Toward Integration: Dresdner Bank

Article excerpt

Germany's third-largest bank after Deutsche Bank and Baverische Hypotheken and Vereinsbank (HypoVereinsbank), Dresdner has 1,goo branches in 70 countries and employs so,ooo people. In May Dresdner Bank still was merging with Allianz, the insurer that already owns 20% of Dresdner.

Dresdner's online services include corporate finance, equity sales, and asset management, in addition to its core lending and deposit activities. In 2000 it had plans to merge with Deutsche Bank to increase its global reach, but the deal was canceled after Deutsche Bank voiced concerns with investment arm Dresdner Kleinwort Benson. Instead, Dresdner acquired Wasserstein Perella Group - one of the leading US mergers and acquisitions firms - and formed Dresdner Kleinwort Wasserstein. The deal was completed in January 2001. As of December 2000, Dresdner's total assets were $423 billion.

The bank's management is strongly committed to "integration of the Internet with traditional business models," according to Dresdner's Business Report 2000, a strategy the bank will pursue in closing a quarter of its total branches. For the corporate market Dresdner board member Leonhard H. Fischer foresees the "creation of highperformance trading platforms and new e-business structures."

Dresdner serves private and corporate customers via separate Web sites. For private customers, e-services include home banking, credit card and deposit management, credit applications, and information about home loans. Services for business clients include international financial planning and management, lending, brokerage, and market analysis, among others.

From Dresdner's home page, www. (an English version exists as well at, private and corporate customers are directed to individual URLs for the difference e-services offered.


Private customers can open and manage bank accounts online and can also access their deposits online, apply for credit, or get suggestions about tax-efficient investments. Many of Dresdner's "advisory services," which it uses to educate customers, are also available online, as well as examples of how the financial analysis is structured. In addition, customers can obtain general information, such as status of home loans, via email.

Dresdner's subsidiary Advance Bank has 240,000 customers, all of whom manage their portfolios and checking accounts online.

Integrated in Advance Bank's services is Dresdner Brokerage. Last year Dresdner relaunched its platform for fund evaluation and trading; is aimed at the private customer and currently offers information on 130 funds. However, these funds can only be purchased at tellers in the branches.


Dresdner's business customers and institutional clients can directly manage their accounts online for accessing information and making international payments, use e-billing, or trade securities. There are four portals for businesses and institutional clients: the global e-business hub, the European trading service Bestconnect, the corporate financial portal site, and the B2B-platform is the hub of Dresdner's e-business activities and a direct subsidiary of Dresdner Kleinwort Wasserstein (DrKW). …