Deutsche Bank AG is working on setting up joint innovation laboratories with technology firms IBM Corp., Microsoft Corp. and India’s HCL Technologies Ltd to improve its digital banking operations and fight-off new market entrants, people familiar with the matter said. Germany’s largest lender and its partners plan to set up their labs in Berlin, London and Palo Alto, Ca., and cooperate with Internet start-up firms. The move underscores the massive changes lenders face in the wake of mobile banking applications and the rise of independent platforms that threaten to grab market share from traditional financial institutions.