(Bloomberg) -- Deutsche Bank AG plans to double the product development team at its “Digital Factory” fintech center in Frankfurt to 800 workers by 2018 and struck a partnership with the Massachusetts Institute of Technology to foster new ideas.

The lender is introducing smartphone and web-banking facilities this year and early next year including mobile payments, a financial planner and a “digital marketplace” selling financial products, consumer banking chief Christian Sewing said at the software center in Sossenheim, Frankfurt Thursday. Most of the roles will be new, while some people will move from other positions at the bank.

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