Talanx and FinLeap join forces to create Elinvar, a white-label platform for the digitalisation of asset management
- Elinvar offers an integrated solution for discretionary portfolio managers and private banks – as a fully licensed provider, subject to the approval of BaFin
- Talanx Asset Management provides the expertise of one of Germany's largest asset managers. FinLeap brings to the table its know-how as a leading FinTech developer
- The new company has an experienced founding team in Chris Bartz, Marco Neuhaus and Sebastian Böttner
Berlin, 11 October 2016
Talanx and the FinTech developer, FinLeap, have founded a joint venture that will provide a digital platform for independent asset managers and private banks. Under the name Elinvar, the start-up offers asset managers what is, in this form, a unique opportunity to have an integrated solution through which they can also offer their asset management expertise digitally – under their own brand and with their own corporate design. All the required components for this are provided as an integrated solution: from simple and fully digital new client onboarding through to the integrated execution of asset management strategies and the automatic creation of orders, to the administration of and communication with customers. Subject to the approval of the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht), Elinvar, which is headquartered in Berlin, will be fully licensed and, in this respect too, will significantly simplify cooperation for all partners. The operative start with the first partners is expected to take place in spring 2017.
"Having concluded partnerships with the international accelerators Plug and Play in Silicon Valley and Startupbootcamp in London, we are now, with this joint venture, continuing our digitalisation strategy specifically in the area of asset management. We are delighted to have found another partner for this in Europe's leading developer of FinTech companies, FinLeap", says Herbert K. Haas, Chairman of the Board of Management at Talanx Group.
The exponential development of technological opportunities and the far-reaching digitalisation of all areas of modern life are also bringing about lasting changes for financial services providers. In Germany, some 500 independent asset managers and approx. 300 private banks actively provide discretionary portfolio management. Often medium-sized companies, they are facing huge challenges in meeting increasing customer demands over the entire value-added chain of investment management, specifically in terms of their technical competencies and capabilities.
"We see great opportunities here for cooperation. The investment expertise of established providers and the technological competence of Elinvar complement one another perfectly", explains Harry Ploemacher, Chairman of the Board of Management of Talanx Asset Management GmbH, under whose leadership the partnership is run within the Talanx Group. "Taking into consideration the increasing relevance of operational risks, there is even greater potential for licensed platforms like Elinvar, which combine the provision of technology and financial expertise", Ploemacher continues.
Talanx Asset Management and FinLeap each hold 37.5 percent of Elinvar. Through the other 25 percent, the founders and the team have made a long-term commitment to Elinvar and its on-going success.
Ramin Niroumand, Co-Founder and Managing Partner of FinLeap, adds: "Elinvar is further proof of the core competence of FinLeap. There are many good ideas, but it is their execution that makes the difference. Chris Bartz, as Venture Partner and Marco Neuhaus, as CFO of FinLeap have, in the past year, already proven their expertise in the establishment of successful companies. I am delighted that with them and Sebastian Böttner, we have such an experienced team for Elinvar. Through the partnership with Talanx Asset Management, the ideal framework has been established for the successful development of Elinvar and of the cooperating discretionary portfolio managers."
As the CEO, Chris Bartz (39) is the first point of contact for the asset managers and private banks who are customers of Elinvar. Having held senior positions at Deutsche Bank, Dresdner Bank, MBS & Weberbank as well as FinLeap, the industry expert advocates a strong German ecosystem in the context of digitalisation. Experienced portfolio manager and Elinvar COO Marco Neuhaus (41) is responsible for the operative performance of Elinvar. To this, he brings more than ten years of expertise in investment banking and asset management at Deutsche Bank, Merrill Lynch and the Talanx Group, having performed several hundreds of due diligence meetings, and most recently, his experience as CFO of FinLeap. Sebastian Böttner (36), as CTO, is focussed on the technological side of Elinvar. In the past ten years, he has been responsible for developing pricing, market-making and trading platforms for UBS, J.P. Morgan as well as FinTech & AdTech companies. This expertise in cutting-edge solutions within a regulated environment is now at the disposal of Elinvar's customers.
