NAGA Posts Solid Growth in October, November Transactions
- Its newly launched neo banking app brought over 6,000 users in the first three weeks.
NAGA Group (Xetra Xetra Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra Read this Term: N4G), the popular German social trading platform, saw heavy demand for its services in October and November with 1.3 million in monetary transactions combined. The trading volume in the period surpassed €25 billion, almost beating the 2020 third quarter’s record of €33 billion.
Both the months witnessed a healthy growth in market demand as the number of transactions in October came in at 645,000, while in November, it jumped to 680,000.
The company is now optimistic that the Q4 transactional number will dwarf Q3’s record 1.5 million transactions.
“We are fully on track to achieve our annual targets,” NAGA CEO, Benjamin Bilski stated. “We are pleased that our investments in Marketing & Sales are bearing fruits and that we can continue to expand and improve our customer base, customer activity, and the entire platform. NAGA has found a growth formula that enables it to grow in a precise way, fully, digitally and on a global level.”
Massive Demand for Neobanking
The demand surged when the Group is aggressively expanding services in other areas too and recently launched a digital banking application called NAGA PAY, which offers an IBAN account, a Mastercard and a crypto wallet.
In the first 21 days of its launch, the neo banking app onboarded more than 6,000 users with over €2.5 million in transactions volume.
Additionally, NAGA has plans to add stock trading features within the neo banking application.
The growth of the Group has prompted the Hauck & Aufhäuser Research analysts to track its shares with a buy recommendation.
“The Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term market is growing rapidly, and the NAGA GROUP has all the characteristics to grow with it,” Bilski added. “...we want to increase the transparency of our company and deal more intensively with investor relations... point[ing] out the future opportunities of the NAGA GROUP to other private and institutional investors on a wider scale.”
NAGA Group (Xetra Xetra Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra Read this Term: N4G), the popular German social trading platform, saw heavy demand for its services in October and November with 1.3 million in monetary transactions combined. The trading volume in the period surpassed €25 billion, almost beating the 2020 third quarter’s record of €33 billion.
Both the months witnessed a healthy growth in market demand as the number of transactions in October came in at 645,000, while in November, it jumped to 680,000.
The company is now optimistic that the Q4 transactional number will dwarf Q3’s record 1.5 million transactions.
“We are fully on track to achieve our annual targets,” NAGA CEO, Benjamin Bilski stated. “We are pleased that our investments in Marketing & Sales are bearing fruits and that we can continue to expand and improve our customer base, customer activity, and the entire platform. NAGA has found a growth formula that enables it to grow in a precise way, fully, digitally and on a global level.”
Massive Demand for Neobanking
The demand surged when the Group is aggressively expanding services in other areas too and recently launched a digital banking application called NAGA PAY, which offers an IBAN account, a Mastercard and a crypto wallet.
In the first 21 days of its launch, the neo banking app onboarded more than 6,000 users with over €2.5 million in transactions volume.
Additionally, NAGA has plans to add stock trading features within the neo banking application.
The growth of the Group has prompted the Hauck & Aufhäuser Research analysts to track its shares with a buy recommendation.
“The Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term market is growing rapidly, and the NAGA GROUP has all the characteristics to grow with it,” Bilski added. “...we want to increase the transparency of our company and deal more intensively with investor relations... point[ing] out the future opportunities of the NAGA GROUP to other private and institutional investors on a wider scale.”