Deutsche Bank has launched a new fintech innovation hub in Shanghai, as part of efforts to foster cooperation with the Chinese fintech sector.
On 11 September Deutsche Bank announced the launch of the “Blue Water Fintech Space” in Shanghai, with the goal of accelerating its digital and innovation offerings for Chinese clients and fostering local partnerships.
A dedicated Innovation and Digital Solutions Team will be responsible for operating the Blue Water Fintech Space, focusing on both client needs and business requirements as well as building upon the concept of “innovation-as-a-service.”
“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,” said Dirk Lubig, Deutsche Bank Head of Corporate Bank China.
“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.”
“China is one of the leading countries globally fronting the digital banking era and it is a vibrant market for FinTech developments and innovations,” said Feng Gao, Deutsche Bank’s Chief Country Officer for China.
“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 Blue Water Fintech Space will allow us to deliver best in class solutions and stay ahead of our competitors,” said David Lynne, Asia Pacific Head of Corporate Bank.
“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.”