Deutsche Bank to launch tech labs

Deutsche Bank will launch three innovation labs this year, partnering with big development firms to speed creation of financial technology for its own uses and will spend up to €1 billion on digital development in the next 5 years.

German bank said it would work with three technology partners for the labs, including Microsoft in Berlin, HCL in London and IBM in Silicon Valley.

"These labs will act as a bridge between start-ups and different parts of the bank, enabling it to apply innovative technology to enhance service to clients and internal processes," said Henry Ritchotte, Chief Operating Officer and Chief Digital Officer, in a statement.


Source : Thehindubusinessline