DGAP-News
FinTech Group and Finotek engage in first German-Korean fintech joint venture
DGAP-News: FinTech Group AG / Key word(s): Joint Venture
FinTech Group and Finotek engage in first German-Korean fintech joint
venture
02.06.2016 / 20:54
The issuer is solely responsible for the content of this announcement.
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FinTech Group and Finotek engage in first German-Korean fintech joint
venture
02.06.2016 / 20:54
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Corporate News / Frankfurt am Main, 2 June 2016
FinTech Group and Finotek engage in first German-Korean fintech joint
venture
- FinTech Group and Finotek start cross-licensing of innovative
technology solutions
- FinTech Group contributes mobile-payment solution "kesh" to the joint
venture
- Finotek provides all-digital mobile-processed loan solutions and e-
verification technology
- Partnership boosts market access and technological capabilities on both
sides in Europe and Asia
Frankfurt, Germany - FinTech Group AG (WKN 524 960, ISIN: DE0005249601,
FLA.GR) and Finotek Inc. start cross-licensing innovative technology
solutions in the first European-Asian fintech joint venture. Today, FinTech
Group AG was invited by the Korean government to sign the joint venture in
the presence of Korea's president Park Geun-hye in Paris.
Under the framework of the joint venture, FinTech Group provides access to
its proprietary mobile-payment solution "kesh", a multi-facetted smartphone
wallet, which allows peer-to-peer, POS, and online-payments. The "Made in
Germany" solution is user friendly and has significant advantages in terms
of flexibility, data security, and regulation. It is planned to market the
solution under a white-label-agreement in Asia.
Finotek, a B2B-specialist with renowned Korean clients both public and
private, offers a number of all-digital mobile-powered solutions, which
will be leveraged to expand FinTech Group's product portfolio in the
European market. Finotek provides cutting-edge mobile banking solutions,
which allow for remote internet banking services with real-time ID
verification - a fully digital process without any media breaks. With
"SmarterSign" Finotek also developed a biometric authentication solution
for mobile-based e-signature verification and fraud prevention.
Additionally, Finotek provides a cloud-based, fully-mobile, and real-time
mortgage platform to complete a loan application in just 30 minutes.
"We are very proud to join forces with our partner Finotek and build a
bridge between two huge markets. This is the first German-Korean fintech
joint venture, allowing to jointly seize business opportunities which make
sense both technologically and commercially", comments Frank Niehage, CEO
of FinTech Group AG.
"We are proud that the joint venture with one of the leading German Fintech
companies, the FinTech Group AG, pushes the German-Korean relationship to
FinTech Group and Finotek engage in first German-Korean fintech joint
venture
- FinTech Group and Finotek start cross-licensing of innovative
technology solutions
- FinTech Group contributes mobile-payment solution "kesh" to the joint
venture
- Finotek provides all-digital mobile-processed loan solutions and e-
verification technology
- Partnership boosts market access and technological capabilities on both
sides in Europe and Asia
Frankfurt, Germany - FinTech Group AG (WKN 524 960, ISIN: DE0005249601,
FLA.GR) and Finotek Inc. start cross-licensing innovative technology
solutions in the first European-Asian fintech joint venture. Today, FinTech
Group AG was invited by the Korean government to sign the joint venture in
the presence of Korea's president Park Geun-hye in Paris.
Under the framework of the joint venture, FinTech Group provides access to
its proprietary mobile-payment solution "kesh", a multi-facetted smartphone
wallet, which allows peer-to-peer, POS, and online-payments. The "Made in
Germany" solution is user friendly and has significant advantages in terms
of flexibility, data security, and regulation. It is planned to market the
solution under a white-label-agreement in Asia.
Finotek, a B2B-specialist with renowned Korean clients both public and
private, offers a number of all-digital mobile-powered solutions, which
will be leveraged to expand FinTech Group's product portfolio in the
European market. Finotek provides cutting-edge mobile banking solutions,
which allow for remote internet banking services with real-time ID
verification - a fully digital process without any media breaks. With
"SmarterSign" Finotek also developed a biometric authentication solution
for mobile-based e-signature verification and fraud prevention.
Additionally, Finotek provides a cloud-based, fully-mobile, and real-time
mortgage platform to complete a loan application in just 30 minutes.
"We are very proud to join forces with our partner Finotek and build a
bridge between two huge markets. This is the first German-Korean fintech
joint venture, allowing to jointly seize business opportunities which make
sense both technologically and commercially", comments Frank Niehage, CEO
of FinTech Group AG.
"We are proud that the joint venture with one of the leading German Fintech
companies, the FinTech Group AG, pushes the German-Korean relationship to