DGAP-News: FinTech Group AG: 10,000 new customers decided for the zero-fee flatex trading offering in Holland in the first 8 weeks
DGAP-News: FinTech Group AG / Key word(s): Expansion/Market launch
Corporate News / Frankfurt/Main, August 8, 2019
FinTech Group AG: 10,000 new customers decided for the zero-fee flatex trading offering in Holland in the first 8 weeks
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"Our plans have definitely worked out. Over the last 12 years we have developed into a brokerage specialist, our customers in Holland have understood this and are trusting us. There is no real alternative on the market, in price or product offering. Almost 170,000 people have visited our flatex.nl platform and around 10,000 customers from Holland have already decided in favour of a flatex account. With 32,000 new flatex customers this year we have been able to win as many customers as in the whole of 2018. We are expecting to almost double the number of new customers this year. Our target of winning 60,000 new customers in 2019 remains in place." says Frank Niehage, CEO of FinTech Group AG.
flatex offers in Holland for the first time securities trading entirely for free. With the successful market entry, the online broker has been able to build a foundation for the planned pan-European internationalisation strategy and is now present in three different European countries (Germany, Holland, Austria). Until the end of 2020 at least three further countries will follow. In Spain, the online broker is ready for the launch and will enter the market with a zero-trading fee offer latest at the end of 2019.
"We will establish flatex as the pioneer for cost-free trading - with Holland we have demonstrated successful and profitable growth, now we are targeting Spain. With our highly efficient platform and the existing infrastructure "Made in Germany" we will accelerate our technological advantage and continue our growth in Europe. In the medium-term, for active traders in Europe there will be no way around flatex any longer." promises Muhamad Chahrour, CFO of FinTech Group AG.
Due to the positive developments and the successful market entry into Holland and despite the investments for the European expansion, the management already increased the EBITDA margin guidance for the financial year 2019 from 29% to 31% two weeks ago.
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 busi-nesses 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 consol-idation, 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.
08.08.2019 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|
|EQS News ID:||853997|
|End of News||DGAP News Service|
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