DGAP-News: Hypoport SE / Key word(s): Joint Venture/Product Launch
Establishment of joint venture
- Establishment of a joint venture to increase efficiency of personal loans sales at cooperative banks
- TeamBank, the cooperative financial network's personal loans expert, will provide the sales network and its product expertise
- Hypoport will supply the platform technology
- Pilot phase with first cooperative banks due to start at latest by the fourth quarter of 2021
The joint venture will enable participating cooperative banks to offer alternative products to their customers if no suitable easyCredit product is available. These alternative products may be from other cooperative banks or from financial institutions outside the cooperative banking sector. The pilot phase is starting with the first cooperative banks at latest by the fourth quarter of 2021 and is likely to continue until mid-2022.
Christian Polenz, Chief Customer Officer at TeamBank, says: "We are delighted that the joint venture with Hypoport will enable us to collaborate with our partner banks in the cooperative financial network even more effectively in future. Within the scope of our holistic approach to liquidity management, we are thus creating additional options for the cooperative banks' customers and providing them with an extremely attractive advisory experience at local level. At the same time, our partner banks can be sure of having valuable sales exposure. It is a real win-win situation."
Jens Fehlhauer, general representative of Hypoport SE with responsibility for the cooperative banking sector, adds: "I am delighted that, through GENOFLEX, we have taken another step in fulfilling customer needs for the cooperative financial network. I would like to say a special thank you to the entire project team. Designing such a platform completely remotely and getting it ready for the pilot stage in such a short space of time represents a fantastic and unique achievement by everyone involved."
Hypoport SE is headquartered in Lübeck (Germany) and is the parent company of the Hypoport Group. The Group is a network of technology companies for the credit, real-estate and insurance industries with a workforce of more than 2,200 employees. It is grouped into four segments: Credit Platform, Private Clients, Real Estate Platform and Insurance Platform.
The Credit Platform segment operates Europace, which is an online B2B financial marketplace and the largest German platform offering mortgages, building finance products and personal loans. A fully integrated system links more than 750 partners - banks, insurers and financial product distributors. Several thousand loan brokerage advisors execute more than 35,000 transactions per month on Europace, generating a volume of more than €8 billion. Besides Europace, the FINMAS and GENOPACE sub-marketplaces and the B2B distribution companies Qualitypool and Starpool support the growth of the credit platform. REM CAPITAL AG provides specialist advice on the arrangement of complex public-sector development loans for companies and financing for SMEs in Germany. At fundingport GmbH a corporate finance marketplace is being established.
The Private Clients segment, made up of the web-based, non-captive financial product distributor Dr. Klein Privatkunden and the consumer comparison portal Vergleich.de, brings together all business models aimed at directly advising consumers on mortgages, insurance or pension products.
All real estate-related activities of the Hypoport Group, with the exception of mortgage finance, are grouped together in the Real Estate Platform segment (previously Institutional Clients) with the aim of digitalising the sale, valuation, financing and management of properties.
The Insurance Platform segment operates SMART INSUR, a web-based B2B platform for advice, comparison of tariffs and the administration of insurance policies. The segment also incorporates the insurance unit of Qualitypool, a B2B distribution company as well as ePension, a digital platform for the administration of occupational pension schemes.
The shares of Hypoport SE are listed in the Prime Standard segment of the Frankfurt Stock Exchange (Deutsche Börse) and have been included in the SDAX since 2015.
Phone: +49 (0)30 / 42086 - 1942
29.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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