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September 30, 2016updated 04 Apr 2017 1:22pm

Deutsche Bank launches digital factory in Frankfurt

Deutsche Bank has opened its digital factory in Frankfurt to discover and evaluate new ideas, and translate these ideas into real products and services for its clients.

By Verdict Staff

Deutsche Bank has opened its digital factory in Frankfurt to discover and evaluate new ideas, and translate these ideas into real products and services for its clients.

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The facility currently houses about 400 software developers, IT specialists and financial experts from 14 nations. Plans are on to double the headcount by 2018, the bank said.

It also hosts 50 additional workstations reserved for fintech startups.

Deutsche Bank head, private, wealth and commercial clients corporate division Christian Sewing said: "Today's opening of the Digital Factory is a further milestone on Deutsche Bank's journey to become a technology company. We don't want to be driven by digitalisation; we want to be in the driver's seat. The number of successful players in the banking industry will fall. Only the fastest among them will gain market share."

The bank has also signed a partnership deal with the Massachusetts Institute of Technology to foster new ideas.

Deutsche Bank member of the management board and group COO Kim Hammonds said: "The Digital Factory is the nucleus where we are designing and executing in an agile setting. The focus of our technologists and engineers is on speed and implementation, which means short development cycles. This agile approach is essential in today’s dynamic and fast changing world."

The German banking group has similar technology centres in New York, London and Berlin. The launch of the Frankfurt factory comes months after the company scrapped its plan to open a digital bank in the US.

Free Whitepaper
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Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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