- WKN: FTG111
- ISIN: DE000FTG1111
- Land: Deutschland
Nachricht vom 20.01.2016 | 09:10
FinTech Group AG subsidiary flatex cooperates with Deposit Solutions
DGAP-News: FinTech Group AG / Key word(s): Contract
- Overnight and fixed-term deposits of various banks are now available for 150,000 flatex customers
Frankfurt am Main, Germany - More than 150,000 customers of the online-broker flatex, a company of FinTech Group AG (WKN: 524 960, ISIN: DE0005249601, Ticker Symbol: FLA.GR), have now access a wide range of third-party overnight and fixed-term deposit products. Through a cooperation with Deposit Solutions, a fintech start-up backed among others by technology investor Peter Thiel, flatex customers can pick from deposit offers of various financial institutions and add them to their portfolio, just as they are accustomed to with any other security. For the first time, German retail investors now are able to trade financial securities and deposit products using the same current account.
By virtue of this cooperation, online-broker flatex is now the first and only online broker in Germany covering all key elements of a diversified portfolio strategy: a wide range of stocks, structured products, options, mutual funds as well as overnight and fixed-term deposits - and all that via one single account without the need to open various accounts at various banks.
"Once again, we are able to position flatex as the pacemaker and innovator in the online-brokerage business. At the same time, we are expanding the value chain and the offer for our customers", Frank Niehage, CEO of FinTech Group AG, said. "This is part of our efforts to enhance the passive side of our subsidiary biw AG, our full-service bank behind flatex. We expect these measures to make a contribution to our aim of reaching earnings before interest, taxes, depreciation and amortization of EUR 35m in 2016."
"We are the only provider in the overnight and fixed-term deposits market with a one-account-solution and hence the only platform as efficient and easy to use as an online broker. Through this cooperation we give flatex' customers access to our top yields", Dr. Tim Sievers, the founder and CEO of Ddeposit Ssolutions said.
About Deposit Solutions
Deposit Solutions is the single-account-solution for German savers. The savings-application is a trademark of the Deposit Solutions GmbH. The FinTech company has its headquarter in Hamburg and provides the first open architecture for daily call money and fixed term deposits in Europe. Since 2011 the company has already mediated deposits in excess of Euro 1 billion with its specialized b-to-b applications for savings and time deposits.
Its proprietary technology is unique in Europe and allows banks seeking retail funding to list their savings offers on an open architecture platform. Other banks on the platform can market those offers directly to their own clients who can use them without having to open a new account at another bank. In addition, the daily and fixed deposit rates of partner banks are marketed under the own retail service ZINSPILOT since 2014 directly to savers. Banks can be connected to the service platform ZINSPILOT or use white label applications for the integration of the open-architecture solution in its retail infrastructure.
About FinTech Group AG
FinTech Group AG (WKN: 524 960, ISIN: DE0005249601, Ticker Symbol: FLA:GR) is one of the most significant innovative financial technology companies in Germany. Our B2C brands service a total of 200,000 private clients, and with our B2B business we are important technology partners for German and international banks and financial institutions. As of the end of June 2015, FinTech Group AG had EUR 5.68 billion in assets under administration group-wide.
FinTech Group AG's goal is to become the leading European provider of innovative financial services technologies. Our earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to EUR 11.8 million in the first half of the year 2015.
Our wholly owned subsidiary flatex GmbH has been one of the innovation leaders in the German online brokerage market for years. Over 140,000 private clients both in Germany and internationally have chosen flatex' clear and transparent pricing model.
XCOM AG, in which we hold a majority interest, was founded in 1988 and is a German pioneer in the area of financial technology. Today, XCOM AG is one of the most successful software and technology providers for banks and financial institutions.
biw Bank für Investments und Wertpapiere AG, which is also owned by the Group, has a full-service banking license and is the backbone of our banking services. It also serves as outsourcing partner for other well-known banks ("white label banking services") and is one of the most modern online banks in Europe..
FinTech Group AG is also an important partner for many young fintech companies in the up-and-coming German start-up scene, who benefit from our innovative profile.
Head of Communications
FinTech Group AG
+49 (0) 69 450001 041
|Company:||FinTech Group AG|
|60327 Frankfurt am Main|
|Phone:||+49 (0) 69 450001 041|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market (Entry Standard) in Frankfurt|
|End of News||DGAP News Service|
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