FinTech Group wins major B2B client with Kommunalkredit Austria

Original Post Source

https://www.google.com/alerts/feeds/13308562500813251370/2570526493585772482

27.09.2017 / 12:16
The issuer is solely responsible for the content of this announcement.

Corporate News / Frankfurt am Main, 27 September 2017
 

FinTech Group wins major B2B client with Kommunalkredit Austria


  • FinTech Group AG and Kommunalkredit Austria AG enter into a 5-year service contract for new B2C deposit business
  • FinTech Group provides a fully digital banking platform
  • New deposit platform KOMMUNALKREDIT INVEST offers retail investors the opportunity to support key infrastructure projects

?

Vienna/Frankfurt – FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) has won Kommunalkredit Austria AG as a new major B2B client, both sides announced today. FinTech Group cooperated closely with Kommunalkredit to launch a comprehensive and fully digital platform for KOMMUNALKREDIT INVEST, a new deposit offering tailored to retail customers, in a matter of just a few months. Initially, KOMMUNALKREDIT INVEST will be offered to B2C customers in Austria. An expansion to the German market is also planned.

Kommunalkredit is a specialist bank for infrastructure financing based in Vienna, with a branch office in Frankfurt am Main. Its new online offering KOMMUNALKREDIT INVEST targets retail investors, who want to deposit their savings at attractive conditions. Their funds will be used to support key infrastructure investments made by Kommunalkredit such as schools, hospitals, care homes, wind farms, solar energy installations, waste-to-energy facilities, and transport projects.

FinTech Group provides a broad range of fully digital solutions and interfaces for KOMMUNALKREDIT INVEST: they include frontend processes such as online account openings, e-banking, and identification solutions such as video identification, e-signature and mTAN. On the backend side, FinTech Group will also run a data warehouse and carry out compliance monitoring as well as regulatory reporting.

“We have decided in favor of FinTech Group because they have long-standing experience in business process outsourcing. It allows us to launch KOMMUNALKREDIT INVEST into the market quickly by forgoing long development periods and to offer our customers fully digital and progressive solutions, which the retail customers of today expect to have,” says Alois Steinbichler, Chairman of the Executive Board of Kommunalkredit Austria AG.

“Technology accelerates change in the financial industry: we are pleased that we can prove this together with Kommunalkredit by launching this very attractive B2C offering on the basis of our modular banking platform. We have won a new major customer. On top of that, we can also help in the financing of communal infrastructure projects in Europe, which everyone will benefit from,” says Frank Niehage, CEO of FinTech Group AG.

About FinTech Group AG

FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) is a modern smart bank: We offer innovative financial technology, our own core banking system, and a regulatory liability umbrella.

Our cash cow is retail broker flatex which, through our advanced technology, can offer top-quality service at an affordable price. This makes flatex one of the fastest growing trading platforms in Europe.

Our smart technology is easy to scale, so we also successfully offer it to B2B customers. We provide vital services for many well-known institutions and even state infrastructure. We help start-ups and disruptive business ideas that require a banking license to rapidly become a success through our white label banking.

In a time of bank consolidation, low interest rates, and digitization we are ideally positioned for further growth.

Our goal is to become Europe’s leading provider of financial technology.

Disclaimer

This release may contain forward-looking statements and information, which may be identified by formulations using terms such as “expects”, “aims”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates” or “will”. Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to variety of risks and uncertainties. The results actually achieved by FinTech Group AG may substantially differ from these forward-looking statements. FinTech Group assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those anticipated.

Contact:
Roman Kessler
Head of Communications
FinTech Group AG
Rotfeder-Ring 5
D-60327 Frankfurt/Main
+49 (0) 69 450001 041
Roman.kessler@fintechgroup.com

27.09.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Leave a Reply

Your email address will not be published. Required fields are marked *