Regulation

Deutsche Bank to mull joint compliance platform to cut cost

The Frankfurt-based lender is in talks with Commerzbank and two unlisted German banks, Landesbank Baden-Wuerttemberg and Landesbank Hessen Thueringen, to bundle information on German corporate clients in a single location

bloomberg

12.12.2017

Deutsche Bank is considering teaming up with other German banks to set up a joint platform for know-your-customer (KYC) information, according to two people briefed on the matter.

The Frankfurt-based lender is in talks with Commerzbank and two unlisted German banks, Landesbank Baden-Wuerttemberg and Landesbank Hessen Thueringen, to bundle some information on German corporate clients in a single location, the people said, asking not to be identified because the discussions are private.