Press - 6th May 2021
Press release – komuno and LPA create government subsidy portal for Rentenbank, the agency supporting Germany’s farmers and agribusinesses
Frankfurt am Main – 6th May 2021 – Digitalisation firms komuno and LPA announced today the development of an online portal for the automated processing of grants and loans on behalf of Rentenbank. Germany's development agency for agribusiness, forestry and rural areas, Rentenbank lent over €6 billion in low interest loans last year, with farmers buying more machinery and rural infrastructure.
The development of the online portal and interface connection is taking place in two stages. komuno and LPA will implement the online portal for applicants and Rentenbank by the end of 2021. The portal will then be expanded to provide connections with applicants’ own banking institutions next year.
"The rapid implementation of the portal is possible thanks to the many years of preparatory work done by komuno and LPA in the area of subsidies: we are building on the existing komuno infrastructure and expanding it into a fully comprehensive and independent subsidy portal for Rentenbank," says Stefan Lucht, Managing Director and founder of LPA.
“The new funding portal can implement any funding programme thanks to an integrated construction kit. It is so easy to use that new programmes can be created and managed by anyone. ‘Scalability by design’ means that the portal can be expanded flexibly and growing requirements can be implemented efficiently and with little effort," adds Thomas Eitenmüller, Managing Director of komuno GmbH.
komuno GmbH is the provider of komuno, the digital platform for municipal loans and subsidies. komuno brings municipal budgets and lenders together. Cities, municipalities and special-purpose associations place their loan tenders free of charge with financial institutions of their choice, and financial institutions submit legally binding offers. Active on the market since September 2018, komuno is a joint venture of Helaba Digital GmbH & Co. KG and the LPA Group.
The LPA Group is one of the world’s leading developers and consultants for technology-based capital market solutions (CapTech) for banks, insurance companies and fund providers. The core business of the multi-award-winning group is the CapTech suite, a portfolio of leading technology solutions for automated consultancy, sales and documentation for financial instruments, structured products and OTC derivatives. The products and services of the LPA Group help financial services companies in their capital market activities to automate their necessary advisory and regulatory documentation processes, thereby increasing their efficiency and achieving full compliance. The LPA Group also advises its customers on the strategic planning and implementation of CapTech solutions. At its headquarters in Frankfurt and at ten other international locations including Tel Aviv, London, Zürich, New York, Paris, Barcelona and Singapore, almost 400 technology and capital market experts are now working for a portfolio of international clients.
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