Top 10 Fintech Innovation Labs | 3: Deutsche Bank Innovation Labs

In May’s edition of FinTech Magazine, we counted down our top 10 fintech innovation labs, in at number 3 is Deutsche Bank Innovation Labs.

Deutsche Bank’s concept for its innovation lab is a simple one: provide opportunities for startups by connecting them to key decision makers within its wider organisation.

Taking a careful approach which selects the key emerging tech trends and then intelligently implements them into bespoke solutions for clients, the bank is able to maintain an imaginative, agile and optimised method of working.

"I really think the relationship between financial technology startups and big banks has changed. Both sides have matured substantially and they realize they need each other This isn't about fending off fintechs as competitors, but rather improving our position as a partner to fintechs and as an innovator in our industry." 

- Elly Hardwick, Head of Innovation at Deutsche Bank, speaking to Business Insider in 2017 

The main advantage of Deutsche’s lab is the influence and available resources it can present to a prospective startup, thus shortening the road from ‘idea’ to ‘deployment’ in a way which most other companies could not achieve.

Why should startups work with Deutsche Bank Innovation Labs?

For startup partners who can successfully address its demand challenges, it provides:

• Access to influencers and decision makers across the bank’s global units

• Resources to refine and develop accepted products to meet the bank’s needs

• Support in the integration of external technologies and services into the bank’s ecosystem