DGAP-News: JDC Group AG: JDC subsidiary Jung, DMS & Cie. concludes exclusive partnership agreement with Sparda Bank Baden-Württemberg

JDC subsidiary Jung, DMS & Cie. concludes exclusive partnership agreement with Sparda Bank Baden-Württemberg

- The Sparda Bank will become the full-service advisor to the company's 700,000 private clients in all financial and insurance matters.

- Exclusive agreement with 5-year term and technical integration underscores long-term collaboration

The Sparda Bank Baden-Württemberg subsidiary Sparda Versicherungsservice GmbH (SVS) becomes the first full-service bank to conclude a five-year partnership agreement with the JDC Group (ISIN: DE000A0B9N37; Bloomberg: A8A.GR) subsidiary Jung DMS & Cie. Aktiengesellschaft. The intention to seek a partnership with comdirect communicated in the 4th quarter of 2018 indicated JDC's plans to position itself in the banking sector by providing its expertise in the processes and procedures associated with insurance transactions. The intensive negotiations on an integrated brokerage system, including white label services, were quickly finalised in Stuttgart.

Going forward, SVS will use a white label version of the allesmeins web app while also drawing on optimisation and comparison options using the GELD.de technology.

In a first step, Sparda Bank will be administering its insurance clients via JDC's proprietary client and contract management program iCRM in order to provide optimum and reliable in-person consulting services at a digital tempo.

"Along with our multi-banking approach, the partnership with Jung, DMS & Cie. will allow us to take an active role in the multi-insurance segment and in so doing provide our clients with guidance and orientation in today's insurance jungle", says Martin Hettich, CEO, Sparda Bank Baden-Württemberg. "This will make us an all-round advocate for our clients in matters relating to investment, foresight and risk protection", Hettich continued.

"The partnership with Sparda Bank demonstrates that we have established a place for ourselves as a service and technology platform in the bancassurance market", concludes Stefan Bachmann, CEO of the JDC Group, and with respect to the bancassurance strategy reiterated that: "This type of partnership is much more than one of the many partnerships that get quickly put together and announced in the insurtech sphere. Together with SVS we are leveraging the advantages of two platforms over the long term on behalf of the roughly 700,000 Sparda Bank customers. Digitisation is won in the computer room - and in our sector that primarily involves applying legally compliant, efficient transaction processes that satisfy data privacy regulations", Bachmann continued.

About JDC Group AG

JDC Group AG (ISIN: DE000A0B9N37) stands for modern financial advice and intelligent financial technology for advisors and customers. In the "Advisortech" business unit, via our subsidiary Jung, DMS & Cie., we provide our customers and advisors with modern advisory and administration technology. While many sales and distribution partners perceive the technological transformation as a problem and the young Fintech companies as the new competitors, we perceive the "technology" factor to be a great opportunity. Solutions from the "Advisortech" business unit help advisors, brokers, banks and other intermediaries to take even better care of their customers and generate increased sales in their earnings. In the "Advisory" segment, we procure financial products for private end customers via free advisors using the FiNUM Group. With over 16,000 connected sales partners, a portfolio of more than EUR 4.5 billion and over EUR 1.5 billion in product sales each year, we are one of the market leaders in the German-speaking region.

Disclaimer:

The Directors of JDC Group AG hold a significant participating interest in JDC Group AG and have a self-interest in the nature and content of the information provided in this release.

You can find further information on the company and affiliates at www.jdcgroup.de.