NAGA Group, a Germany-based 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 company that operates a regulated
neo-broker, neo-banking app and a cryptocurrency platform, shared its
year-to-date trading updates on Thursday, reporting a profitable start into the
year 2023.
According to the update, the Group generated
a revenue of close to €6 million while its expenses stood at about €4.5
million during the first few weeks of 2023, suggesting that the online broker has made a profit of about €1.5 million
year-to-date (YTD). The profit comes even as NAGA said it reduced its cost base at the beginning of
the year by over 65% compared to the start of 2022. In addition, social trading focus firm said it maintained its new customer growth 15% above levels it recorded in 2022.
Meanwhile, while NAGA Group is yet to release its annual report for fiscal year
2022, key
numbers on the company’s group website says the firm generated an estimated
revenue of €52 million in 2022. The company’s revenue, therefore, dipped
by 6% year-over-year from the €55.3 million generated in fiscal year 2021.
Furthermore, since NAGA Group reported a consolidated revenue of €35 million during first
half-year 2022, the company’s revenue, therefore, came in at about €17 million
during the last six months of last year.
In the new trading update, NAGA said its monthly trading activity and three-month active users base
“are at all-time high.” The fintech company also said copy trading represents
more than half (55%) of all trades made YTD.
Moreover, the company said its customer deposit YTD surged by half
(50%) compared to the same period last year. During this period, the company’s
average deposits per new client also shot up by 75%.
“The group continues to improve its marketing efficiency by developing
further automation
Automation
Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime
Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime
Read this Term and business intelligence technology as well as preparing
the expansion into the Southeast-Asian and Latin American region with its newly
established regulated entity NAGA Capital,” NAGA Group explained.
NAGA Group, a Germany-based 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 company that operates a regulated
neo-broker, neo-banking app and a cryptocurrency platform, shared its
year-to-date trading updates on Thursday, reporting a profitable start into the
year 2023.
According to the update, the Group generated
a revenue of close to €6 million while its expenses stood at about €4.5
million during the first few weeks of 2023, suggesting that the online broker has made a profit of about €1.5 million
year-to-date (YTD). The profit comes even as NAGA said it reduced its cost base at the beginning of
the year by over 65% compared to the start of 2022. In addition, social trading focus firm said it maintained its new customer growth 15% above levels it recorded in 2022.
Meanwhile, while NAGA Group is yet to release its annual report for fiscal year
2022, key
numbers on the company’s group website says the firm generated an estimated
revenue of €52 million in 2022. The company’s revenue, therefore, dipped
by 6% year-over-year from the €55.3 million generated in fiscal year 2021.
Furthermore, since NAGA Group reported a consolidated revenue of €35 million during first
half-year 2022, the company’s revenue, therefore, came in at about €17 million
during the last six months of last year.
In the new trading update, NAGA said its monthly trading activity and three-month active users base
“are at all-time high.” The fintech company also said copy trading represents
more than half (55%) of all trades made YTD.
Moreover, the company said its customer deposit YTD surged by half
(50%) compared to the same period last year. During this period, the company’s
average deposits per new client also shot up by 75%.
“The group continues to improve its marketing efficiency by developing
further automation
Automation
Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime
Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime
Read this Term and business intelligence technology as well as preparing
the expansion into the Southeast-Asian and Latin American region with its newly
established regulated entity NAGA Capital,” NAGA Group explained.
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