Deutsche Bank’s tech centres in India will be hiring 1,000 employees this year to expand its in-house engineering capabilities. Of the 1,000, it has already recruited over 300 graduates from top engineering institutes in India, and they are set to join the bank in July.
Ash Malik, head of India technology centres in Deutsche Bank, told PTI that their software engineers in India are working on the bank’s top 50 programmes and 60% of the people are focused on engineering. “Some of the platforms that we support in India include those for big data and analytics, the data lake platform, and the HR, credit risk and market risk platforms.”
Malik said the Indian tech team has contributed to developing big data and high performance computing architectures to simulate methodology for value at risk (VAR), an important market risk measure, which sees the bank’s portfolios being repriced daily using historical simulations over a given period. “The teams in India ensure that digital signatures are adopted and integrated into business processes and workflows.”
Malik highlighted that Deutsche Bank India has a coveted design and architecture club which has 12 to 15 architects. Employees in the firm can get their solutions, design and code reviewed by this crack team of technologists. In 2020, Deutsche Bank said its committed to spending a total of 13 billion euros on IT from 2019 to 2022 to accelerate its shift into newer digital models. In the same year, Deutsche Bank and Google Cloud entered into a strategic, multi-year partnership to accelerate the bank’s transition to the cloud and co-innovate new products and services.
“The partnership redefines how products and services will be delivered. Everybody will be put through training on Google Cloud including the leadership teams in India,” Malik said. “We will peak somewhere around 2023 when we will have a large-scale migration to the cloud.”
The bank is building a pool of cloud-ready talent to navigate a hybrid cloud environment.