The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Wealth

Wealth management: Deutsche Bank advisers launch Deposit Solutions marketplace

The German leader joins local private banks in starting to steer clients towards third-party deposits platforms as the sector tries to pass on negative rates.

Deutsche-Bank-buildings-night-780.jpg



Deutsche Bank will become the first big bank to systemically distribute deposits from rival banks through its branch network and wealth management business, in another shift towards open banking in Europe.

The move comes as Deutsche Bank seeks to improve its client offering and fee income at a time when banks – especially in Germany – are facing a stark choice between charging negative rates to depositors or suffering even lower net interest margins.

Germany’s biggest bank, which has a loan-to-deposit ratio of about 75%, is the single-largest holder of excess reserves at the European Central Bank (ECB), according to research by JPMorgan.

Deutsche bought 5% of deposit-marketplace fintech Deposit Solutions in September, the same month that the ECB cut its deposit rate to -0.5%.

Zinsmarkt

It made the platform available on a white-labelled basis with the launch of its Zinsmarkt deposit offering two-and-half years ago, initially through its in-house online broker Maxblue, but previously only on a self-directed basis.

Now Deutsche is moving beyond the test phase, launching active distribution of Zinsmarkt at branch level, and to wealth management clients – in other words, to those most likely to be charged negative rates.




You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree