- ISIN DE000A2G8332
- Country Deutschland
niiio finance group AG
niiio finance group AG: niiio finance group AG and TV Development GmbH sign letter of intent to establish a cooperative banking-as-a-service joint venture
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EQS-News: niiio finance group AG
/ Key word(s): Letter of Intent/Joint Venture
Press release niiio finance group AG and TV Development GmbH sign letter of intent to establish a cooperative banking-as-a-service joint venture
Until now, many banks have relied on monolithic systems and manual workflows, limiting the possibilities of their banking-as-a-service clients. The fundamental change in the financial services industry due to advancing digitalisation is thus presenting them with major problems. In order to meet the future requirements of digitised banking, traditional banks will have to reinvent themselves. The planned “Next Generation Platform” by niiio, PATRONAS and TVD is intended to facilitate this change for banks and financial partners and, as a complete solution, to increase their efficiency and the scalability of their processes, while also reducing their costs. In addition, the platform should enable better and faster adaptation to new requirements. Outsourcing is made much easier for the financial partners if the platform is developed and operated by a full-service bank under BaFin requirements in accordance with BAIT and ISO 27001. The niiio finance group AG and TVD plan to implement the joint venture via a company that has still to be founded (“NewCo”), in which both parties will participate. NewCo will develop the necessary software, and TVD is also to be available as the first reference customer for NewCo. On the occasion of the joint venture, it is intended that niiio will contribute software solutions, while TVD will offer its banking-as-a-service services. In the process, niiio is to hold a consolidable majority in the joint venture. The offering is to be provided as an API system, enabling trading in all asset classes and providing clients with a complete offering through a single point of access. Johann Horch, CEO of niiio finance group AG: “For niiio, the cooperation with TVD is the only consistent strategy to move into new business areas and to further advance our front-to-back strategy. With TVD, we want to reshape the future of asset management for our customers. In doing so, TVD’s intelligent API gateway for modern asset management and banking perfectly complements our many years of experience in developing innovative and custom-fit software solutions for asset and wealth management in the financial industry.” The Letter of Intent does not yet contain any contractually binding obligations. However, both parties are aiming for a timely, legally binding agreement to implement the joint venture in accordance with the signed Letter of Intent. Contact: cometis AG Ruben Rauber Tel: +49 (611) 205855-64 E-Mail: rauber@cometis.de About niiio finance group AG: niiio finance group AG (niiio) is creating a scalable pan-European WealthTech platform by bundling technological innovations in order to enable asset and wealth managers to digitalise their processes and optimally serve their clients. niiio is a Software-as-a-Service (SaaS) provider for asset and wealth management. As a “one-stop shop”, the company digitalises the processes of its more than 80 European customers so that they can work efficiently, flexibly and on a legally compliant basis. niiio’s vision is the cost-effective digital issuance, custody, management and subsequent trading of securities based on DLT – and, as a consequence, decentralised settlement based on blockchain technology. Disclaimer: This release contains statements about the future development of the niiio Group. These forward-looking statements are based on the Management Board’s current expectations, assumptions and forecasts, as well as the information currently available to the Management Board. They have been compiled to the best of the Management Board’s knowledge. As far as such forward-looking statements are concerned, no guarantee can be given and no liability can be assumed that the future developments and results mentioned will occur as presented. Rather, future developments and results depend on various factors. They entail risks and uncertainties that lie beyond the Company’s control and are based on assumptions that may not prove to be accurate. Notwithstanding any legal requirements to revise forecasts, we do not assume any obligation to update the forward-looking statements made in this release.
13.04.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG. |
| Language: | English |
| Company: | niiio finance group AG |
| Elisabethstraße 42/43 | |
| 02826 Görlitz | |
| Germany | |
| Phone: | +49(0)611 – 205855-64 |
| Fax: | +49(0)611 – 205855-66 |
| E-mail: | ir@niiio.finance |
| Internet: | www.niiio.finance |
| ISIN: | DE000A2G8332 |
| WKN: | A2G833 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1606365 |
| End of News | EQS News Service |
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