Frankfurt, Germany based Deutsche Bank infused Rs 2,700 crore into its India operations in August to enhance its corporate, investment and international private banking.
Digital transformation is at the heart of these expansion plans, with the bank actively investing in new technologies and forming new partnerships.
In July this year, for example, Deutsche Bank announced a strategic tie-up with Google Cloud to accelerate its cloud migration and transform its IT architecture. Through the partnership the company will utilise Google’s expertise in handling cash flow forecasting, improve risk analytics and focus on advanced security solutions to protect clients’ accounts.
“We are analysing individual areas and internal support functions and trying to create a roadmap of applications that can be slowly moved into the public cloud,” Dilipkumar Khandelwal, global chief information officer for corporate functions and the global head of technology centres at Deutsche Bank told TechCircle.
One of the first key tasks for Khandelwal is to deal with data silos and utilise automation and AI (artificial intelligence) to make sense and derive actionable insights from the data.
In this interview, Khandelwal also spoke about the use of automation in fraud detection and how the company uses APIs to move away from traditional waterfall models of application development.