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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