flatex onboards 46,000 customers in one deal with German police union
“For us, the cooperation with the largest state association of the police union has a clear model character for future partnerships also beyond the police.”
The police union in North Rhine-Westphalia, Germany, has teamed up with flatex, a brand of renowned retail broker flatexDEGIRO.
This exclusive partnership will offer more than 46,000 union members the opportunity to take charge of their financial future with simple and secure access to the capital market.
Frank Niehage, CEO of flatexDEGIRO, said: “As Europe’s leading online stock market, we are very pleased to be able to support members of this important professional group through this partnership, also fulfilling our social responsibility to some extent. Shared values such as safety, reliability and trust form the solid foundation of this partnership. For us, the cooperation with the largest state association of the police trade union has a clear model character for future partnerships also beyond the police.
Licensed broker BaFin operates the online brokerage platform in Europe, offering clients of the flatex and DEGIRO brands a wide range of independent products with execution on major TIER 1 exchanges.
flatex and DEGIRO together serve over 2 million client accounts, having processed over 91 million securities transactions in 2021, making them one of the largest online retail brokers in Europe.
Over the next five years, flatexDEGIRO aims to grow its customer base to 7-8 million customer accounts and process 250-350 million transactions per year – even in years of low volatility, the company said.
flatexDEGIRO has extended its long-standing B2B partnership with digital wealth manager Whitebox, an independent robo-advisor for retail investors.
The two companies have been partners in the B2B space for over seven years already and Whitebox’s reputation has only grown since then, having been repeatedly awarded Germany’s best robo-advisor award for its products, its quality of service and its pricing model.
Europe’s largest and fastest growing online broker for retail investors will therefore leverage Whitebox’s robotic advice and offer a fully digital investment solution to its users, from flatex Germany to Germany. summer 2022. After the successful launch of flatex, flatexDEGIRO will seek to extend the offer to all DEGIRO customers.
The partnership with Whitebox is the next step in the verticalization of flatexDEGIRO, the low-cost brokerage platform addressing new customer groups and targeting previously less active customers.
