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DEUTSCHE BANK

EXECUTIVE DOSSIER

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JohnAllenTechnology Director and Head of Data Analytics

John has over 20 years’ experience in IT digital transformation and building high performing global teams, most recently in the financial services sector, where he has successfully defined and led a variety of global digital, data and cloud change initiatives. He has a proven track record in IT Strategy Development, leadership & change management, technology strategy & CTO, big data & analytics/AI exploitation, cloud platform (Azure, GCP) migration, innovation, R&D & digital transformation, sourcing & vendor management, general management, coaching & mentoring, and disciplined portfolio, programme & project director (Agile).  

Education

He holds a BSc. in Computer Science from the University of Manchester.

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Work

Roles and Objectives

He was previously a Big Data Lead Architect for Finance and Reporting for Deutsche Bank. Here he was responsible for the implantation of an integrated risk and finance reporting platform. He has also worked at BAE Systems Applied Intelligence, Opsview, Fujitsu, Sony Interactive Entertainment Europe. Eurogamer, Volantis System, IBM and DBMX Ltd. 

• John Allen is the head of group-wide data analytics function at Deutsche Bank, supporting both business and infrastructure teams. The function uses data science and advanced big data analytics technology across a variety of use cases including revenue generation, cost avoidance, and risk reduction. John is responsible for a range of services for the business including analytics strategy, research and development, shared big data technology platforms, and agile, customer centric, project delivery.

• Built and led a group wide data science consulting service supporting all lines of business and infrastructure divisions. Service offered multiple delivery models, from prime & sub vendor to resource augmentation and consulting. Global team comprised of academics, employees and vendors to provide a range of functions including use case acceleration, ML model and big data solutions development, research and development, technology and operations, training and data science culture enablement.

• Deutsche Bank is one of the world’s largest financial institutions, with operations in 58 countries. It’s a universal bank with a rich heritage and operations across private and commercial banking, corporate and investment banking (CIB), and asset management (DWS).

• As an early adopter of data science, machine learning, and AI, the group-wide analytics function is trailblazing new ways to drive revenues, lower costs, and reduce risk across all areas of the group. John Allen shares how his team combines commercial offerings from vendors such as Cloudera and Red Hat with open source technologies such as Python and Kafka to revolutionize legacy processes and transform the way the bank uses technology to drive innovation. Discover how they have industrialized data science and advanced analytics across the group, embracing both experts and “citizen data scientists,” and helped Deutsche Bank become a leading data technology pioneer. 

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MeiyalaganKulandaiveluSAP GL & Reporting Lead at Deutsche Bank and SAP BW / HANA / BPC / BO Solutions Expert

SAP professional with rich experience in SAP BI, SAP BO, SAP HANA, SAP BPC NW and SAP ECC. At present, managing the SAP data warehouse and Analytics platform for Deutsche Bank.

Skills: Expert Consulting, Audits, SAP BI / BW / BO / HANA / Tableau / BPC implementations, Platform Maintenance, LSA++, SAP BW on HANA, Upgrade, Support, Trainings, estimation, POC’s, Client facing roles, competency building, SME, Resource & Vendor Management, Team management, white papers and team building activities. 

Education

He holds a Bachelors Degree in Electrical, Electronics and Communications Engineering from PGP College of Engineering and Technology.

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Work

Roles and Objectives

SAP experience is backed by rich Consulting experience with SAP consulting delivering SAP analytics & planning solutions for several large Organizations (Infosys, ONGC, HCL, TATA.... etc) and mixed by equal experience with managing SAP analytics & planning platforms for Banking giants (Barclays & Deutsche Bank). Successfully lead and completed more than 15 full cycle of Implementation projects in SAP. This had helped him to approach the opportunity / problem from the business, stability & value perspective. 

Responsible for delivering HO & Local Regulatory Reporting, Cost Reporting and Global Procurement Reporting & Analytics from a Central SAP BW / BI / HANA instance (leveraging LSA++ Architecture) sourcing data across 5 SAP ECC, SAP MDG, SAP ARIBA systems and some of the legacy systems having different business processes, data structures, continents and time zones.

