The first product available on the new platform will be a dual currency investment product, which is a short-term deposit that offers higher returns than are available on plain vanilla deposits. In exchange, investors accept the risk that the principal may be repaid in a different, possibly weaker, currency.

A number of private banks and other financial institutions have launched forex products in recent years. Some are designed to enhance cash deposit returns, hedge currency exposures or even reduce the cost of repaying mortgages.

The Deutsche products are designed to be used by financial institutions wishing to offer FX-linked investments and hedging products to their clients, while corporate and institutional investors will benefit from its simplicity, says the German bank. In addition, these offerings will enhance the foreign exchange product suite that Deutsche Bank provides to private wealth management clients, it said.

“Deutsche Bank has long realised the need for accessible, convenient products for direct and third party clients,” said John Bartter, who oversees Options and Structured Products in e-Commerce Sales.

“Private wealth clients are increasingly looking to FX as a preferred asset class and we are well positioned to provide services and products to this market. This product fits the growing demands for higher yielding cash deposits within the wealth management segment,” he said.