Deutsche Bank continues FinTech drive with NY innovation lab

Deutsche Bank is continuing to press its FinTech credentials with the opening of new innovation lab in New York City.
By Paul Walsh

Deutsche Bank has boosted its FinTech presence with the opening of its fourth innovation lab, in New York City.

The lab in Lower Manhattan’s Fulton Centre will focus on areas including artificial intelligence, cloud technology and cyber security.

The bank says its aims are to evaluate and adopt emerging technologies, develop a culture of innovation and contribute to the bank’s overall digital strategy.

It also aims to increase the bank’s access to the innovation ecosystem of New York.

The lab is the fourth of its kind for Deutsche Bank along with labs in Silicon Valley, Berlin and London.

Deutsche Bank increased its FinTech interests at the end of 2016 with the appointments of former global head of strategy, investment and advisory at Thomson Reuters, Elly Hardwick as head of innovation.

Philip Milne was also appointed as chief technology officer (CTO) for innovation. 

“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,” said Hardwick.