Deutsche Bank has not made media headlines in a positive manner all that often lately. That situation is about to change, as the institution is putting more focus on their innovation team. Fintech, the blockchain, and other technologies that can be of use will all be looked at. Moreover, two new team members have been added to oversee these changes.
Deutsche Bank Goes In The Right Direction
After all of the turmoil plaguing the global bank, it is due time that some positive news is announced. Focusing on innovation and new services is the best way to alleviate consumer and investor concerns. Beefing up the innovation team with two new members will also boost creation of new ideas that consumers can embrace.
These two new members are Elly Hardwick and Philip Milne, both of whom have a history in the banking and Innovation Sector. Hardwick will become the global manager of Deutsche Bank Labs, which is a positive development for the future of innovation at the bank. Moreover, she will work closely with fintech startups, and actively drive adoption of new technological solutions.
Milne, on the other hand, will be the liaison between Deutsche Bank Labs and their global Technology arm. With his experience in the financial and technology sector over the past few years, his expertise will be put to the test to get Deutsche Bank on the rails again. Even though he has a history with virtual reality, it is doubtful that technology will make an appearance in the banking sector anytime soon.
What is rather intriguing is how the focus will be on fintech and collaboration. Albeit most banks around the world are taking a similar approach to innovation, Deutsche Bank has never been open about their plans for the future. Then again, keeping cards close to one’s chest is not a bad thing in such a competitive environment.
DB Group COO Kim Hammonds explained the changes as follows:
“Close collaboration with the innovation community is a priority for Deutsche Bank. These appointments will help accelerate the adoption of emerging technologies to enhance our service to clients and internal processes.”
Whether or not these changes will improve the general public’s view of Deutsche Bank remains to be seen. The institution has gone through a fair bit of turmoil this year already, and things are not looking to improve anytime soon. A strong focus on innovation can hopefully turn the ship around, but doing so will not be easy.
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