European Bank for Financial Services

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  European Bank for Financial Services GmbH (ebase)
logo
Country GermanyGermany Germany
Seat Aschheim
legal form Company with limited liability
Bank code 700 130 00
BIC EBSG DEMX XXX
founding 2002
Website www.ebase.com
Business data 2018
Total assets approx. 650 million euros
insoles approx. 500 million euros
Employee > 250
management
Supervisory board Frank Strauss (Chairman)
Corporate management
  • Kai Friedrich ( CEO )
  • Jürgen Keller ( CFO )

The European Bank for Financial Services ( Ebase for short, own spelling in lower case) is a German credit institute based in Aschheim near Munich . It specializes in asset management and investment portfolios for investors, which are supplied by cooperation partners. The company has been a subsidiary of the British financial services provider FNZ Group since 2019 .

history

Ebase headquarters (2017)

Interest in securities investments increased significantly towards the end of the 1990s . Both direct investments, for example in shares , but also investment funds were increasingly in demand. In the course of this, the portfolio management of investment funds also gained significantly in importance. At the same time, a discussion was held in the investment companies about their own value chain . As a result, it was found that managing investment portfolios for your own funds will not remain a core function of an investment company in the future.

Against this background, the Allgemeine Deutsche Investmentgesellschaft (ADIG) announced the establishment of the European Bank for Fund Services (Ebase) in 2001. The company was entered in the commercial register in March 2002 in the legal form of a limited liability company and was wholly owned by ADIG. Business operations began with the legal transition of the areas of information technology and customer depot management to ADIG. From then on, the service of an open investment custody account was offered to third parties outside of ADIG.

The core service of Ebase was a platform that enabled the procurement, custody and administration of fund units from various investment companies in a single investment custody account . Previously, independent financial service providers had to have their customers' investments managed in the depots of the companies whose funds they had bought. If funds from different companies were bought, this meant a considerable administrative effort, since several depots existed in parallel with different providers. Ebase solved this problem and thereby simplified the processing of purchases and sales of investment funds from different companies in just one depot. Ebase cooperated with broker pools and insurance companies, for example. Within six months, the platform recorded around 8,000 intermediaries who were connected via these cooperation partners.

For the economically successful operation of the investment portfolio management as a fund platform and to be able to achieve economies of scale, both the number of custody accounts and the stored volume are essential factors. In 2003 at the latest, a phase of consolidation began for small fund platforms. At the same time, more and more investment companies decided to transfer their portfolio management to a fund platform. Ebase secured a promising position and the company rose to number 2 in the market. In 2003, for example, the company took over the management of the Siemens capital investment company and Credit Suisse Asset Management. In 2004, the Universal-Investment-Gesellschaft also handed over its portfolio management to Ebase. In 2005 Ebase became the custodian bank for Vontobel fund products .

At the same time, Ebase expanded its offering in the area of ​​funded company pension schemes . The company pushed ahead with the development of custody accounts for institutional investors such as banks and in particular for unit-linked cover pools for insurance companies. Ebase also developed other products for private customers, such as overnight money accounts, in order to be able to absorb the liquidity of investors. In the course of this, the company applied for a business license as a deposit / credit institute, or full bank for short .

Until 2008, Ebase was integrated into Commerzbank's asset management. After an extensive sale of these activities, Ebase was sold within the Commerzbank Group to the direct bank subsidiary Comdirect in 2009.

In 2010, Ebase moved its headquarters from Haar near Munich to neighboring Aschheim. While the focus was previously on portfolio management for retail customers, the range has been expanded to include services for institutional customers. After the connection of new ETF providers, savings plans and capital-building benefits were made accessible via ETFs. Ebase developed into a pioneer in this area, after fund shares with several decimal places could be processed and thus small savings rates could be represented. In addition, the range of services was supplemented by the introduction of general securities business including securities loans.

In 2013, the company was named European Bank for Financial Services in order to take the significantly expanded product range into account. In 2013, Ebase was the first German provider to launch a robo-advisor under the name Fintego. This is an ETF-based, fully digital asset management system that is largely based on an intelligent algorithm . After the introduction of Fintego, Ebase created another innovative digital offering in 2016 with Finvesto. The fund marketplace for private investors was called Cominvest until 2016 and was positioned as a partner for investments through the relaunch.

