DGAP-News
FinTech Group AG: FinTech Group and Commerzbank form long-term strategic CFD partnership - Seite 2
most active distribution partners for Commerzbank's structured product
business. Now we can lead this partnership into a new dimension. We are
excited to continue developing the CFD business together with Commerzbank
and to focus on generating new clients via flatex" says FinTech Group Chief
Executive Officer Frank Niehage. "Our transition to become Europe's leading
infrastructure provider and operator for financial services technologies is
in full swing. The partnership with Commerzbank provides further fuel in
the form of liquidity, freeing up regulatory capital and - most importantly
- state of the art solutions for our customers. For our shareholders this
transaction means reduced risk as well as higher and more predictable
earnings."
Mario Furlan, Head of Retail CFD's at Commerzbank, comments: "We are very
pleased about the partnership with FinTech Group. Combining our excellence
in risk management and execution of CFD transactions and FinTech Group's
strength and innovation in the retail market with its subsidiary flatex
makes a lot of sense and will beneficial to both partners."
About FinTech Group
FinTech Group AG is one of Europe's leading financial services technology
companies with two pillars: online retail banking and brokerage business
under own brands (B2C); and white label banking business for third parties
(B2B).
In the B2C segment, the business's core brand is FLATEX with approximately
150,000 private clients and assets under administration of approximately
EUR4.8bn. The B2B business comprises XCOM Group (www.xcom.de), one of the
most successful providers of software and technology solutions for banks
and financial services companies in Europe, with more than 250 clients. The
XCOM subsidiary BIW Bank (www.biw-bank.de) is licensed by the German BaFin
to provide the full range of banking services and is affiliated to the
Deposit Insurance Fund (Einlagensicherungsfonds) of the Bundesverband
deutscher Banken e.V. (Federal Association of German Banks). For more than
20 years, XCOM Group has been one of the most important technology and
outsourcing partners of the German banking industry and today is also one
of the most successful partners of Germany's rising fintech industry.
www.fintechgroup.com
Disclaimer:
This release may contain forward-looking statements and information which
FinTech Group AG is one of Europe's leading financial services technology
companies with two pillars: online retail banking and brokerage business
under own brands (B2C); and white label banking business for third parties
(B2B).
In the B2C segment, the business's core brand is FLATEX with approximately
150,000 private clients and assets under administration of approximately
EUR4.8bn. The B2B business comprises XCOM Group (www.xcom.de), one of the
most successful providers of software and technology solutions for banks
and financial services companies in Europe, with more than 250 clients. The
XCOM subsidiary BIW Bank (www.biw-bank.de) is licensed by the German BaFin
to provide the full range of banking services and is affiliated to the
Deposit Insurance Fund (Einlagensicherungsfonds) of the Bundesverband
deutscher Banken e.V. (Federal Association of German Banks). For more than
20 years, XCOM Group has been one of the most important technology and
outsourcing partners of the German banking industry and today is also one
of the most successful partners of Germany's rising fintech industry.
www.fintechgroup.com
Disclaimer:
This release may contain forward-looking statements and information which