The revamp comes in the wake of changing business models that are leading to a change in requirements of its business clients
A Deutsche Bank retail branch in Munich. (Credit: Wikipedia.org/Ich fahre hummer)
German banking giant Deutsche Bank has announced ‘Deutsche BizBanking’, a new platform under which its business clients ranging from self-employed small businessperson to medium-sized businesses will be served under the new umbrella.
The new unit will manage the products and services of its Deutsche Bank, Postbank and FYRST brands. The bank has strengthened the management team to support the new unit.
Deutsche Bank stated that its business clients form a strategic growth segment and it aims to dynamically develop new solutions for those clients.
Deutsche BizBanking is part of the Corporate Bank Germany
Deutsche Bank, Postbank and FYRST brands currently serve more than 800,000 business clients in Germany.
The new unit Deutsche BizBanking is part of the Corporate Bank Germany.
As per Deutsche Bank, the entry of fintechs and the so-called neobanks is expected to shake up the market shares in the segment.
The new entrants are coming up with new specialised offerings, technical interfaces or systems that enable new financial solutions to be devised.
In addition, changing business models are also leading to a change in the requirements of many business clients, the bank said.
Deutsche Bank said that its clients can interact with the bank via advisory centres through phone or video calls and service-related questions are answered around the clock.
There are nearly 1,000 advisors in more than 100 branches along with advisory centres to service its business clients across the country.
Deutsche Bank stated: “Advanced technology is bringing the value chains of business clients closer and closer together.
“The interplay between various partners in the business-to-business and business-to-business-to-consumer (B2B2C) space is constantly gaining importance.
“As a provider of such B2B2C offerings the bank aims to integrate its network within the entire business clients segment even more closely.”