Deutsche BankDeutsche Bank has launched its first innovation hub named ‘Blue Water Fintech Space’ in China to bolster its digital offering to clients in the Asian country as well as facilitate partnerships in the FinTech community.

The hub, which will be based out of Shanghai, will be run by a dedicated innovation and digital solutions team, the German multinational investment bank said.

The Blue Water Fintech Space will build on “Innovation-as-a-service” concept, providing clients with new ideas through digital workshops, proof of concept roadshows, incubation of FinTech projects. They will also delve into solutions driven by design thinking, artificial intelligence, robotic solutions, biometric technology and Internet of Things.

“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. 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,” said Dirk Lubig, Deutsche Bank Head of Corporate Bank China.

The hub will also be responsible for enhancing the bank’s service capabilities in China, serving to create an eco-system for integration of global resources within Deutsche Bank’s businesses and locations, while increasing its connectivity with the fintech community, the bank added.

“The Blue Water Fintech Space will allow us to deliver best in class solutions and stay ahead of our competitors. It also supports our goal to become a more agile and digital organization, which we see is critical in the new environment,” said David Lynne, Asia Pacific Head of Corporate Bank.

“China is the perfect place to continue this journey given its fertile ground for innovation,” he said.

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by Krishna V Kurup
Senior Market Analyst at IBS Intelligence
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