Leonteq and Glarner Kantonalbank launch innovative 'bench' 3a pension savings solution
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Leonteq AG
/ Key word(s): Product Launch
PRESS RELEASE | LEONTEQ AND GLARNER KANTONALBANK LAUNCH INNOVATIVE "BENCH" 3A PENSION SAVINGS SOLUTION Zurich, 04 March 2024
With "bench", Leonteq and Glarner Kantonalbank are launching an innovative, purely digital offering for the Swiss retirement market. The new "bench" 3a solution provides a guarantee on the paid-in assets at the time of retirement; the savings thus remain protected. At the same time, the guarantee products offer a higher potential return than a standard 3a savings account, with the guarantee being freely selectable at 80%, 90% or 100%. The new solution is based on Leonteq's newly developed technology platform SIGMA, which enables automated and scalable administration of pension deposits by the Bench 3a Foundation, as well as a mobile app developed by Leonteq. "bench" is set-up in such a way that other banks can join as partners in the future. Bench Services AG, a joint venture in which Leonteq and Glarner Kantonalbank each hold 50% of the shares, organises the digital marketing of the new pension solution. As a service provider, Bench Services AG acts on behalf of the Bench 3a Foundation. Leonteq and Glarner Kantonalbank each appoint a member of the Board of Directors of Bench Services AG and a member of the Board of Trustees of the Bench 3a Foundation. Lukas Ruflin, CEO of Leonteq, said: "bench is the result of a unique collaboration in which Leonteq has contributed its technological expertise and Glarner Kantonalbank its comprehensive banking know-how. After several years of development work, we are delighted to bring this pension savings solution to the market, which is an innovative offering in the banking sector." Sven Wiederkehr, CEO of Glarner Kantonalbank added: "Many Swiss prefer the savings account for their pillar 3a assets and thus forego potential asset growth. bench offers an uncomplicated way to let the money grow carefree until withdrawal." For more information on the new "bench" pension savings solution, visit the website www.bench.ch.
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LEONTEQ Leonteq is a Swiss fintech company with a leading marketplace for structured investment solutions. Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes. Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions. Leonteq further enables life insurance companies and banks to produce capital-efficient, unit-linked pension products with guarantees. The company has offices and subsidiaries in 13 countries across Europe, the Middle East and Asia. Leonteq AG has a BBB credit rating by Fitch Ratings, was assigned with an AA ESG rating by MSCI and is listed on the SIX Swiss Exchange (SIX: LEON). www.leonteq.com DISCLAIMER This press release issued by Leonteq AG (the “Company”) serves for information purposes only and does not constitute research. This press release and all materials, documents and information used therein or distributed in the context of this press release do not constitute or form part of and should not be construed as, an offer (public or private) to sell or a solicitation of offers (public or private) to purchase or subscribe for shares or other securities of the Company or any of its affiliates or subsidiaries in any jurisdiction or an inducement to enter into investment activity in any jurisdiction, and may not be used for such purposes. Copies of this press release may not be made available (directly or indirectly) to any person in relation to whom the making available of the press release is restricted or prohibited by law or sent to countries, or distributed in or from countries, to, in or from which this is restricted or prohibited by law. This press release may contain specific forward-looking statements, e.g. statements including terms like “believe“, “assume“, “expect“, "target" “forecast“, “project“, “may“, “could“, “might“, “will“ or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the Company or any of its affiliates or subsidiaries and those explicitly or implicitly presumed in these statements. These factors include, but are not limited to: (1) general market, macroeconomic, governmental and regulatory trends, (2) movements in securities markets, exchange rates and interest rates and (3) other risks and uncertainties inherent in our business. Against the background of these uncertainties, you should not rely on forward-looking statements. Neither the Company nor any of its affiliates or subsidiaries or their respective bodies, executives, employees and advisers assume any responsibility to prepare or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this press release or to adapt them to any change in events, conditions or circumstances, except as required by applicable law or regulation.
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1849711 04.03.2024 CET/CEST
