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Deutsche Bank Pushes Digital With Second Fintech Deal This Year

Sonali Basak, Steven Arons
Deutsche Bank Pushes Digital With Second Fintech Deal This Year

Deutsche Bank AG beefed up its digital banking operations again with a second investment in a fintech startup within four months, a move that points to a slow revolution at its one of its most important divisions. The German lender, which has been shrinking staff and operations internationally, agreed to buy an unspecified stake in Dallas-based startup ModoPayments, aiming to bolster its Global Transaction Bank and tap into the fast-growing channels outside of traditional banking. While Deutsche Bank has fallen out of favor with investors, the valuations of companies more focused on the global trend toward mobile and digital payments have rocketed.