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.

About Us

TF Bank was founded in Sweden in 1987 for the purpose of offering financing solutions to customers who ordered goods from mail-order catalogues. Over time, the Group has grown both in terms of product offering, profit and geographical reach. Currently, TF Bank offers consumer banking services through a highly automated, in-house developed IT-platform designed for scalability and adaptability to different products, jurisdictions, currencies and digital banking solutions. TF Bank conducts banking operations with deposits and lending to private customers in Sweden and Finland, lending to private customers in Norway and Poland as well as cross-border lending in Denmark, Estonia and Latvia. The Group’s principal business is lending to the public through two segments: Direct to Consumer and Sales Finance. Direct to Consumer comprises mainly of loans of limited amounts to private customers. Sales Finance provides funding solutions for the handling of invoice and instalment payments.

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