Deutsche Bank is promoting the digitalisation of its client business with a “digital factory”. The objective is to include software developers, IT specialists, banking experts and FinTech start-ups such as Deposit Solutions and the Hamburg-based figo in new digital products and customer services.
Active role in digitalisation process
Deutsche Bank is developing figo into a multi-bank aggregation. From autumn 2016, this will allow customers to manage all their assets, liquidity, turnover and loans via Deutche Bank’s online and mobile banking, even if they have accounts with other banks.
André M. Bajorat, CEO of figo, told Hamburg Startups in an interview: “FinTech and banks are together a formula for success.” This basically means that banks are opening up and wish to play an active role in the digitalisation of the financial sector.
Instant-access and fixed-term savings offers
Deutsche Bank is working with the FinTech, Deposit Solutions, on a means of giving the bank’s customers across Europe access to fixed-term deposits by third-party providers.
Dr. Tim Sievers, Managing Director of Deposit Solutions, told Hamburg Startups in an interview: “Those who wish to cater to their customers comprehensively, need competitive, instant-access and fixed-term savings offers. It quickly became clear that Deutsche Bank is a good contender for a product architecture that is open to providers of savings.
Hamburg is a FinTech hotspot
Hamburg is becoming a hotspot for the FinTech sector as reflected by the Startup-Monitor of the private initiative Hamburg Startups. It lists 15 companies that are presenting innovations in the financial technology sector. A recent study also showed that FinTechs from Hamburg have the most employees compared to other sectors in the city.
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