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Deutsche Bank plans app for securities investment 

Tuesday 13 September 2022 14:17 CET | News

Deutsche Bank Vice President Karl von Rohr has announced plans to launch an app-based securities investments offer.

 

This was announced in an interview with the Handelsblatt newspaper by Karl von Rohr, Vice President of the Deutsche Bank and Chairman of the Supervisory Board of the fund subsidiary DWS. The bank intends to launch this independent digital offering for securities investments based on an app in 2024. The new offer should be aimed at people who want to have their assets managed professionally, want to trade securities online, and do their banking purely digitally.

Deutsche Banks existing offers

Deutsche Bank already operates direct banking offerings with Norisbank and the online broker Maxblue. The bank also already offers digital asset management with its "Robin" feature. Its asset management subsidiary DWS, in turn, markets its robo advisor "Wise" as a white label instrument to sales partners. Von Rohr left it unexplained in the Handelsblatt interview how the new product should fit into the existing range and where the distinction should be established. However, von Rohr was specific about the interest on fixed-term deposits, namely that these would be raised starting on September 12th, 2022.

The apps aim

The focus of the new app solution is on acquiring new customers, but the offer is also open to existing customers. According to the Vice President, Deutsche Bank does not want to set up a new bank for securities investments, instead, they plan to dock the offer onto existing structures. However, exactly where it will be docked, as well as the name, has not yet been decided. Customers will be able to receive personal advice by phone, in chat, and in the branch.

Previous endeavours

In July 2022, Deutsche Bank announced entering the "Buy Now, Pay Later" market by partnering with Austria-based fintech Credi2 to develop a white-label BNPL product for online retailers and ecommerce marketplaces. This is an ongoing venture, seeing as the first pilot projects are expected to launch in Germany by the end of 2022.

Additionally, Deutsche Bank more recently partnered with Traydstream to automate document checking for their Trade Finance products. This collaboration aims to improve the bank’s ongoing efforts to digitise and automate its documentary trade business, increasing controls, ensuring scalability for growth, and ultimately improving corporate clients’ experience in the letters of credit business.


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Keywords: product launch, investment, banks, mobile banking, banking, Deutsche Bank
Categories: Banking & Fintech
Companies: Deutsche Bank
Countries: Germany
This article is part of category

Banking & Fintech

Deutsche Bank

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