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AXA Germany cooperates with Fondsdepot Bank as future platform for its investment direct business - Long-term partnership serves to expand the range of products and services

  • AXA Group and Fondsdepot Bank, Germany's leading fund platform, agree on partnership in the single premium and investment business. For this purpose the parent company of Fondsdepot Bank, a wholly-owned subsidiary of DXC Technology Company, takes over all shares of AXA Bank in Germany. 
  • Through the cooperation with Fondsdepot Bank, AXA customers and sales partners benefit from the further development of the product range in the fields of deposits, investment funds and asset management as well as from simplified and digitally oriented structures.

AXA Germany is positioning itself in the best possible way for the future in the area of single premiums and investments and has concluded a long-term cooperation agreement with Fondsdepot Bank GmbH. In future Fondsdepot Bank will provide the technology and service platform including expertise for the administration of fund-based investment direct business for three of the largest insurers in Germany.

Together, AXA and Fondsdepot Bank intend to offer customers and sales partners sustainably attractive products as well as simplified and digitally oriented services. The cooperation with the leading technology and service platform in Germany and Europe's largest liability umbrella enables AXA to maintain its current range of services while at the same time consistently developing it further and simplifying internal processes. This includes, for example, further development in fund selection and asset management. While the Fondsdepot Bank provides the technically highly developed fund platform, advice and support for customers remain with AXA and its sales partners.

AXA will bring its bank into the partnership. For this purpose the parent company of Fondsdepot Bank, a wholly owned subsidiary of DXC Technology Company, will take over all shares in AXA Bank. The DXC Technology Company is the world's leading independent end-to-end IT service provider. Subject to regulatory approval, the acquisition is expected to be completed by the end of 2020. In the medium term, the merger of AXA Bank and Fondsdepot Bank under one roof is planned. Until then, AXA Bank and Fondsdepot Bank will be managed as independent companies, and the name "AXA Bank" will remain unchanged. The mortgage lending business also operated by AXA Bank is not part of the transaction but will remain within the German AXA Group, as will the employees working in this area.

"The partnership with Fondsdepot Bank will open up new opportunities for us to continue to provide attractive investment products and new services for our customers and sales partners as AXA. With its know-how from taking over the liability umbrella for the sales forces of large German insurers and its technological capabilities as part of DXC Technology the Fondsdepot Bank is the ideal strategic addition for us." says Dr. Thilo Schumacher, member of the Management Board of AXA Konzern AG responsible for the personal insurance division.

Future-proof solutions for customers and sales partners in a challenging environment

AXA Germany has so far bundled its investment and banking services in the AXA Bank. This includes in particular various forms of financial investment which go beyond the classical insurance business, such as fixed-term deposits, securities business and asset management. The AXA Bank has a full banking licence in Germany and as an independent company is a wholly owned subsidiary of the German AXA Konzern AG.

With Fondsdepot Bank AXA gains a strategic partner with a great deal of market experience who continuously invests in the optimisation of its product and service range and thus creates attractive solutions for AXA customers and sales partners.

Sebastian Henrichs, CEO of Fondsdepot Bank, says: "With this strategic partnership we are strengthening AXA's value proposition in the German market and will work together to develop the offerings for AXA clients and sales partners. Together with DXC Technology, Fondsdepot Bank has comprehensive expertise in digital transformation. This is an important prerequisite for actively meeting the increasingly complex technological requirements in banking business and new customer expectations".

Claus Schünemann, Vice President Banking & Capital Markets EMEA (Europe, Middle East and Africa) at DXC Technology and Chairman of the Shareholder Committee of Fondsdepot Bank, explains the background to the planned transaction: "DXCs Fondsdepot Bank is a leading provider of technology platforms in the regulated investment fund market in Germany. The long-term strategic cooperation with Fondsdepot Bank and the implementation of digital platform solutions is an important step for AXA as an international insurance group to implement its strategy. Together with Fondsdepot Bank DXC transforms technological innovations into measurable success. The simplification of processes on a technologically outstanding platform of Fondsdepot Bank enables AXA to focus on customer advisory services and sales growth".

Prospects for AXA Bank employees

For the approximately 40 AXA Bank employees affected, viable solutions are to be found in the coming weeks in close coordination with the responsible works council committees. Talks will be held with all employees in a timely manner. The Fondsdepot Bank also appreciates the professional competence and experience of the AXA Bank employees.

AXA in Germany

With premium income of € 10.7 billion (2018) and 9,038 employees, the AXA Group is one of the leading insurance and financial services groups in Germany. The company offers holistic solutions in the areas of private and company pension schemes, health insurance, property and casualty insurance and asset management. All the company's thinking and actions are based on the customer and his needs. AXA Germany is part of the AXA Group, one of the world's leading insurance companies and asset managers with 171,000 employees and brokers and 105 million customers in 61 countries. In the 2018 business year the AXA Group achieved sales of € 102.9 billion and an operating result (underlying earnings) of € 6.2 billion after tax. The assets under management of the AXA Group had a volume of € 1.424 trillion at the end of 2018. AXA Bank AG is a component of the provision and asset management of the AXA Group and a platform for the banking products offered by the German AXA Group. The bank is a 100 % subsidiary of AXA Konzern AG. Further information under Annual Report AXA Bank 2018.

Press contact AXA Konzern AG:

Head of Corporate Communications
Silvana Herold
Phone: 0 22 1 / 1 48 – 2 41 13
e-Mail: silvana.herold@axa.de  

About Fondsdepot Bank GmbH

As the leading fund platform in Germany, Fondsdepot Bank connects markets: independent of banks and asset managers, it offers over 180 sales partners simplified access to investment solutions from a wide range of investment companies and the custody of their customers' portfolios in securities accounts. As the largest liability umbrella in Germany, Fondsdepot Bank also provides the legal, technical and organisational framework for advising and brokering shares in investment funds and asset management products. It manages around one million investment accounts with a volume of approximately EUR 40 billion in assets under administration. The Fondsdepot Bank gives end customers simplified access to a comprehensive, independent fund universe. For investment companies, Fondsdepot Bank offers the opportunity to offer their fund products to a wide range of distribution partners and end customers and to open up new distribution channels.

Further information is available at www.fondsdepotbank.de.

Press contact Fondsdepot Bank:

Marco Pries
Team Head Marketing
Phone: +49 9281 7258-2377
Mobil: +49 172 403 6903
e-Mail: presse@fondsdepotbank.de

About DXC Technology

DXC Technology, the world's leading independent end-to-end IT service provider, manages and modernizes business-critical systems and integrates them with new digital solutions to achieve better business results. The company's global presence and talent, innovation platforms, technology independence and extensive partner network enable more than 6,000 private and public customers to manage change. For more information, please visit www.dxc.technology.

Press contact DXC Technology:

Christina Trauntschnig
Head of Marketing & Communication, North and Central Europe
DXC Technology
Telefon: +43 1 20777 1015
Tel. mobil: +43 (0) 676  7868804
E-Mail: ctrauntschni@dxc.com

Your contact for press enquiries


Marco Pries
Team Head Marketing

Tel: +49 9281 7258 2377
E-mail: presse(at)fondsdepotbank.de