Fintech on the move - SCHUMANN opens new subsidiary in London, UK - Trade Finance Global

Fintech on the move – SCHUMANN opens new subsidiary in London, UK

By Patrick Tibke

Patrick Tibke is the Assistant Editor & Copywriter at Trade Finance Global (TFG). He has previously worked as a reporter and researcher at Nielsen, S&P Global, SportBusiness Group, Jakarta Globe, and more. He holds an MA in Journalism from the University of Sheffield, a BA in South East Asian Studies from SOAS at the University of London, and a Diploma in Journalism from the UK's National Council for the Training of Journalists (NCTJ).

Last updated on 04 Jul 2024

10 Dec 2021 2 min reading time

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Global fintech brand SCHUMANN has announced that it has founded a new subsidiary based in London, UK.

Registered as SCHUMANN International Ltd, the new subsidiary aims to give SCHUMANN a platform for its next phase of growth, and a hub for its international activities.

In a press statement, SCHUMANN said it has been growing its customer base in the London market for several years, and this latest step consolidates that growth and its international outlook.

As a software solutions provider for credit risk, compliance, and portfolio management, SCHUMANN said the new subsidiary is a vote of confidence in the continuing importance of the London market internationally.

Robert Meters, director of SCHUMANN International Ltd, said: “The demand from international companies for our solutions is increasing, and the establishment of this subsidiary is now a logical development.

“With our solutions, we offer modern software for credit and surety insurers, financial service providers, and large corporates.

“All these players come together in the financial marketplace of London, which is very convenient for us, especially since our solutions are also used at the interface processes of these companies, and can thus enable continuous end-to-end processes.”

The new company will be further represented by Mike Holley, Stefan Schubert, and Martina Städtler-Schumann, who will also serve as directors alongside Meters.

In early 2022, other members of SCHUMANN’s existing staff will begin transferring to its new London office.

SCHUMANN’s software solutions are used in around 40 countries worldwide, and its client base is expected to grow in line with further digitalisation of the financial sector.

The COVID-19 pandemic has already accelerated the move towards digital and software solutions in finance, and SCHUMANN said it has seen increased demand for a variety of its products and services.

Among its most sought after offerings are business process digitalisation products, and digitalised risk warning systems for credit insurance and surety companies, brokers, export credit agencies, and financial institutions.

Martina Städtler-Schumann, managing director and founder of Germany-based parent company SCHUMANN, said: “We look forward to expanding our international business and enabling companies to succeed through the digitalisation of credit management processes.”