Deutsche Bank has hired a senior digital expert from BNP Paribas to help drive the digital strategy for its securities services business.
Samar Sen joins Deutsche Bank in Singapore as global head of digital products, where he will be responsible for driving the bank’s strategy and use of artificial intelligence (AI) and distributed ledger technology (DLT).
Sen joins from BNP Paribas where he spent nearly five years developing its virtual assistant called “Beatrice” which uses AI to automate client request types within the wealth management business.
Deutsche Bank is looking to further develop its digital capabilities, following the go-live of its chatbot Debbie last year, which was built on a joint proof-of-concept with BNY Mellon’s Singapore Innovation Centre. Both banks integrated their chatbots built on the Symphony messaging platform with the aim to replace manual responses to status enquiries to securities trades.
The demand for data has driven an overwhelming need for digital solutions within securities and asset servicing. This has resulted in many custodians turning to new technologies, such as artificial intelligence and cloud-based technology, to meet that need.
In September 2017, Deutsche Bank recruited Thomas Nielsen from UK retailer Tescos as its chief digital officer for the global transaction banking (GTB) .