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    ASE   PLASSEE00014

ASSECO SOUTH EASTERN EUROPE S.A.

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Asseco South Eastern Europe S A : ASEE Takes CEC Bank to Next Level in Open Banking

09/20/2021 EST

CEC Bank is the first bank in Romania to allow open banking to initiate payments, with the service being available in a first phase for clients with accounts at Banca Transilvania, Raiffeisen Bank and ING Romania, to which other banks will soon be added.

The new functionality was possible with the help of ASEE, the developer of the mobile banking application together with Finqware, a Romanian start-up specializing in integration applications and open banking.

This is the first implementation of such a functionality for ASEE in Romania, from the entire portfolio of internet and mobile banking solutions used by banking customers across the region. The project was an ambitious one and the results were delivered on time. It relied on the close collaboration between all the parties involved and ASEE found a strategic partner in CEC Bank in such a comprehensive innovation project. The integrated operation of customer banking is the beginning of a new type of financial services to be built using technology from banking applications.

CEC Bank's mobile banking application developed by ASEE registered a doubling of the number of users and a more than 110% increase in the number of transactions in 2020.

Disclaimer

Asseco South Eastern Europe SA published this content on 20 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2021 12:01:09 UTC.


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Financials
Sales 2021 1 153 M 284 M 284 M
Net income 2021 131 M 32,3 M 32,3 M
Net cash 2021 190 M 46,8 M 46,8 M
P/E ratio 2021 -
Yield 2021 2,10%
Capitalization 2 475 M 608 M 610 M
EV / Sales 2021 1,98x
EV / Sales 2022 1,80x
Nbr of Employees 3 220
Free-Float 49,1%
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Number of Analysts 3
Last Close Price 47,70 PLN
Average target price 45,70 PLN
Spread / Average Target -4,19%
Managers and Directors
Piotr Jelenski Chairman-Management Board
Michal Nitka Chief Financial Officer
Jozef Klein Chairman-Supervisory Board
Artur Kucharski Independent Member-Supervisory Board
Adam Maciej Pawlowicz Independent Member-Supervisory Board
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