Corporate News / Frankfurt/Main, January 2^nd, 2019

FinTech Group secures EUR 20 million contract with Vall Banc


Frankfurt/Main - Growth through economies of scale and internationalisation is what FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) is aiming for in the B2C as well as in the B2B business. Together with FinTech Group the Andorran Vall Banc is preparing first steps to outsource the data centres to FinTech Group. Additionally the leading-edge standard platform for private and specialist banks (FTG:CBS) will be implemented as Software as a Service (SaaS) at the private cloud of FinTech Group. The unlimited contract starts with a minimum period of five years.

In close cooperation with the Andorran Regulatory Bodies Vall Banc is in preparation to implement all modules of FinTech Group's state-of-the-art IT platform to digitalise its retail and private banking business. The possibility to connect to the existing FTG:CBS platform with diverse Shared Services is shortcutting development periods. This form of hybrid banking allows Vall Banc to quickly offer fully digitalised and modern banking solutions to their clients, online as well as offline, while substantially reducing IT and processing costs. Besides multi-language frontend processes such as online account opening, ebanking, and digital loan modules, SEPA as well as securities transaction systems will be installed.

"The state-of-the-art architecture of FinTech Group's standard platform featuring technological and banking process solutions offers the buildup and extension of our ecosystem especially in cooperation with our wealth management and our easy banking architecture", welcomed Michael Christner, CEO of Vall Banc SAU, the modular construction of this modern core banking system.

FinTech Group will implement the complete universal banking procedure including accounting system, regulatory reporting, data warehouse, payment transactions, loan book and securities transaction system. First modules of the standard platform will be up and running mid of 2019. The complete deployment of the FTG:CBS core banking system will be finalised in 2020. The total volume of the contract equals at least EUR 20 million in the first five years.

"Vall Banc's order to establish a hybrid bank has proven again our competencies to unify innovative and regulatory demands in our standard core banking system for private and specialist banks", underlined Frank Niehage, CEO of FinTech Group AG, the challenges of this contract.

 

About FinTech Group AG

FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates with flatex one of the leading and fastest growing online brokerage businesses in Europe. Executing more than 12 million customer's securities transactions paperless per annum. Offering their more than 280,000 own B2C customers top services at a competitive pricing based on their modern, self-developed state-of-the-art technology.

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 digitisation, FinTech Group is ideally positioned for further growth and well on its way to becoming Europe's leading provider of financial technology.

Disclaimer

This release may contain forward-looking statements and information, which may be identified by formulations using terms such as "expects", "aims", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or "will". Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to variety of risks and uncertainties. The results actually achieved by FinTech Group AG may substantially differ from these forward-looking statements. FinTech Group assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those anticipated.

Contact:
Joerg Peters
IR & Press

FinTech Group AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main

+49 69 450001 1701
[email protected]