The name "Elinvar" goes back to Charles Édouard Guillaume, who won the Nobel Prize in Physics in 1920 for his invention of the eponymous alloy of iron, nickel and chromium. "Through the work of Guillaume, the precision of watches, maritime chronometers and other scientific precision instruments has improved significantly. Working together to the same high standard, we are committed to enhancing the digital performance of independent asset managers and private banks", says Chris Bartz describing the core mission of Elinvar.
More information available at www.elinvar.de
With premium income of EUR 31.8 billion (2015) and about 22,000 employees, Talanx is one of the major European insurance groups. The Hannover-based Group is active in some 150 countries. Talanx operates as a multi-brand provider with a focus on B2B insurance. Under the HDI brand, which can look back on more than 100 years of tradition, Talanx operates both in Germany and abroad in industrial lines as well as retail business. Further Group brands include Hannover Re, one of the world’s leading reinsurers, Targo Versicherungen, PB Versicherungen and Neue Leben, the latter all specialised in bancassurance, as well as the Polish insurer Warta. Talanx Asset Management is one of the top asset management companies in Germany and manages the assets of the Talanx Group. With its subsidiary Ampega Investment, Talanx Asset Management is also an experienced provider of solutions for outsourcing in the B2B market. The rating agency Standard & Poor’s has given the Talanx Primary Group a financial strength rating of A+/stable (strong) and the Hannover Re Group one of AA–/ stable (very strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX as well as on the stock exchanges in Hannover and Warsaw (ISIN: DE000TLX1005, German Securities Code: TLX100, Polish Securities Code: TNX).
FinLeap was founded by the HitFox Group, Ramin Niroumand and Hendrik Krawinkel in summer 2014 in Berlin as a company-builder specializing in Fintech. FinLeap develops FinTech companies sequentially and with its robust infrastructure determines the best course for success and accompanies the companies through early growth stages. In addition to Elinvar, FinLeap already has nine ventures in the market including the online-insurance broker Clark; Savedo, the marketplace for investment products; FinReach, a software-company that created an automated account switching kit; Valendo, an asset-based lender; Pair Finance, for online debt collection; solarisBank, a tech company with a full-banking license and zinsbaustein.de, a digital platform for real estate investments. Each venture is well grounded on the FinLeap foundation: Through this they get direct access to seed money (between Euro 0.5 to 5 million), a powerful network of investors, experienced entrepreneurs, customers and top-talents, an integrated technology platform as well as highly efficient processes. FinLeap and the nine ventures altogether employ over 270 employees from more than 30 nations and the company is headquartered in Berlin, Germany.
For media enquiries please contact:
Talanx: Dr. Kerstin Bartels
Tel.: +49 511-3747-2211
Talanx: Christoph Boßmeyer
Tel.: +49 511-3747-2094
FinLeap: Solveig Rathenow
Tel.: +49 176 321 44 053
Elinvar: Holger Böhne
Tel.: +49 160 973 58 899
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Elinvar bietet Banken die Plattform as a Service für Geschäftsmodelle in der Vermögensanlage. Das Angebot umfasst Applikationen für Kernprozesse, wie Kundenmanagement, online Onboarding, Unterstützung in der persönlichen Beratung, Portfoliomanagement, Reporting, Rechnungsstellung, online Kundenzugang und Kommunikation sowie den Anschluss von Drittdienstleistern, bspw. depotführende Banken, Marktdaten- oder KYC-Anbieter. Elinvars Partner profitieren von der Kombination führender Technologien und dem optimalen regulatorischen Setup, das Elinvar durch die entsprechenden BaFin-Lizenzen bietet. Mit diesem vollumfänglichen Ansatz bietet Elinvar seinen Partnern die einzigartige Möglichkeit, sich in einem Schritt zu digitalisieren und mit Hilfe modernster Analytik individuelle Lösungen zum Nutzen der eigenen Kunden zu entwickeln.
Elinvar enables asset & wealth managers to digitalize their business models by providing the required Platform as a Service. This includes applications for core processes like client relationship management, online onboarding, onsite advisory support, portfolio management, reporting, invoicing, online client access and communication as well as third party connections, e.g. to custodian banks, market data or KYC providers. Elinvar’s partners profit from the combination of leading technology and the optimal regulatory setup as Elinvar holds all necessary BaFin licenses. With this comprehensive approach, Elinvar creates the unique opportunity for its partners to go digital in one step and to utilize state of the art analytics to create individualized solutions to the benefit of their clients.