Helaba digitizes promissory note issue with Fintech

Faster, cheaper, more transparent: Helaba wants to use the Value Concepts fintech to improve the placement of promissory notes. The Austrian utility company Verbund is the first company to issue a promissory note on the new platform.

The promissory note is currently the financing instrument of choice for many CFOs. In the meantime, the thoughts of the leading banks in this segment revolve around the question of how the issuance of the securities can become faster and cheaper. While Landesbank Baden-Württemberg ( LBBW ) relies on blockchain technology for this purpose, Helaba is taking a different approach: Landesbank is cooperating with Fintech Value Concepts, as announced today.

The Fintech wants to digitize the complete issuing process of promissory notes with the help of its platform VC Trade. “Above all, it’s the upstream processes – the negotiations, the exchange of documentation and the investor approach – that still require a lot of manual work today. This is where our platform can help, promises” Stefan Fromme, founder and CEO of Value Concepts, to journalists Monday. Up to 40 percent cost savings could be in business, said Andreas Petrie, head of primary market business at Helaba.

 

Author: Yash Hirani

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