FELLOW FINANCE PLC FELLOW BANK PLC PRESS RELEASE
Fellow Bank Key Information in the beginning of operations
- Deposit customers: over 12 000
- Active borrower customers: over 33 000 customers
-
Deposits: over
230 million euro - Balance sheet total: over
280 million euros (unaudited estimate) - Personnel: 80 persons
The biggest shareholders of
Evli Plc : 17,5%Taaleri Plc : 17,5%TN Ventures Ltd (company owned by CEOTeemu Nyholm ): 6,3%
The following members have been selected to the Fellow Bank Board of Directors:
Building on year-long experience in deposit taking banking and lending
The core competences of the merging companies supplement each other: the solid lending experience and digital services development will be paired with the strong deposit banking and risk management.
From 2014 Fellow Finance credit underwriting processes have been utilized in issuing over 240 000 loans. Fellow Finance has intermediated financing worth of
The competencies of the companies merging into
First-class customer experience is the foundation of our business. We serve our customers in our digital channels: mobile bank and net bank and through the easy-to-reach personal customer service.
In the beginning we will offer financing services for SME companies and private persons as well as a savings account and a fixed term deposit product for customers looking for safe returns.
We will expand our service range gradually during 2022.
For private customers we will offer:
- Daily banking services including current accounts, payments, and invoice payment services
- Flexible financing for everyday needs in different forms: credit card, term loans, buy-now-pay-later products
- Savings accounts and fixed term deposit accounts
- Comprehensive tools for personal finance management
For our business customers we will offer comprehensive banking and financing services:
- Account and payment services
- Flexible funding in various forms
- Service integrations with accounting services
- Personal financial advisors supporting entrepreneurs
We will continue serving
This will create a solid foundation for collecting deposits also in the future.
The cornerstones of
First class customer experience
We serve our customers providing easy-to-use digital services connected with easily approachable personal customer service. We combine the strengths of both digital services with straightforward, easy-going, and professional customer service.
Focusing on selected customer segments and profitable product areas
We will focus on underserved customer segments:
- Private persons looking for flexible financing and easy-to-use everyday banking services
- SMEs in a need for flexible banking and financing services
- Savers looking for safe and competitive interest return
From the earnings perspective the banking products are attractive. This, combined with the previous experience from credit risk management and lower funding costs achieved with deposits enable us to pursue high profitability.
The strong deposit base of the bank and the strongly grown funding volume during the past year enable a fast start for banking operations. We aim at converting the existing crowdfunding and peer-to-peer loan portfolios into
Going forward, the existing, broad customer base and digital customer acquisition channels together with the enhanced profitability enables us to price our products more competitively and to invest in new customer acquisition and marketing.
High operational efficiency
We aim for high operational efficiency in our business by utilizing a digital operating model, modern IT-systems, and focused services together with a professional and efficient organisation.
A well-capitalized, Finnish, and responsible bank
We are a Finnish, well capitalized bank with committed and strong anchor owners. Responsibility is in the core of our credit issuing and we communicate clearly.
We will start offering
For further inquiries:
Fellow Finance in short
https://news.cision.com/fellow-pankki-oyj/r/fellow-bank-starts-operating,c3538875
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