Deutsche Bank opens innovation hub in China
The Blue Water Fintech Space innovation hub will be based out of Shanghai and will be run by a dedicated Innovation and Digital Solutions team
The Blue Water Fintech Space innovation hub will be based out of Shanghai and will be run by a dedicated Innovation and Digital Solutions team
Deutsche Bank has announced the launch of its first innovation hub in China, which it’s calling the Blue Water Fintech Space. The idea of the space is to accelerate its digital and innovative offering to clients in China, and facilitate partnerships with the financial technology community.
The hub will officially strengthen Deutsche Bank’s service capabilities in China through innovation, serving to create an eco-system for integration of global resources within Deutsche Bank’s businesses and locations, while increasing the bank’s connectivity with the FinTech community.
Gao Feng, Deutsche Bank’s chief county officer for China noted: “China is one of the leading countries globally fronting the digital banking era and it is a vibrant market for fitnech developments and innovations. The establishment of our Blue Water Fintech Space in Shanghai is a great endeavor, especially given the strategic importance of China to Deutsche Bank’s global footprint.”
The hub will be centered around both client needs and business requirements and is uniquely positioned as the innovation face of Deutsche Bank’s Corporate Bank in China. Building on the concept ‘Innovation-as-a-service’, the Blue Water Fintech Space will provide clients with new ideas though digital transformation workshops, proof of concept roadshows, acceleration and incubation of FinTech projects as well as a deep-dive into cutting-edge solutions driven by design thinking, AI, Robotic solutions, biometric technology and Internet of Things.
The launch of Deutsche Bank’s Blue Water Fintech Space coincides with the bank’s ‘2019 Corporate Treasury Event: Planning for the unknown’, a new flagship event taking place on September 11, 2019, which will help to address the most critical issues faced by corporate treasurers, and offer in-depth discussions on foreign exchange risk management, cash management operations and working capital optimization. Attracting more than 150 senior guests from clients to senior experts, the event will also present the dynamics of digital solutions and the synergies and efficiencies they provide.
Dirk Lubig, Deutsche Bank Head of Corporate Bank China, commented: “With the launch of the Blue Water Fintech Space, we will build a platform to connect with the local Fintech and Start-up community to leverage cutting-edge technologies and systematically address changing client demands. Robotics and Artificial intelligence will enable new service capabilities that will help our clients to digitalize their business models and participate in the many growth opportunities in China.”
David Lynne, Asia Pacific Head of Corporate Bank, added: “The Blue Water Fintech Space will allow us to deliver best in class solutions and stay ahead of our competitors. It also supports our goal to become a more agile and digital organization, which we see is critical in the new environment. China is the perfect place to continue this journey given its fertile ground for innovation.”
To take advantage of the accelerated pace of innovation in Asia Pacific, Deutsche Bank has establish the first DB Innovation Lab for Asia Pacific. The DB Labs are a docking station to bring new technology into the bank.
As part of their Asia growth plan, Deutsche Bank (DB) had appointed Kevin Burke as the Head of Institutional and Treasury Coverage (ITC) for APAC three months ago.