DGAP-News

Ferratum Oyj: Ferratum Group launches strategic partnership with Thomas Cook Money

DGAP-News: Ferratum Oyj / Schlagwort(e): Kooperation Ferratum Oyj: Ferratum Group launches strategic partnership with Thomas Cook Money Money 13.12.2017 / 07:30 Für den Inhalt der Mitteilung ist der Emittent verantwortlich. Ferratum Group launches strategic partnership with Thomas Cook Money

- Powered by Ferratum's Banking-as-a-Service platform, Thomas Cook Money will offer the first ever mobile banking app designed for holidays, with Sweden as launch market

- Other markets, including the UK, to follow in 2018

Helsinki, 13 December 2017 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS) ("Ferratum"), is partnering with Thomas Cook Money, the newly launched financial services division of Thomas Cook Group plc, to introduce its first Banking-as-a-Service ("BaaS") venture.

Ferratum will provide Thomas Cook Money with a fully functional and regulated mobile consumer finance offering powered by Ferratum's highly successful and innovative mobile banking platform. Customers will experience the world's first mobile banking app designed for holidays through the newly established Thomas Cook Money brand "Sumo".

In the first wave of Sumo, available initially in Sweden, customers can quickly and easily set up a fee-free multi-currency account that comes with an intelligent contactless debit card. This can automatically identify the local currency, thus enabling them to pay at point of sale at home and overseas without incurring transaction charges and withdraw cash without incurring additional fees.

Sumo also has a range of regular and fixed-term savings accounts that will help people take a year-round approach to planning for their holiday, which remains one of the biggest annual household spends . With the in-built savings tool, customers can set up a weekly or monthly savings plan to reach their target goal.

In addition to the app's core features, Sumo customers will enjoy new services not previously seen in a mobile banking app. Customers can also click through to the Thomas Cook holiday booking engine to book their holiday.