The two companies will at first focus on the establishment and extension of a new Internet platform in the areas of e-banking and online brokerages, both companies reported. AOL is to become the door-opener for the Deutsche Bank, particularly in the mobile Internet arena.
All customers of the Deutsche Bank 24 (former Deutsche Bank) will be offered a introductory Internet package. This will include a reduced-cost PC to be used for online banking and includes AOL access. Another bonus, say the companies, is that customers of the Deutsche Bank 24 will in the near future be able to register with AOL in all
bank branches. Deutsche Bank 24 already claims to have around 650,000 online customers.
In addition, AOL and Deutsche Bank 24 plan to enter the market with a shared index fund, to be managed by DWS. The fund will concentrate on lifestyle and technology
stocks. Customers will be able to regularly confer with the fund managers
via AOL chat.
On the technological side, AOL and Deutsche Bank 24 want to work together on
mobile banking and similar services, with the aim of developing common
applications for WAP cell phones. Discount stock trading and mobile commerce
features of AOL are to be integrated in the service.
AOL launched its first WAP platform just in time for German tech show CeBIT.