According to study, “Deutsche Bank: Fintech Ecosystem” some of the major companies that are currently working in the Deutsche bank fintech ecosystem are Symphony, R3, Finanzguru, IBM, Xchanging Transaction Bank.
Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.Deutsche Bank has launched the Deutsche Bank application programming interface to help early stage start-ups accelerate their innovations. It has also collaborated with technology providers to create and test digital solutions for its clients.Deutsche Bank has made investments in various technology companies to enhance its portfolio of digital payment solutions offered to both corporate and individual clients, and to improve its internal communication channel for better productivity. The bank has also acquired stakes in software providers in order to leverage their technology and develop new digital applications.It provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals.
Fintech is a contradiction of “finance” and “technology”. It is the use of technology in the financial services industry resulting in the introduction of new and innovative products and services, primarily through software. It may refer too use of technology in the financial services industry resulting in the introduction of new and innovative products and services, primarily through software. It includes payments, investments, advisory, insurance, bigdata and financing etc. Some examples of fintech are peer to peer or marketplace lending platforms, equity crowdfunding and roboadvice.
The various Fintech initiatives can generate projects that require a bank license, an authorization to operate as payment or e-money institutions. The launch of fintech initiatives through payment or e-money institutions is the most frequent way to enter the financial market. The most common initiatives consist in the creation of a payment institution to support the lending crowd funding platforms; the payments can be completed using electronic money products. Some new product launch strategies in financial markets are choosing the right team, bringing the third party validation, sell solutions not products and leverage all the marketing tools etc.
Some benefits of fintech ecosystem are user anonymity privacy, transparency of transactions, cheaper & faster transactions, cyber-crime defense and financial inclusion etc. Some risks are involved lack of government intervention, cybercrime, data security/data protection, volatility, low consumer protection and terrorist financing etc.
Some new opportunities of fintech Deutsche Bank are simplifying payments & billing, mobile payments, enhanced security, updating legacy systems, exploration of blockchain technology, migration to digital platforms, ability to improve efficiency & reduce costs and growth of crypto currencies & the peer to peer transfers etc.
Some recent initiatives by Deutsche Bank have established a research and development center and four innovation labs across Europe and the US. Also, it has developed a suite of robo-advisory and business management tools in co-operation with various technology providers. It launched a Digitalization Initiative, aiming to invest up to EUR1bn in digital technologies by 2020 and transform itself into a digital bank. The Deutsche Bank, Fintech strategy’s plan includes investing €750 million ($570 million) in digital products and advisory services by 2020.
Deutsche Bank acquisitions are mainly focused on artificial intelligence-based fintech start-ups. In near future, as part of the acquisition, Deutsche Bank will take over all employees of Quantiguaus, who will join the core team responsible for the development and roll-out of the transaction bank’s global API program.
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Ankur Gupta, Head Marketing & Communications