Deutsche Bank has picked a minority stake in QPLIX, a Munich-based fintech firm serving family offices and asset managers.
QPLIX founders Kai Linde, Mathias Lindermeir and Philipp Pötzl will own the remaining holding.
The move is part of a partnership between the two parties, aimed at facilitating the internationalisation and development of QPLIX.
Under the alliance between Deutsche Bank’s Wealth Management business and QPLIX, the former will leverage QPLIX to support the complete management of large assets.
On the other hand, the partnership will enable QPLIX users to avail nearly 100 data interfaces.
Deutsche Private Port – Deutsche Bank Wealth Management’s digital investment office – will tap QPLIX to map, evaluate as well as manage different asset classes. This covers illiquid investments including real estate and private equity.
QPLIX will become the basis for Deutsche Private Port under the agreement. The service will initially be available in Germany.
Deutsche Bank head of Wealth Management Germany Frank Schriever said: “With comprehensive asset mapping, we are meeting a need of our top clients and strengthening our market leadership in Germany.”
The latest alliance reiterates Deutsche Bank’s focus on wealth management.
The bank has been in a tight spot with several failed turnaround initiatives and legal hurdles.
Earlier this year, it was revealed that the bank bribed a Saudi royal adviser to win business.
Last year, Deutsche Bank carried out a massive overhaul that resulted in 18,000 layoffs.
Earlier this year, DWS Group – the asset management unit of Deutsche Bank – took a 24.9% stake in Arabesque AI, a technology firm with an AI engine to predict stock price.
The deal came after the purchase of a 2.68% holding by DWS in ESG scoring firm Arabesque S-Ray.