Key focus Areas: 

• Working with key Business & Finance Stakeholders, identify the opportunities/problems where BI can be leveraged for value creation. 

• Develop Standards for Design and Development based on the best practices, process improvements for the platform. Build a process & platform to reduce the time to market and production stability.

• Manage the high performing team and Optimization of Team Structure & delivery to the needs. 

• Application Lifecycle Management: Implementation to Application Support along with Improvements. 

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JorisHensenFounder and Co-Lead of Deutsche Bank API Program

Joris Hensen became enthusiastic about innovations and future trends at a very early stage and in 2012 he was given the responsibility to set up a corporate foresight program for Deutsche Bank in which future scenarios and innovation strategies were developed. As part of this, he became a guest lecturer at the Zeppelin University in Friedrichshafen on the topics of foresight, innovation and design. What once began as a foresight scenario was officially launched in November 2017 as Deutsche Bank API Program. It offers external partners the opportunity to connect personalized apps and services via the API of Deutsche Bank (dbAPI), thus opening up new areas of value creation and revenue streams for Deutsche Bank. The goal of the API Program is to enable a platform business and to position Deutsche Bank as a market leader in Open Banking. 

Work

In his more than ten years at Deutsche Bank, he has worked in various international projects as a project and innovation manager. 

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Roles and Objectives

Publications

Joris Hensen is responsible for the development of the Deutsche Bank API Program, which he co-founded at the beginning of 2015.  They have created the Deutsche Bank API Program to serve their customers while making their business easier and more successful.

Their dbAPI lets you: 

• grow and scale your user base by connecting with millions of Deutsche Bank customers 

• offer personalized features and services to Deutsche Bank customers 

• build AI applications based on Deutsche Bank customer data 

• go beyond the regulatory scope of PSD2 

• use ready-made API Products that help you fulfil your customer needs 

The Open Banking Interviews: Joris Hensen, Founder and Co-Lead API Program, Deutsche Bank

At Money2020, in Amsterdam, I had the pleasure to talk to Joris Hensen, Founder and Co-Lead of Deutsche Bank’s API Program. We discussed on how Deutsche Bank looks at Open Banking and how this may affect the way bank data can be consumer for good. We are quickly approaching the deadline of PSD2 to provide APIs for new players in the market who wish to access customers’ accounts for account information and

for payments initiation. Are you on schedule to be ready for the deadline of 14 September?

At Deutsche Bank we look at the bigger picture today. Our journey started already in 2015, when PSD2 was still far away. We quickly realised that Open Banking is an opportunity for us to facilitate the development of new products and services with the help of banking data. These products can be developed by third parties for the benefit of their customers and our customers at the same time. We believe that Open Banking will accelerate the process of delivering products, and it will create a wider range of products and services the customer can choose from. The life of a bank customer does not evolve around traditional banking products only, but it is about the daily decisions as well as the decisive moments in their life.  Open Banking is a way to serve the customer in those moments together with third party providers. Of course, we also included PSD2 in the development stream. We are already testing since March, according to the mandatory timeline. But our assignment is more about leveraging the potential of using bank data and services far beyond banking and PSD2.

Do you see Open Banking more like a data business or an API business? Or should we interpret it as two elements that are in balance and that need to be combined to truly benefit from Open Banking?

The way we look at it is that APIs are the technical enablers. APIs is what you need to use banking data outside of banking systems. And we talk about API products, which means that we bundle data to serve a specific use case. Take the example of our ‘age check’, which can be found in a plug-in for e-commerce shops so that customers don’t have to provide all their ID details to buy fireworks for example. Neither the date of birth nor the specific age of our customer will be shared. The only information shared — on behalf of the customer — is a true or false value if the person is above a specific age. Nevertheless, the vendor fulfils the legal requirements to sell the fireworks. It is really about creating new products and services out of bank data. That is why we talk to industries beyond the banking industry. We recently had a fruitful discussion with an IoT provider to see how we can collaborate. Our aim as a bank is to become a life companion for our customers.

