The launch of the new lab is part of the bank’s strategy to digitalise services and adopt new technologies. Besides Singapore, the bank has innovation labs in Berlin, London, New York, and Palo Alto.
The Asia Pacific Innovation Lab will focus on identifying best start-up opportunities across the region to scale globally across the bank’s platform. Deutsche Bank’s innovation labs associate with startups and utilise their technologies in its business. The bank utilises a systematic Venture Capitalist engagement programme to evaluate the fintechs brought by the startups with accordance to their need. Subsequently, it invests in the promising fintechs.
Recently, it invested in Modo for digital payments and Quantiguous Solutions for open banking. To date, Deutsche Bank has communicated with more than 3,000 companies and has delivered solutions across banking segments including retail, wealth, compliance and operations.
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