Online bank DKB will cooperate with asset manager DJE in the future

Smartphone app from the online bank DKB

The DKB is starting a cooperation with the investment company DJE in order to offer customers with little investment experience digital asset management.

(Photo: Thomas Trutschel / photothek.net)

Frankfurt The online bank DKB is trying to gain a foothold in the booming securities business with a semi-digital asset manager. To this end, DKB, a subsidiary of Bayerische Landesbank, has recently been working with the fund company DJE Kapital. The two companies announced this on Monday.

The offer, which is called “Solidvest Blue”, aims to appeal to customers who have not really dealt with the subject of investing before. DJE compiles the securities portfolio depending on the customers’ risk appetite and financial situation. It consists of actively managed funds and listed index funds and is adjusted by DJE experts depending on the market situation. The company is run by Jens and Jan Ehrhardt.

According to the DJE, there are currently four different portfolios, each of which differs in terms of the level of the equity quota. Investors can also choose whether they want to invest more or less according to sustainability criteria, i.e. according to ESG criteria. ESG stands for investments and corporate strategies that meet ecological, social and ethical standards.

Customers can invest digitally, but it is not a purely automated asset management, in the technical jargon “Robo-Advisor”. These are partly controlled by algorithms. The financial start-up Scalable Capital is one of the best-known providers. Scalabe is also a neo broker through which customers can trade securities themselves at low prices.

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The DKB has grown significantly in recent years and has 4.8 private customers. The number of securities accounts is a good 600,000. The technical infrastructure for the new offer comes from the fintech Elinvar. The industry service “Finanz-Szene” recently reported that the three companies want to start an offer together.

Change to the deposit insurance of the private banks

Unlike fintechs like Scalable and Trade Republic, DKB’s semi-digital asset management is not aimed at customers who invest small sums of money. Solidvest Blue is only available from an investment amount of 10,000 euros, after which you can save from 100 euros per month. The annual fees amount to 0.89 percent of the investment amount. In addition, depending on the type and number of funds used, additional fees are due.

The decision to work with DJE can be interpreted as a step that removes DKB further from the Sparkassen-Finanzgruppe. A cooperation with the Sparkasse fund provider Deka would actually be an obvious choice. Maren Heiss, division manager of the DKB private customer business, emphasized that it was not a decision against Deka, but in favor of a partner who has already shown strengths in the area of ​​online asset management. DJE manages a total of almost 17 billion euros.

Since the beginning of October, the DKB has also been a member of the deposit insurance of private banks. She did not switch to the savings bank security system – BayernLB is also affiliated there.

Previously, the DKB was a member of the deposit insurance of the Federal Association of Public Banks. However, this was abolished because only a few credit institutions belonged to it. A sale or an IPO of the DKB should be much easier to realize if the DKB is a member of the private deposit insurance fund. There has been speculation about this step for a long time.

The DKB wants to reach eight million customers by the end of 2024. She had issued the goal in 2019. Now the bank seems to be moving a bit away from it. A few days ago, DKB boss Stefan Unterlandstättner said to “Wirtschaftswoche”: “Whether we will achieve this number is not the most important point.” He also mentioned this goal, “so that it is clear that we want to create something huge, because I do wanted to clarify the level of ambition ”.

More: This is how robo-advisors do in a crisis

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