In Mumbai, German lender Deutsche Bank will focus on the digital channel instead of the branch model to grow its business in the country, a top official said.
Changes in RBI rules imposing geolocation restrictions during client onboarding will help, said Kaushik Shaparia, CEO, Deutsche Bank Group, India.
"If the regulator allowed digital access beyond geographical restrictions, I am convinced we can do more.
"Currently, there are restrictions on where clients can be onboarded, where their locations are and the client must have an office close to one of their locations, etc.," he said on the sidelines of a banking event here.
When asked about the branch strategy in the country, Shaparia quipped that "geography is history" and added that the bank's aim will be to focus more on digital.
"Maybe in the past, having a strong branch strategy was critical, but with digitalization, geography has become history. So I think our approach would be more digital," he said.
Currently, the bank has 17 branches and one unit in GIFT IFSC in the country. It also relies on the Indian workforce at global capability centers (GCCs) to deliver a host of other innovations and work for its global operations, making India home to the largest number of employees outside its headquarters in Germany. , with more than 20,000 professionals.
Shaparia said the GCCs in Mumbai, Jaipur, Pune and Bengaluru support the group's operations across 48 countries through business engineering, modelling, quantitative analysis, extensive structuring and research to deliver innovative financial solutions.
It is worth noting that many foreign lenders are relying on the digital channel to grow their businesses in India, rather than expanding branch presence. The regulator has also been pushing for such lenders to operate as a wholly owned subsidiary rather than the branch model.
Meanwhile, as part of its social commitments under the corporate social responsibility mandate, the lender opened an evening learning center exclusively for lesbian, gay, bisexual, transgender and queer people to help the community progress on the formal educational front.
The center in Sion in central Mumbai will be followed by a similar facility in Ghatkopar, and there will be another learning center in Pune for all members of the society, Shaparia said.
Under its diversity, equity and inclusion focus, the lender also has a defined approach to hiring LGBTQIA+ employees, which includes participating in career fairs and raising awareness through campus engagements.
Changes in RBI rules imposing geolocation restrictions during client onboarding will help, said Kaushik Shaparia, CEO, Deutsche Bank Group, India.
"If the regulator allowed digital access beyond geographical restrictions, I am convinced we can do more.
"Currently, there are restrictions on where clients can be onboarded, where their locations are and the client must have an office close to one of their locations, etc.," he said on the sidelines of a banking event here.
When asked about the branch strategy in the country, Shaparia quipped that "geography is history" and added that the bank's aim will be to focus more on digital.
"Maybe in the past, having a strong branch strategy was critical, but with digitalization, geography has become history. So I think our approach would be more digital," he said.
Currently, the bank has 17 branches and one unit in GIFT IFSC in the country. It also relies on the Indian workforce at global capability centers (GCCs) to deliver a host of other innovations and work for its global operations, making India home to the largest number of employees outside its headquarters in Germany. , with more than 20,000 professionals.
Shaparia said the GCCs in Mumbai, Jaipur, Pune and Bengaluru support the group's operations across 48 countries through business engineering, modelling, quantitative analysis, extensive structuring and research to deliver innovative financial solutions.
It is worth noting that many foreign lenders are relying on the digital channel to grow their businesses in India, rather than expanding branch presence. The regulator has also been pushing for such lenders to operate as a wholly owned subsidiary rather than the branch model.
Meanwhile, as part of its social commitments under the corporate social responsibility mandate, the lender opened an evening learning center exclusively for lesbian, gay, bisexual, transgender and queer people to help the community progress on the formal educational front.
The center in Sion in central Mumbai will be followed by a similar facility in Ghatkopar, and there will be another learning center in Pune for all members of the society, Shaparia said.
Under its diversity, equity and inclusion focus, the lender also has a defined approach to hiring LGBTQIA+ employees, which includes participating in career fairs and raising awareness through campus engagements.
