A prospective investment
Over the course of the past year, Deutsche Bank has steadily expanded its investing and advice offerings. A German business publication, Deutsche Bank, the largest bank in Germany, is in preliminary talks with Scalable Capital, a digital investing and broking platform, about a prospective investment or partnership transaction. Both Deutsche Bank and Scalable Capital have denied any knowledge of the negotiations.
Read: Unleashing The Power: How Tech Giants Harness Generative AI Chatbots
The deal is expected to be completed in Q4 2023
The app-based solution for consumer investing is expected to launch in 2024, and the bank is also rumored to be creating it. According to Handelsblatt’s sources, the bank is evaluating the platform to see if it will be useful for its private customer business.
Read: Let’s Dive Deep Into Fintech Vs The Conventional Banking
Other parties are also reportedly interested in the fintech. Scalable Capital was established in 2014 and has offices in Munich, Berlin, and London providing neo-advisory, wealth, and asset management services.
It strengthened its UK corporate brokering and advising services with a £410 million deal to acquire the investment bank Numis in May. The deal is expected to be completed in Q4 2023. Abbove, a Belgian wealthtech firm, was hired by the company last year to provide financial planning services.
Read the latest article: 10 Best Applications Of AI In Banking
[To share your insights with us, please write to sghosh@martechseries.com]
