(PRWEB) December 18, 2013
MyFinancialWellness includes a component: MyFintrack, which allows users to quickly aggregate information from their existing bank accounts and credit cards and presents them with a holistic view of their entire financial situation.
To offer this, first-of-its-kind functionality in South Africa Momentum chose Meniga, the European leader in Personal Finance Management (PFM) software, as its partner for this ambitious project. The easy-to-use online solution aims to help clients better understand their amalgamated and complete financial situation and thereafter guide them towards better financial decisions to ultimately improved holistic financial wellness. Meniga and Momentum have worked closely together to provide the South African market with a first rate and market-leading service. To show their commitment to improving financial wellness for all, Momentum offers MyFinancialWellness for free via http://www.momentum.co.za, irrespective if you are a client.
The majority of South Africans have been shown to have a poor track record of saving and prudent financial planning*. With easy insight, it is hoped that slight behaviour modifications or more mindful spending, can result in a more financially secure nation. To date a successful staff, pilot project has taken place and now the solution is being made available to all. Uptake has been brisk with over 6,000 unique users in less than 4 weeks.
"Meniga has been more than a mere provider of software to Momentum. During the past months we have worked together to develop and polish the service for the South African market. While we remained focused on the benefits to users, we also worked together to define and implement a viable business case to ensure the sustainability of the project. The Meniga team showed tremendous devotion to the project and were a valuable business partner for us, as well as a reliable provider of their software and services. We were truly impressed by their innovative, client-centric and entrepreneurial approach that resonated perfectly with our own business philosophy, even though the two companies are from different hemispheres," says Lee-Ann Du Toit, Head of Financial Wellness at Momentum.
"We are very excited to make our first foray into the highly competitive South African market with a top-tier company like Momentum. They have great ambition to offer South Africans a truly valuable service that can really help improve their financial well-being and we are proud to have been chosen to be a part of that noble mission," says Georg Ludviksson, CEO and Co-founder of Meniga.
Meniga is the European market leader of white-label Personal Finance Management (PFM) and next-generation online banking solutions. The Meniga PFM Solution was first launched in 2009 and has since been implemented by more than 15financial institutions in 11 countries, reaching well over 10 million online banking users. Meniga‘s PFM Solution has received multiple awards for innovation, such as „Best of Show“ at Finovate Europe in 2011 and 2013, and boasts market leading adoption and retention metrics.
Momentum is an integrated financial service provider, offering a variety of financial solutions to the South African market, on the African continent and to global investors. Momentum offers solutions and advice, on health, wealth, retirement, investment, employee benefits and long and short-term insurance.
Momentum’s purpose is to enhance the Financial Wellness of all South Africans; with the right plan in place, we want to empower families to become financially secure.http://www.momentum.co.za
Momentum is a member company of MMI Holdings Ltd, the third largest listed insurance company in South Africa. MMI Holdings is the merged entity of Momentum and Metropolitan and is listed on the Johannesburg Securities Exchange (JSE).http://www.mmiholdings.com