DEUTSCHE Bank announced the launch of its first innovation hub Blue Water Fintech Space in China to accelerate the bank’s digital and innovative offering to clients in China and facilitate partnerships with the fintech community.
Based in Shanghai, the newly introduced space will be run by a dedicated Innovation and Digital Solutions team. Centred around both client needs and business requirements, the space is uniquely positioned as the innovation face of Deutsche Bank’s Corporate Bank in China.
Building on the concept innovation-as-a-service, the 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, Artificial Intelligence (AI), robotic solutions, biometric technology and Internet of Things.
The space will also be responsible for enhancing the Corporate 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.
Commenting on the launch, Feng Gao, Deutsche Bank’s chief country officer for China, said: “China is one of the leading countries globally fronting the digital banking era and it is a vibrant market for fintech developments and innovations. The establishment of our Blue Water Fintech Space in Shanghai is a great endeavour, especially given the strategic importance of China to Deutsche Bank’s global footprint.”
Dirk Lubig, Deutsche Bank head of Corporate Bank China, said: “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 AI will enable new service capabilities that will help our clients to digitalize their business models and participate in the many growth opportunities in China.
“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,” added David Lynne, Asia Pacific head of Corporate Bank.