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Tag: Deutsche Bank


Regulations

Germany’s BaFin warns Deutsche Bank of potential fines if it doesn’t improve money laundering controls

February 20, 2024

Via: FinTech Futures

The regulator has extended the stay of its special representative at Deutsche Bank until 30 October 2024 to report on and assess the progress of the bank’s implementation of safeguards against money laundering and terrorist financing. The representative was first […]


Activity, Investment Banking, News

Deutsche Bank to cut 3,500 roles over two years amid €2.5bn savings drive

February 5, 2024

Via: FinTech Futures

The German investment bank says the cuts will mainly apply to “non-client-facing areas” as it looks to streamline its business in Germany and lower its annual total operating cost to €20 billion by 2025. Deutsche Bank currently employs around 90,000 […]


News

Deutsche Bank plans to cut Postbank branch network by nearly half

November 1, 2023

Via: FinTech Futures

Claudio de Sanctis, the bank’s head of private banking, confirmed that the number of Postbank branches would be whittled down to approximately 300 during an interview with the Financial Times this week. Of the 300 remaining locations, 100 are expected […]


Regulations

SEC hands $25m penalty to Deutsche Bank subsidiary for AML violations and ESG “misstatements”

September 26, 2023

Via: FinTech Futures

The first addresses DIMA’s “failure” to create a mutual fund anti-money laundering (AML) programme, while the second concerns “misstatements” regarding the firm’s environmental, social and governance (ESG) investment processes. Gurbir Grewal, director of the SEC’s division of enforcement, states that […]


Regulations

Deutsche Bank fined $186m by US Federal Reserve

July 20, 2023

Via: FinTech Futures

The Fed says it found that Deutsche Bank made “insufficient remedial progress” in fixing its anti-money laundering controls after initially flagging concerns with the bank back in 2015 and 2017. It adds that Deutsche Bank “had deficient anti-money laundering internal […]


Regulations

Deutsche Bank applies for crypto custody license

June 21, 2023

Via: Banking Dive

Deutsche Bank has applied with regulators to operate a crypto custodian, CoinDesk reported Tuesday. The move came on a day a previously announced U.S.-based crypto exchange, EDX Markets — launched by Charles Schwab, Fidelity Digital Assets and Citadel Securities — […]


News

Deutsche Bank set to spare traders as it prepares more job cuts

February 2, 2023

Via: American Banker

Deutsche Bank is preparing further job cuts to keep costs in check, with the focus likely to be areas outside the trading unit. Meeting expense targets in an inflationary environment will require a redoubling of savings efforts, including job cuts, […]


Capital and Risk, Operational

Deutsche Bank partners Nvidia to advance the use of AI in financial services

December 7, 2022

Via: FinTech Futures

Together, the two firms aim to combine their expertise to develop applications that will improve risk management, boost efficiency and enhance customer service using Nvidia AI Enterprise, an end-to-end software suite for AI development and deployment. The partnership will also […]


News

Bankers told they can ignore binding fossil-finance restrictions

October 18, 2022

Via: American Banker

The world’s biggest climate coalition for bankers says it has the right to ignore a proposal that would require members to phase out the financing of fossil fuels. Tracey McDermott, chair of the Net-Zero Banking Alliance, said in a letter […]


Capital and Risk, Operational

Deutsche Bank partners Fiserv to launch SME payments and banking solution Vert

October 17, 2022

Via: FinTech Futures

Vert is the only German provider that combines the two payment and banking services, “meeting market demand” for an integrated offering, Deutsche Bank says. The new platform also offers next-day banking-day pay outs, providing merchants with faster access to their […]


Regulations

Deutsche Bank Investors Can Sue in U.S. Over Epstein, Russian Oligarch Ties

June 14, 2022

Via: Insurance Journal

A U.S. judge on Monday said shareholders can sue Deutsche Bank for allegedly hiding shortfalls in its internal controls while doing business with risky, ultra-rich clients like the sex offender Jeffrey Epstein and Russian oligarchs. U.S. District Judge Jed Rakoff […]


Regulations

Police raid Deutsche Bank, DWS over reports of greenwashing

May 31, 2022

Via: Banking Dive

Tuesday’s raid follows a probe the Securities and Exchange Commission (SEC) launched in August into allegations of greenwashing by DWS, The Wall Street Journal reported. That investigation came shortly after Fixler went public with allegations the asset manager misled investors […]


Regulations

Deutsche Bank fined $9.8 million by BaFin for control lapses

December 29, 2021

Via: American Banker

Germany’s finance watchdog fined Deutsche Bank 8.66 million euros ($9.8 million) over its handling of submissions for Euribor, a reference rate at the heart of a scandal that rocked the industry. The lender temporarily didn’t have effective systems and controls […]


News

Deutsche Bank boosts online payments with Better Payment acquisition

September 23, 2021

Via: FinTech Futures

Deutsche Bank is to acquire online payment platform Better Payment, to expand its market share in payment processing and acceptance. Over the next 12 months, the Berlin-based paytech’s technology will be integrated into the financial services giant’s product range. Deutsche […]


Channels

Six global banks endorse Swift’s new platform for international payments flows

June 30, 2021

Via: FinTech Futures

Bank of China, BNY Mellon, BNP Paribas, Citi, Deutsche Bank and Standard Chartered have all confirmed they’re making preparations to adopt the platform. Swift has recently rolled out a new roadmap for the platform, claiming it will allow banks “to […]


News

Architecture heads at Deutsche Bank and JP Morgan leave months into their jobs

June 28, 2021

Via: FinTech Futures

Deutsche Bank has seen head of group architecture, John Smith, depart to join IHS Markit. Smith arrived at Deutsche from NatWest Markets in March, but is headed out after less than four months. Once CIO at NatWest, Smith has a […]


Capital and Risk, Operational

Deutsche Bank partners Oracle to upgrade its IT systems

June 25, 2021

Via: FinTech Futures

The agreement will see Deutsche Bank upgrade its existing database systems and migrate the bulk of its Oracle Database estate to the cloud with Oracle Exadata Cloud@Customer. Oracle says the move “will provide a dedicated platform to support and scale […]


Activity, Corporate Banking

Fiserv, Deutsche Bank team up in German market

June 22, 2021

Via: Payments Dive

Brookfield, Wisconsin-based Fiserv has been building up its Clover business ever since it acquired the business as part of its 2019 purchase of First Data. That combination enlarged Fiserv, making it the fifth-largest U.S. merchant payment acquirer last year, based […]


Activity, Investment Banking

Deutsche Bank reports its best quarterly profit for seven years

April 28, 2021

Via: CNBC

LONDON — Deutsche Bank on Wednesday reported a 908 million euro ($1.1 billion) profit for the first quarter, buoyed by continued strong performance in its investment banking division. The bank vastly exceeded analyst expectations for net income of 642.95 million […]


Capital and Risk, Operational

Deutsche Bank and TIS sign treasury deal

March 22, 2021

Via: FinTech Futures

The two firms are working on a “combination of complimentary capabilities” to create “new and innovative products and services”. A primary focus is on payment fraud prevention combined with the TIS cloud platform. It will “leverage the knowledge of all […]