In July 2018 it was announced that the British financial technology provider FNZ Group is acquiring the European Bank for Financial Services for around 151 million euros. The transaction was successfully completed a year later.

In mid-2020, Ebase announced that it would take over the entire securities business of Augsburger Aktienbank . The migration of around 180,000 depots with a volume of around 17 billion euros and the completion of the transaction are planned for mid-2021. In the course of this, the company will also take on employees of the Augsburger Aktienbank in Augsburg. In addition to the existing location in Aschheim, a second location will be created in Augsburg.

Corporate structure

Ebase is a limited liability company under German law. According to the articles of association, the company's purpose is banking and financial services, including the acceptance of third-party funds as deposits, the granting of loans and the purchase and sale of securities for its own and third-party accounts. The management of Ebase consists of Kai Friedrich (Chairman) and Jürgen Keller.

Products

The Ebase product range essentially comprises offers for wealth management, i.e. from wealth accumulation and investment to targeted asset extraction. This includes, for example, securities, investment and working time accounts as well as clearing accounts. The offers are white label capable, so that the affiliated cooperation partners have the opportunity to present them in their own look and feel .

Ebase positions itself as a partner and service provider for digital solutions. Customers include financial sales , insurance companies, banks, asset managers, companies and FinTechs . In an increasingly digital and regulatory environment, the end customer products Fintego and Finvesto are becoming more and more important because Ebase uses them to derive knowledge for B2B business.

