Deutsche Bank opens Shanghai fintech space

German lender Deutsche Bank announced on Wednesday the launch of its first innovation hub, known as Blue Water Fintech Space, to accelerate its digital and innovative offering to clients in China, and facilitate partnerships with the financial technology community.

Based in Shanghai, the newly-introduced fintech space is positioned as the innovation arm of Deutsche Bank’s Corporate Bank in China and will be centered around both client needs and business requirements.

Building on the concept “innovation-as-a-service”, the German bank aims to provide clients with new ideas in the space though digital transformation workshops, proof of concept roadshows, acceleration and incubation of fintech projects as well as deep-dives into cutting-edge solutions driven by design thinking, artificial intelligence, robotic solutions, biometric technology and the Internet of Things.

“China is one of the leading countries globally fronting the digital banking era and it is a vibrant market for fitnech developments and innovations,” said Gao Feng, Deutsche Bank’s chief county officer for China.

“The establishment of our Blue Water Fintech Space in Shanghai is a great endeavor, especially given the strategic importance of China to Deutsche Bank’s global footprint,” he noted.