Deutsche Buries Digital Bank Plan
Deutsche Bank is blowing hot and cold with its fintech strategy.
Last fall, Germany's largest bank revealed plans for a digital bank, including dangling free accounts to attract a younger clientele. Shortly after Christian Sewing was installed in a rocky succession process last month, the Frankfurt-based lender has put the kibosh on those plans, news agency «Reuters» reports.
«Our German private and corporate client bank will not, as was previously announced, launch a new digital bank at the end of this year,» a spokesman told the newswire. Instead, Deutsche Bank harbors plans of a digital platform, and will provide further details in the fourth quarter.
