Why banks matter

… for the platform revolution


The platform economy is revolutionising the world of finance. Some say it threatens banks’ very existence. But many banks see the competition from firms like Facebook, Alibaba and Amazon as an opportunity, and they are responding by forging alliances and overhauling their business models.

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Why non-banks are offering financial services and banks are becoming platforms.


Intuitive digital services and powerful platforms are putting pressure on traditional banking. This is compelling banks to reconsider their own business models and help shape the digital transformation.

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Are “jack-of-all-trades” banks set to vanish?


The traditional value chains of banks are breaking up, and big tech companies are stepping in as potential competitors and partners, says Jesse McWaters, who heads the Disruptive Innovation in Financial Services project at the World Economic Forum.

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Insights from Deutsche Bank


Photo of Elly Hardwick

Risk culture or conviction?

Economy ViewsElly Hardwick, Deutsche Bank’s Head of Innovation, compares corporate and startup cultures, and explains how the two can work together to prosper in the platform economy.

Watch video (2:24 min)
Photo of Kim Hammonds

“What a bank needs to become is a platform company.”

Economy ViewsBanks are leveraging technology and partnerships with fintech companies to drive efficiency and growth and to provide better services for customers, says Kim Hammonds.

Watch the video (2:27 min)

“We believe banking will more and more become a platform industry in the future. The companies that are best positioned are the ones that have direct access to the customer — and their trust. We have taken the first steps to transform our business into a platform, a frictionless one-stop shop for our clients’ financial needs and beyond.”

— Christian Sewing, Chief Executive Officer, Deutsche Bank

Baffled by blockchain?

Explore the hub for the latest Deutsche Bank insights and research about crypto-currencies, blockchain and bitcoin.

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Photo of Geoffrey Parker and Markus Pertlwieser

“Traditional firms don't have to be left behind.”

Economy StoriesGeoffrey Parker from MIT's Initiative for the Digital Economy and Deutsche Bank's Chief Digital Officer Markus Pertlwieser agree: companies that tap into underserved markets and understand their customers can thrive in the platform revolution.

Watch video (3:58 min)
Image from Deutsche Bank API explainer video

Customer data, unleashed

ExplainerDeutsche Bank’s Application Programming Interface (API) lets bank customers share data with third-party applications, giving them access to powerful digital services. Customers retain complete control of what data gets shared with whom and when.

Watch video (1:33 min)
Photo of Elly Hardwick

Risk culture or conviction?

Economy ViewsElly Hardwick, Deutsche Bank’s Head of Innovation, compares corporate and startup cultures, and explains how the two can work together to prosper in the platform economy.

Photo of Geoffrey Parker and Markus Pertlwieser

“Traditional firms don't have to be left behind.”

Economy StoriesGeoffrey Parker from MIT's Initiative for the Digital Economy and Deutsche Bank's Chief Digital Officer Markus Pertlwieser agree: companies that tap into underserved markets and understand their customers can thrive in the platform revolution.

“We believe banking will more and more become a platform industry in the future. The companies that are best positioned are the ones that have direct access to the customer — and their trust. We have taken the first steps to transform our business into a platform, a frictionless one-stop shop for our clients’ financial needs and beyond.”

— Christian Sewing, Chief Executive Officer, Deutsche Bank

Baffled by blockchain?

Explore the hub for the latest Deutsche Bank insights and research about crypto-currencies, blockchain and bitcoin.

Visit website (opens in new tab)
Image from Deutsche Bank API explainer video

Customer data, unleashed

ExplainerDeutsche Bank’s Application Programming Interface (API) lets bank customers share data with third-party applications, giving them access to powerful digital services. Customers retain complete control of what data gets shared with whom and when.

Photo of Kim Hammonds

“What a bank needs to become is a platform company.”

Economy ViewsBanks are leveraging technology and partnerships with fintech companies to drive efficiency and growth and to provide better services for customers, says Kim Hammonds.

Revolutionary.


Digital transformation is already underway. Platforms have started impacting business models and markets.

0 %

of people surveyed think that companies offering financial services should be regulated just as strictly as banks. In Germany, it’s even 75 %.

Source: Deutsche Bank Group Brand and Market Research international survey of 3,500 people, Dec. 2017

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Solutions.


Platforms are not just where buyers meet sellers; they also bring ideas to investors. Together, they can realise projects that protect our climate, keep our food safe or provide energy.

0 trillion

USD is the minimum amount needed every year until 2030 to achieve the 17 United Nations Sustainable Development Goals.

Source: United Nations Environment Programme (UNEP)

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Risk.


Personal data is the digital economy’s greatest asset. Banks protect their client data better than most other industries – an essential competitive edge during this time of digital change.

0%

of Europeans believe their data is completely secure at banks; only 22% of those surveyed thought the same about technology companies.

Symantec State of Privacy Report 2015

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