06/29/2017 | Press release | Distributed by Public on 06/29/2017 03:42
Helsinki, June 29, 2017 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS) ("Ferratum"), is pleased to announce the launch of its Mobile Bank in France and Spain, two of Europe's largest retail banking markets. Ferratum started its operations in Spain in 2008 and has since introduced both the Microloan and Credit Limit products, which both have enjoyed rapid growth. Ferratum has with the Microloan product had a presence in France since 2015.
The introduction of Ferratum's Mobile Bank in these two markets brings the total number of countries where the Mobile Bank is currently available to five, following its launch in Germany, Sweden and Norway in 2016. At the end of March 2017, customer deposits had reached 118.8 million Euros.
Ferratum's Mobile Bank is a revolutionary platform that assembles customers' full financial lives in one app. Users can access their current accounts, savings, debit cards and other services in real time in an easy, secure and mobile manner, regardless of the place or currency.
Ferratum Group founder and CEO, Jorma Jokela, commented:
"I am delighted to introduce our Mobile Bank to the French and Spanish markets, which build on our rapid success and growth in these markets and progresses our plan to launch the Mobile Bank across several key European markets during 2017 and 2018. Our mobile banking platform is rapidly evolving in sophistication: not only does the Mobile Bank combine Ferratum products and services within a single app, but we look forward to announcing new partnerships with third parties in the future that will add exciting new functionalities and services to the platform".
Ferratum is an international provider of consumer and small business loans, distributed and managed by mobile devices. Founded in 2005 and headquartered in Helsinki, Finland, Ferratum is a pioneer in the fields of financial technology and mobile lending and has expanded rapidly to operate in 24 countries. Ferratum's customers utilize digital media to apply for consumer credit in amounts varying between EUR 25 and EUR 20,000 and small businesses instalment loans up to EUR 100,000 with a term of six to twelve months. Led by its founder, Jorma Jokela, Ferratum has more than 1.6 million active and former customers who have been granted one or more loans in the past (as at March 31, 2017).
Ferratum Group is listed on the Prime Standard of Frankfurt Stock Exchange under symbol 'FRU.' For more
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