German Deutsche Bank opens innovation lab in New York to help drive fintech

Deutsche Bank, a German global banking, and financial services company, announced that it has opened an innovation laboratory in New York City that makes its fourth, globally.

The fintech innovation lab will explore new technologies that are focused on various areas including artificial intelligence, cloud technology, blockchain technology and cyber security, among others.

It will be located at the Lower Manhattan’s Fulton Center and will enable banks to access leading innovation ecosystem in one of the largest financial hubs, the release stated.

“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,” Elly Hardwick, Head of Innovation at Deutsche Bank, said.

The new fintech innovation lab is the fourth following Deutsche Bank Labs in Silicon Valley, Berlin, and London. These labs work on three principal goals namely to help the bank evaluate and adopt emerging technologies, to develop a culture of innovation and contribute to the bank's digital strategy.

Evaluating the technology solutions from the four fintech innovation hubs, the lab staff applies the best of these to address business challenges and opportunities within the bank.