strategic development. “Together with Steven we are meeting consumers’ relevant needs by offering a solution that helps Stevens users manage their finances better.”