Deutsche Bank and Data Labs in “ground breaking” big data project
Deutsche Bank keen on big data
Deutsche Bank says it has “stepped up its big data efforts” with the launch of new analytics capability for its securities services business.
The enterprise analytics capability, “which collates and analyses millions of lines of data daily to identify opportunities for efficiencies in the bank’s and its clients’ securities settlements”, has been developed together with Dublin-based Data Labs.
The launch is “the fruit of agile delivery and close collaboration” between the two parties, and “includes consolidating data from a complex landscape of systems and databases onto a new scalable platform and then integrating it with business analytics capabilities”.
The offering will be live in November 2018, starting with the German market. “The platform represents a key step towards unlocking the value of Deutsche Bank’s huge repository of transaction data, which details the holdings and movements of cash, securities and other instruments in and out of client accounts,” the bank says.
For example, one initial use case identified includes analysing clients’ intraday cash liquidity utilisation, providing valuable insights that enable them to optimise their available liquidity, reduce their funding costs and maximise their returns on cash.
“This is a ground-breaking launch for Deutsche Bank and the wider banking industry,” says Fiona Gallagher, Deutsche Bank’s head of GTB Securities Services. “There has been a lot of media attention surrounding technology companies moving into the banking space but this move sees us flex our own muscles when it comes to an area traditionally in the technology domain.
“We have the data, we have the technological and analytical capabilities via our data labs and of course, we have the banking expertise – putting us in a strong position to dig into client data in a way that’s yet to be fully explored in securities services,” she states.
“Next on the agenda for data analytics is ensuring we can identify and understand the drivers behind settlement fails – a key part of achieving settlement efficiency. This is increasingly important following the introduction of the penalty regime under Central Securities Depositary Regulation (CSDR).”
