TF Bank renames business segments
TF Bank has decided to rename its two business segments within lending. As of 13 April, Sales Finance will be renamed Ecommerce Solutions and Direct to Consumer will be renamed Consumer Lending.
The Ecommerce Solutions segment (formerly Sales Finance) offers payment solutions to merchants, both ecommerce and retail, for handling consumer payments. As of 1 January 2017, the segment also includes credit cards.
– Ecommerce Solutions is a better reflection of the segment than Sales Finance. We do not offer traditional sales finance in the stores via card infrastructure. Instead, we offer digital ecommerce solutions for retailers and in-store. We focus heavily on technical solutions that are flexible and easy for both merchants and customers, says Mikael Johansson, Head of the Ecommerce Solutions segment.
In the Consumer Lending segment (formerly Direct to Consumer), TF Bank offers unsecured consumer loans to creditworthy individuals.
– Consumer Lending provides a more accurate description of the segment than Direct to Consumer. The name gives a better indication of what we actually offer, both to new and existing customers as well as investors, says Espen Johannesen, Head of the Consumer Lending segment.
For further information, please contact:
Mikael Meomuttel, CFO and Head of Investor Relations +46 (0)70 626 95 33
The information was submitted for publication 13 April 2018 at 08:10 CET
About TF Bank
TF Bank is an internet-based niche bank offering consumer banking services through its proprietary IT-platform with a high degree of automation. The company's IT platform is designed for scalability and adaptation to different products, countries, currencies and digital banking solutions. TF Bank carries out deposit and lending activities with consumers in Sweden, Finland, Norway, Denmark, Poland, Germany, Estonia and Latvia through subsidiary, branch or cross-border banking. The business is divided into two segments: Consumer Lending and Ecommerce Solutions.