Web links

Individual evidence

  1. ↑ a b Master data of the credit institute at the Deutsche Bundesbank
  2. ↑ a b c Matthias Dezes: fund company Adig based Wertpapierhandelsbank Ebase . Dealer platform for administration and procurement. In: Financial Times Germany . October 22, 2001, p. 18 .
  3. ↑ Annual financial statements for the 2016 financial year. European Bank for Financial Services GmbH (ebase). In: Business Register. Bundesanzeiger Verlag, February 20, 2017, accessed on September 20, 2017 .
  4. ↑ a b c d company profile. European Bank for Financial Services, accessed October 20, 2017 .
  5. ^ Andreas Kröner: Online bank Comdirect sells daughter Ebase. In: Handelsblatt. July 10, 2018, accessed July 18, 2019 .
  6. ↑ Ebase has a new owner. In: Fund professional. July 17, 2019, accessed July 18, 2019 .
  7. ↑ Patrick Bernau: Why don't the Germans buy shares? In: Frankfurter Allgemeine Zeitung. July 13, 2017. Retrieved September 28, 2017 .
  8. ↑ Arnd Thorn: Services - the key to market success . The future belongs to a fund supermarket - custody account management services are becoming increasingly important. In: Börsen-Zeitung . November 10, 2001, p. 6 .
  9. ↑ Adig presents products for old-age provision . In: Handelsblatt . October 1, 2001, p. 40 .
  10. ↑ a b c European Bank for Financial Services GmbH (ebase). Munich District Court, HRB 141740. In: Company register. Bundesanzeiger Verlag, accessed on September 20, 2017 .
  11. ↑ a b Adig-Investment founds service company . Ebase platform starts with 1.2 million fund accounts. In: Börsen-Zeitung . October 16, 2001, p. 18 .
  12. ↑ Heike Schwerdtfeger: Competition on the market: Fund at a bargain price. In: Handelsblatt. June 10, 2007, accessed September 20, 2017 .
  13. ↑ Portal integrates five applications: The European Bank for Fund Services has revised its service platform . In: Computerwoche . August 22, 2003, p. 27 .
  14. ↑ Barbara Brandstetter: Hard battle for new customers: The fund platform market will consolidate in the medium term . In: The world . December 12, 2003, p. 8 .
  15. ↑ a b Ebase takes over further investment portfolios . In: Handelsblatt . December 11, 2003, p. 22 .
  16. ↑ Universal outsources to Ebase . In: Börsen-Zeitung . May 19, 2004, p. 5 .
  17. ↑ Postbank works with Vontobel . In: Börsen-Zeitung . November 1, 2005, p. 4 .
  18. ↑ Skandia and Ebase agree partnership . Lifetime working time accounts with little effort. In: Börsen-Zeitung . October 6, 2004, p. 3 .
  19. ↑ Commerzbank brings Fidelity and Pioneer on board . Ebase platform enters the Riester fund business. In: Börsen-Zeitung . June 4, 2008, p. 4 .
  20. ↑ Ebase enters the overnight money business . In: Börsen-Zeitung . October 29, 2008, p. 5 .
  21. ↑ Service: money parking lot . In: Euro finance . December 1, 2008, p. 118 .
  22. ↑ Comdirect buys Ebase . In: Börsen-Zeitung . April 9, 2009, p. 5 .
  23. ↑ Comdirect relies on services for companies . Chief Financial Officer Diekmann senses “huge business”. In: Börsen-Zeitung . June 22, 2012, p. 5 .
  24. ↑ Brigitte Watermann: Service provider for professionals: The business with asset managers is an important pillar for direct banks . In: Financial Times Germany . November 3, 2010, p. 4 .
  25. ↑ Brigitte Watermann: King of Business Customers: Why direct banks also turn their attention to financial service providers and asset managers . In: Financial Times Germany . October 31, 2011, p. 6 .
  26. ↑ Ali Masarwah: ETFs for asset forming benefits. In: Morningstar. May 14, 2014, accessed October 9, 2017 .
  27. ↑ Brigitte Watermann: Credit without Schufa . As an alternative to the overdraft facility, the non-earmarked securities loan is little used. In: Financial Times Germany . June 22, 2012, p. 23 .
  28. ↑ New name for Ebase . In: Börsen-Zeitung . July 9, 2013, p. 5 .
  29. ↑ Digitization in asset management. In: GoingPublic Magazin. Retrieved October 9, 2017 .
  30. ↑ Rudolf Geyer: Asset management also works digitally . More and more investors are acting online for banking or custody account management. Now you can also opt for internet-based asset management. In: Börse Online . July 30, 2015, p. 78 .
  31. ↑ Joachim Herr: "It just takes time to build trust" . In: Börsen-Zeitung . February 24, 2015, p. 3 .
  32. ↑ Uwe Görler: Direct bank: Cominvest becomes Finvesto. In: Extra magazine. August 19, 2016. Retrieved September 20, 2017 .
  33. ↑ Ebase buries Cominvest brand - new start as Finvesto. In: Fund professional. August 22, 2016. Retrieved September 20, 2017 .
  34. ↑ Fund platform: Cominvest will be further developed as "Finvesto". In: The Investment. August 19, 2016. Retrieved September 20, 2017 .
  35. ↑ ebase with new owner: successful course to be continued with the FNZ Group. ebase, July 10, 2018, accessed on August 8, 2018 (press release).
  36. ↑ ebase takeover completed. In: AssCompact. July 16, 2019, accessed July 18, 2019 .
  37. ↑ Iris Bülow: Augsburger Aktienbank sells securities business. In: Private Banking Magazin. July 2, 2020, accessed August 6, 2020 .
  38. ↑ Ebase takes over the securities business of Augsburger Aktienbank. In: Fund professional. July 1, 2020, accessed August 6, 2020 .
  39. ↑ New management at Ebase. In: AssCompact. April 1, 2020, accessed August 6, 2020 .
  40. ↑ Rudolf Geyer: Small and medium-sized banks are looking for partner solutions: The heart of the service industry for the financial sector beats in Munich . In: Börsen-Zeitung . April 18, 2015, p. 2 .
  41. ^ Rudolf Geyer: Sustainable through cooperation . In: Börsen-Zeitung . September 11, 2014, p. 5 .
  42. ↑ Annual Report 2016. (PDF) Comdirect Bank, p. 20 , accessed on September 20, 2017 .

Coordinates: 48 ° 8 ′ 40.8 "  N , 11 ° 40 ′ 51.2"  E