Deutsche Bank has opened an innovation lab in New York, its fourth globally after Silicon Valley, Berlin and London.
The giant German bank says the lab in Lower Manhattan’s Fulton Center will explore new technologies focused on several areas, including artificial intelligence, cloud technology and cyber security.
With the core banking franchise running into difficulties at home and abroad, Deutsche Bank has set its sights on a future as a technology company, opening a digital factory in Frankfurt where staffers can work alongside fintech startups, and striking partnerships with accelerators and academics to tap into fresh ways of doing business.
Elly Hardwick, head of innovation at Deutsche Bank, says: “We want to make Deutsche Bank the first stop for start-ups. Through our global network of innovation labs, we are combining fresh ideas from fintechs with the scale and infrastructure of a global bank.”