DGAP-News: FinTech Group AG / Key word(s): Strategic Company Decision/Market launch
Corporate News / Frankfurt/Main, 16 March 2019
FinTech Group becomes flatex
"Fintech is a generic trend and usually has to be explained. There is no legal definition. Over the past years, the company has benefitted from the fintech hype. In recent times however, the Group has been increasingly associated with corresponding negative fintech topics. The likelihood of confusion and potential wrong perception does not resonate at all with FinTech Group, a mature and highly profitable business and not a cash-burning start-up without track record. Those misleading associations may have a negative influence on the appreciation of the excellent state of FinTech Group, which was never in a better shape", explained Frank Niehage, CEO of FinTech Group AG. Preliminary figures of fiscal 2018 will be disclosed at the end of March.
The highly profitable B2C operation with its core brand flatex represents more than 75% of the revenue contribution of the Group. flatex is the strong and well-established brand name in the Group. For the last 12 years flatex has also been the key success driver leading to a dominant 50% market share position in Austria and over 20% in Germany. Preparations for market entry into The Netherlands in the second quarter are currently in full swing.
"In a first step FinTech Group Bank AG becomes flatex Bank AG. We are happy that the focused growth strategy will now be directly reflected in the corporate name of our bank. We will propose the renaming of the listed FinTech Group AG to flatex AG at the upcoming AGM in summer this year", underlined Muhamad Chahrour, CFO of FinTech Group AG, the signaling effect of the decision.
About FinTech Group AG
Many B2B customers, the state infrastructure and established financial services companies as well as disruptive business ideas benefit from FinTech Group's white label banking technology and become quickly successful businesses due to the self-developed core banking system (FTG:CBS) that belongs to the most modern and most modular systems in the market - the standard platform for private and specialist banks. In times of bank consolidation, low interest rates and digitalisation, FinTech Group is ideally positioned for further growth and well on its way to becoming Europe's leading provider of financial technology.
IR & Press
FinTech Group AG
Phone: +49 (0) 69 450001 1701
16.03.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||FinTech Group AG|
|60327 Frankfurt / Main|
|Phone:||+49 (0) 69 450001 0|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|