Deutsche Bank accelerates the opening of its IT systems to third-party providers

Published 

Deutsche Bank has accelerated the opening of its IT systems to third-party service providers across its corporate and investment banking and private and commercial banking divisions. The bank is building an “ecosystem” of application programming interfaces (APIs), which will enable third-party providers such as FinTechs to develop new services and applications using the bank’s client data. In doing so, the bank aims to establish the broadest possible range of applications linked to its data and systems – expanding beyond traditional financial services.

“Companies such as SAP, Amazon and Apple have created ecosystems around their platforms and systems, allowing third parties to play in their gardens,” said Thomas Nielsen, Chief Digital Officer at Deutsche Bank’s Global Transaction Bank. “The financial services industry is now undergoing the same evolution.”

“This gives banks much greater potential for innovation and growth than they can generate by being single product-oriented. This will play a central role in driving the platform economy in banking,” adds Nielsen, who sees numerous opportunities for applications serving commercial clients right across cash and risk management, trade finance and securities services.

Deutsche Bank’s investment bank is building on the existing Deutsche Bank Application Programming Interface (dbAPI), which was successfully launched in the private and commercial arm of the bank in 2017, and which is already linked to numerous external applications.

This is part of the bank’s open banking strategy, which encourages partnering companies to generate complementary and innovative products and services. These partners may be financial service providers that want to enhance existing applications with the aid of bank data, or firms that want to build completely new solutions based on that data.

With the help of Quantiguous Solutions, a Mumbai-based software company acquired by the bank in May this year, Deutsche Bank will accelerate the development and adoption of APIs globally.

Most recent episodes

£15 Billion Stimulus Pumped into UK Economy to Ward Off Recession Fears

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th June...

04:44

Advantage Treasury

Eleanor Hill is joined in the virtual TreasuryCast studio by Nicolas Cailly and Philippe Penichou (Societe Generale) to look at treasury trend predictions for the remainder of 2022, with a particular focus on virtual accounts. In this deep dive into current and future treasury priorities, our guests...

24:22

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY's distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event, explain...

09:58

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI's Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI's Editor, Eleanor Hill, to explore the very latest treasury trends - and to discuss how smart treasurers can get ahead of th...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI's Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14

The 3 T’s of The Future: Tech, Treasury, and Transformation

Over the past two years, an increasingly dynamic environment has not only accelerated technology development – from quantum computing to blockchain technology, and even the metaverse – but also technology adoption, bridging colleagues and breaking down silos in a remote work world. In this podcast,...

44:02

Monetary Policy Continues to Drive Markets as Ukraine Invasion Weighs on March Meetings

Welcome to the second edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 3rd of...

05:25