EU Sovereignty Score
Non-EU vendorFintech & NeobanksHeadquarters: GB

Meniga: sovereignty score and 8 European alternatives

Meniga is a software company that supplies banks with a platform and APIs for personalised banking. Its products use consolidated and enriched transaction data for customer analytics, personal financial management and digital engagement, and are delivered to banks as modular solutions. Meniga was founded in Reykjavík in 2009. According to Wikipedia, London is now its headquarters, with further offices in Reykjavík and Warsaw, and the company also offers a consumer finance app in Iceland.

The company named as controller is Meniga Limited, incorporated in England and Wales with its registered office in London, so the operator sits outside the EU. Its privacy policy states that personal data is stored and processed within the EU/EEA and the United Kingdom, and that transfers outside the EEA rely on protective measures that are not specified. The sources consulted do not confirm the ownership. For a European bank the questions are the UK jurisdiction after Brexit and how far storage in the EEA is guaranteed, which the policy describes only in general terms.

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Sovereignty score
42 / 1000 = high exposure
100 = sovereign
  • Jurisdiction SOV-250
    Headquartered outside the EU (GB)
  • Data residency SOV-350
    Hosting inside and outside Europe (EU, OTHER)
  • Cryptographic key sovereignty SOV-340
    Key management with a non-European vendor
  • Freedom from lock-in SOV-640
    Closed source: switching requires data migration
  • Source & runtime sovereignty SOV-4 · SOV-630
    Closed source, runtime with the vendor

SOV codes: the matching objective in the European Commission's Cloud Sovereignty Framework. Official source

How the score is calculated

Facts and evidence

Last checked October 10, 2026
HeadquartersGB (OTHER)Verified by hand
EU adequacy decisionYes — found adequate by the European CommissionVerified by hand
Sovereignty modelVendor-hosted (non-EU)Verified by hand
Data hostingEU, OTHERVerified by hand
Open-sourceNoVerified by hand
GDPR-compliantYesVendor-stated
CategoryFintech & Neobanks
TypeProduct
Websitemeniga.com ↗

How we verify · Something wrong? Suggest a correction

Top EU-based & GDPR-compliant alternatives to Meniga

The European alternatives to Meniga come from our knowledge base of over 6,800 vendors. We only list vendors headquartered in the EU or the EEA; fully European-owned vendors rank before vendors with a foreign owner. For each alternative you see the country, the open-source status and a short description.

Score per alternative: 0 = high exposure, 100 = sovereign

116 European Fintech & Neobanks vendors are in the catalogue. View the whole category · Submit an alternative · View category on the map

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Why digital sovereignty matters with Meniga

Meniga is headquartered in GB, outside the EU. Contracts and data therefore also fall under non-European law. The GDPR applies through contractual terms, but in a conflict with local legislation you have less certainty than with a European vendor.

Meniga hosts data in EU, OTHER. Exactly what stays within the EU — and what does not — is defined by the vendor's data processing agreement and sub-processor list, not by a setting you control yourself; check those documents for the precise scope, including backups, logs and support access.

Meniga is closed source and hosted by the vendor. The encryption keys and the runtime sit with the vendor and switching requires data migration. Ask about bring-your-own-key, export options and open standards.

What this means for your organisation depends on your whole stack and context. The free assessment weighs Meniga together with your other vendors and gives a total score, a heatmap and the main risk drivers.

Frequently asked questions

What is the best European alternative to Meniga?

It depends on your use case. Strong EU alternatives to Meniga include 1822direkt, ActivoBank and Air Bank. On this page you can compare 8 EU alternatives by jurisdiction, data residency and open-source status.

Are there open-source alternatives to Meniga?

Our list of EU alternatives to Meniga is mostly commercial options. Browse the category on the map for open-source choices.

Is Meniga GDPR-compliant and where is the data hosted?

Meniga is headquartered in GB (OTHER) and hosts data in EU, OTHER. The vendor states it is GDPR-compliant, but the data falls under non-EU jurisdiction. For full EU data residency the EU alternatives on this page usually offer more certainty.

Details and sources

Verified by handHeadquarters, owner, hosting locations and licence have been checked by us against public sources. Free of charge and for every vendor, not a paid label. Nothing in this knowledge base is taken over automatically. Last checked on October 10, 2026.

Sources

Public sources used in the latest check of this record.

Compliance evidence

The links below point to the vendor's own public documents. We only record what we found: a missing link means "not found publicly", not "not compliant".

No public compliance evidence has been recorded for this vendor yet. Do you know its DPA or subprocessor list? Something wrong? Suggest a correction

Digital sovereignty in Fintech & Neobanks

Fintech & Neobanks: Digital banks, neobanks, money transfers and fintech services. In this category the choice of vendor determines who has legal access to your data, where that data lives and how easily you can switch later.

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8 European alternatives to Meniga — GDPR-compliant & EU-hosted · EU Sovereignty Score