Hypoport AG

EANS-News: Hypoport AG and Ostdeutscher Sparkassenverband are jointly establishing FINMAS, a new financial marketplace for savings banks

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Joint Ventures/Cooperation/Collaboration

Berlin, (euro adhoc) - 26 October 2009: Hypoport AG and the Ostdeutscher

Sparkassenverband (OSV) association of savings banks are to cooperate more
      closely in the areas of mortgage finance in future. The newly established
      FINMAS GmbH will offer members of the finance group of savings banks
      access to an exclusive financial marketplace. Members will not only gain
      additional distribution channels but will also benefit from Hypoport AG's
      leading technological infrastructure and expertise in process
      optimisation.

      Hypoport AG and Ostdeutscher Sparkassenverband founded the new company on
      26 October this year. The savings banks are already Germany's largest
      mortgage finance providers and intend to strengthen their leading position
      with this new joint venture. By turning to mortgage brokers and internet
      finance they will also widen previously less exploited distribution
      channels. In EUROPACE, Hypoport already operates Germany's largest B2B
      financial marketplace for mortgage brokers and banks. Last year, mortgages
      and personal loans totalling EUR14.6 billion were transacted over the
      EUROPACE platform.

      Wolfgang Zender, Managing Director of OSV, stressed that: "As market
      leaders we continually have try out new ways of offering our products to
      customers. We want to be flexible in responding to customer preferences,
      and FINMAS allows us to reach people who wish to inform themselves about
      our mortgage products from outside our branches."

      The online marketplace brings together a large number of product suppliers
      and distributors, while increasing the efficiency of property finance
      brokerage. FINMAS will operate using the leading-edge technology of the
      already well-established EUROPACE online B2B transaction platform. "We
      look forward to establishing the financial marketplace for savings banks
      jointly with OSV. This will lay the foundation for a successful
      partnership", commented Thomas Kretschmar, co-Chief Executive Officer and
      Chairman of the Management Board at Hypoport AG.

      The new business model allows the savings banks to offer their products
      via third-party distributors. Apart from providing access to its platform,
      the joint venture will also serve as an interface for the individual
      savings banks to coordinate their use of the new system and to liaise with
      the large number of partners involved. This link to the platform will
      automate and optimise existing processes and will enable distributors to
      quickly gain an overview of the available loan products even while they
      are advising customers.

      FINMAS will enable the 49 individual OSV savings banks to access
      strategically important finance markets. In addition to existing
      distribution channels the new business model will also open up new sales
      opportunities in the rapidly growing internet-based financial brokerage
      sector.

      Additional information on Hypoport (including its 2008 annual report) and
      the list of banks and financial service providers represented on the
      online platform can be found at www.hypoport.de.

      For further information on Ostdeutscher Sparkassenverband (OSV) please see 

www.osv-online.de.

Ende der Mitteilung                               euro adhoc
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Further inquiry note:

Michaela Reimann
Group Communications Manager
Telefon: +49 (0) 30 42086 1936
E-Mail: michaela.reimann@hypoport.de

Cosima Ningelgen
Press spokesperson
Tel.: +49 (0)30 2069-1818
E-Mail: cosima.ningelgen@osv-online.de

Branche: Financial & Business Services
ISIN: DE0005493365
WKN: 549336
Börsen: Frankfurt / regulated dealing/prime standard

Original-Content von: Hypoport AG, übermittelt durch news aktuell

Weitere Meldungen: Hypoport AG

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