DGAP-News: FinTech Group AG: German online broker flatex attacks Dutch market - with zero fees and unique product offering
DGAP-News: FinTech Group AG / Key word(s): Market launch/Product Launch
Corporate News / Frankfurt/Main, June 18, 2019
German online broker flatex attacks Dutch market - with zero fees and unique product offering
Passende neue Barrier Reverse Convertibles
- Trading shares, turbos and certificates as well as ETFs free of charge on flatex.nl
- Existing platform structure enables highly efficient market entry
- More than 60,000 new B2C customers expected in 2019
Frankfurt am Main - FinTech Group AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) celebrates the market launch of its popular online broker flatex in the Netherlands. flatex thus lays an important foundation for the envisaged pan-European internationalization strategy and is now represented in three European countries. At least three more countries are to follow within the next 18 months.
"Within six months, we have set up a fully-fledged business model - for significantly less than half a million euros. Our unique selling points, the 'Zero-Fee Offering' and the exceptional product offering, are free, however exceptional marketing instruments. Thus, we expect our marketing expenses to stay significantly within reasonable bounds. While other banks justify the lack of profitability with their IT and marketing investments, we will focus on profitability from day one. Our declared goal remains: Increase the number of transactions, utilize our existing capacities and reduce the cost per trade", explains Frank Niehage, CEO of FinTech Group AG.
Already two weeks ago, the management decided to raise the EBITDA margin target to 29% due to the significantly lower investments. Depending on the success in the Netherlands, the Management Board is expecting further margin adjustments for the coming months.
"We have bundled our knowledge from the last 12 years, looked at what the Dutch customer expects and are now launching the best flatex platform ever. While our competitors are luring customers with bait advertising and at the same time are continuously increasing their prices, we will be the first and only broker in the Netherlands to offer our customers a unique product range at zero trading costs - with no ifs and buts, without asterisks or other disclaimers. This is the beginning of our journey of developing the European version of Robinhood - Made in Germany," says Muhamad Chahrour, CFO of FinTech Group AG, in a very positive mood.
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.
18.06.2019 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:||826093|
|End of News||DGAP News Service|
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