Deutsche Bank Enables Messaging Platforms with a Reach of 3+ Billion Users

To simplify and improve its client interactions through secure and compliant channels, Deutsche Bank announced today, it has enabled the Symphony Connect Solution for secure chat and collaboration with its clients via WhatsApp.

The bank stated that following the successful introduction of the WeChat functionality in November 2019, more than 3 billion users can now securely and safely communicate with Deutsche Bank employees, who are restricted in the platforms they can use due to regulatory requirements.

Through Symphony, Deutsche Bank can communicate with clients anytime, anywhere via their preferred chat platform while meeting stringent security and Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term criteria, such as surveillance and data retention.

This latest development, co-innovated with Symphony, expands Deutsche Bank’s diversification of its client interaction platforms, in addition to traditional methods such as email and telephone calls, the bank revealed.

Covid-19 impact

The ongoing COVID-19 pandemic has brought into sharp focus how important it is for banks to stay in close contact with clients to provide advice and expertise during this challenging period.

“An important part of our technology strategy is to enable our people to securely meet our clients at a time and place of their choice, and bringing together Symphony and WhatsApp is a truly innovative way to do so,” said Bernd Leukert, chief technology, data and innovation officer at Deutsche Bank.

“Our existing and potential clients want to discuss their options with us. The integration of WhatsApp with Symphony means we, and other businesses in the bank, can make interactions with our clients even easier when they need us most,” Stefan Hoops, head of the corporate bank at Deutsche Bank, added.

Addressing industry-wide challenges

David Gurlé, Symphony founder and CEO noted that Symphony is committed to providing technologies that are aligned with our customer’s strategy while addressing industry-wide challenges such as security and compliance.

“We are proud to have developed Symphony Connect Solutions that support Deutsche Bank’s digital offering,” he said.

The Connectivity Connectivity Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Read this Term with Facebook’s WhatsApp is offered as part of the Symphony Connect Solutions suite, aimed at enabling customers to interact more easily with their clients, counterparties, and partners, which also includes an interoperability for WeChat, Community Connect and Customer Connect.

Deutsche Bank is a founding consortium member of Symphony and has participated in a number of funding rounds since its inception helping to grow and scale the platform.