Ferratum Oyj: Ferratum Group launches strategic partnership with Thomas Cook Money

    Ferratum Oyj: Ferratum Group launches strategic partnership with Thomas Cook Money

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DGAP-News: Ferratum Oyj / Schlagwort(e): Kooperation
Ferratum Oyj: Ferratum Group launches strategic partnership with Thomas Cook
Money

13.12.2017 / 07:30
Für den Inhalt der Mitteilung ist der Emittent verantwortlich.

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Ferratum Group launches strategic partnership with Thomas Cook Money

- Powered by Ferratum's Banking-as-a-Service platform, Thomas Cook Money
will offer the first ever mobile banking app designed for holidays, with
Sweden as launch market

- Other markets, including the UK, to follow in 2018

Helsinki, 13 December 2017 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS)
("Ferratum"), is partnering with Thomas Cook Money, the newly launched
financial services division of Thomas Cook Group plc, to introduce its first
Banking-as-a-Service ("BaaS") venture.

Ferratum will provide Thomas Cook Money with a fully functional and
regulated mobile consumer finance offering powered by Ferratum's highly
successful and innovative mobile banking platform. Customers will experience
the world's first mobile banking app designed for holidays through the newly
established Thomas Cook Money brand "Sumo".

In the first wave of Sumo, available initially in Sweden, customers can
quickly and easily set up a fee-free multi-currency account that comes with
an intelligent contactless debit card. This can automatically identify the
local currency, thus enabling them to pay at point of sale at home and
overseas without incurring transaction charges and withdraw cash without
incurring additional fees.

Sumo also has a range of regular and fixed-term savings accounts that will
help people take a year-round approach to planning for their holiday, which
remains one of the biggest annual household spends . With the in-built
savings tool, customers can set up a weekly or monthly savings plan to reach
their target goal.

In addition to the app's core features, Sumo customers will enjoy new
services not previously seen in a mobile banking app. Customers can also
click through to the Thomas Cook holiday booking engine to book their
holiday.

Another feature is the ability to send money to friends and family via SMS
to cover shared holiday expenses.

Eligible customers will be able to apply for an industry standard overdraft
facility up to a maximum of 20,000 SEK (Swedish Krona). This will allow
customers to dip into additional funds via the app, to top up their holiday
spending whilst keeping control of their budget.

A Sumo account is simple to use and can be set up securely in under 10
minutes, all via a mobile phone. Supporting seven currencies, including
Euros and Sterling1, Sumo makes it even easier for customers to plan and
manage their holiday money both at home and abroad.

As Sumo will run on Ferratum's open Application Processing Interface ("API")
architecture, Ferratum and Thomas Cook Money will be able to add further
services and functionality to the platform over time.

Ferratum's full service, all-in-one mobile bank is already available in
Sweden, Norway, France, Germany and Spain. Launching in Sweden today,
Ferratum will support Thomas Cook Money as the company expands the service
across Thomas Cook's other core markets in Europe, including the UK, from
2018.

Ferratum Group founder and CEO, Jorma Jokela, said:

"I am incredibly excited to be partnering with Thomas Cook Money, one of the
most loved brands in the world. We built our mobile bank to ensure the
customer experience is super quick and easy, while giving customers all the
features they need to live their lives on the move. Thomas Cook Money is
bringing that rich functionality to the travel market, which makes perfect
sense.

"When it comes to financial services, the needs and expectations of
consumers are evolving rapidly, but thanks to our open API platform approach
Ferratum, and the brands we partner with, can respond with a scalable
ecosystem of relevant features and services - all integrated into one single
mobile banking solution - market by market, and brand by brand."

Anth Mooney, Managing Director of Thomas Cook Money, said:

"We know holidays are a big investment which is why we've designed a service
that makes it as easy as possible for our customers to plan and save all
year round for their weeks in the sun and to spend their money on holiday
with confidence. Sumo has all the security and services customers should
expect of a traditional bank account, but because it has been designed with
holidaymakers in mind, it includes some great added extras, from removing
foreign loading fees on card transactions to offering four fee-free ATM
withdrawals at home and overseas per month ."

"Working with Ferratum has given us an established, ground-breaking platform
for mobile banking services, which we are developing for the future.
Ferratum's international reach is also a great fit for our biggest markets,
ensuring we can roll out this service to more countries and more customers
in time," added Mooney.

###

Notes to Editors:

1. The full range of currencies supported in Sumo are: EU EUR; SEK; DKK;
NOK; PLN; CHF and GBP £.

2. Sumo offers four free ATM withdrawals per calendar month. Competitive
rates apply when customers exceed this figure.

About Ferratum Group:
Ferratum Group is an international provider of mobile banking and digital
consumer and small business loans, distributed and managed by mobile
devices. Founded in 2005 and headquartered in Helsinki, Finland, Ferratum
has expanded rapidly to operate in 25 countries across Europe, Africa, South
and North America and the Asia-Pacific region.

As a pioneer in digital and mobile financial services technology, Ferratum
is at the forefront of the digital banking revolution. Ferratum Mobile Bank,
launched in 2016, is an innovative mobile banking platform offering a range
of banking services, including real time digital payments and transfers,
within a single app. It is currently available in five European markets. Led
by its founder, Jorma Jokela, Ferratum has approximately 1.8 million active
and former customers who have been granted one or more loans in the past (as
at 30 September 2017).

Ferratum Group is listed on the Prime Standard of Frankfurt Stock Exchange
under symbol 'FRU.' For more information, visit www.ferratumgroup.com.

About Thomas Cook Group plc:

Thomas Cook Group plc. is one of the world's leading leisure travel groups
with sales of £9 billion. Thomas Cook is supported by 22,000 employees and
operates from 17 source markets, serving over 20 million customers annually.
Thomas Cook Group plc's shares are listed on the London Stock Exchange
(TCG).

About Thomas Cook Money:

Thomas Cook Group plc launched its new financial services division, Thomas
Cook Money Ltd, on 20th November 2017. Thomas Cook Money brings all of
Thomas Cook's existing financial services under one roof and has new
products to help customers plan, save, borrow and spend, both at home and
abroad. Thomas Cook Money unites a digitally led vision to a long heritage
of foreign exchange and travel insurance to deliver a modern customer
experience to holiday money. www.thomascookmoney.com

Contacts:

   Ferratum Group Hans Hagen Head of
   Global Partnerships T: [phone]
   541 E: [e-mail]
   UK media enquiries: Smithfield, A     European media enquiries:
   Daniel J Edelman Company Alex         Edelman.ergo, A Daniel J Edelman
   Simmons | Raeesa Chowdhury T: +44     Company Alexander Schmidt |
   20 3047 2543 | [phone] E:    Andreas Martin T: [phone]
   [e-mail] E:       26 E:
   [e-mail]        [e-mail]
                                         E: [e-mail]


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13.12.2017 Veröffentlichung einer Corporate News/Finanznachricht,
übermittelt durch DGAP - ein Service der EQS Group AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.

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   Sprache:        Deutsch
   Unternehmen:    Ferratum Oyj
                   Ratamestarinkatu 11 A
                   00520 Helsinki
                   Finnland
   Internet:       https://www.ferratumgroup.com
   ISIN:           FI4000106299
   WKN:            A1W9NS
   Börsen:         Regulierter Markt in Frankfurt (Prime Standard);
                   Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
                   München, Stuttgart, Tradegate Exchange



   Ende der Mitteilung    DGAP News-Service
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