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Indeed, I guess that is the way to go. With IoT that is now in full development we will see more and new discussions. That is where Open Banking becomes extremely relevant, isn’t it?

We see no limits regarding possibilities or dimensions. More important from our perspective is that third parties understand what they can do with banking data. Educating the market is one of the biggest challenges for financial institutions. Often (prospect) partners are really surprised to hear that we have a developer portal already live. At the beginning of the discussion, they have no idea what to do with banking data. Mostly such conversations conclude with the most innovative use cases.

Next level Open Banking: what do you see as the key trends for 2020 and beyond for consumers?

Open Banking is still in an early stage. That is also what Innopay presented at Money20/20. I’m not sure what people will answer on the street when you ask them what Open Banking really means to them. The Banking Scene conducted a survey on 2,000 consumers and found out that of the 1,000 Belgian consumers we asked only 2,6% knew what PSD2 is about. That is indeed what I would also have expected. It is probably the same for Open Banking. Consumers are likely be interested in practical apps and services where they can use their bank data. So we need more use cases to make them aware of the advantages of using their data outside the bank. For instance, we have a partnership with a German start-up that has developed an app called Finanzguru. They take my transaction data and provide me with an overview of all my contracts, along with the possibility to quickly terminate them and exchange for a better contract. This case shows how we really can help our customers. Finanzguru provides additional information, like how much money you will likely have at the end of the month and gives you hints on how to save money. To come back to your earlier question: I think the trend will be to transfer such use cases from traditional banking into other industries. This is what we call Beyond Banking — to define a further trend we see. Open Banking should be about enabling the consumer to control his/her data, to take it with him/her. We call it ‘Data to Go’. The customer alone decides which applications he/she wants to use and determines what data to share. With these possibilities also comes responsibility for us as

banks to provide high security standards such as which partner can get which data, instead of providing the whole set of data.

Do you see other trends for SMEs? Are there any different key trends to consider for 2020 and beyond?

For enterprises, it is similar in terms of accessing account information. In particular, this is relevant for the smaller companies without big ERP systems. It is an important market. I might be a user of Finanzguru and aside from my personal financial behaviour, it may also change my behaviour as a professional when I have a small company. So, this confirms that consumer trends will influence the SME trends and vice versa.

The last big segment is the one of big multinational corporates, who do have ERP systems, and also other needs, in international trade, cash management… Do you see any opportunities here as a result of Open Banking? We initially focused on retail banking, but I agree that APIs facilitate more efficient and better processes and services for big corporate clients as well. For financial services companies, for example, Open Banking will enable easier access to other countries. It is a huge leverage for growth for this kind of companies. For companies with huge treasury departments, the focus rather lies on efficient processes. On the transaction banking side, we are already working with APIs and we have a lot of discussions with treasurers to understand their specific business needs. 

One last question: how do you see banks realising a return on investment on the Open Banking projects? 

I see three dimensions here:

• a monetisation of premium APIs • maybe more important one, is to increase

loyalty of existing customers • attracting new customers thanks to a broad

digital offering.

With such an offering, you can surely reduce the acquisition cost and keep customers loyal. This way you start distinguishing yourself from competition. Suddenly Open Banking becomes an enabler of new revenue streams and business models. 

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Frank PohlgeersHead Chief Digital Office Global

Frank Pohlgeers has been working for Deutsche Bank for more than 20 years and was a key contributor in setting up the Chief Digital Office for the retail division in 2015. He is a member of Deutsche Bank and Private, Wealth and Commercial Clients. And in that division, he is a member of the digital innovation area. In that area, amongst other activities, he is in the process of expanding their product and service portfolio of offerings by adding new, as they say, banking but also beyond banking products to the offerings to their clients in order to, therefore move into new business models and new fields of self-starting generation. 

Education

He holds a Diploma in Economics from Hochschule Niederrhein.

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Work

Roles and Objectives

Frank Pohlgeers has been working for Deutsche Bank for more than 20 years.

Pohlgeers is responsible for Open Banking strategy as well as product management for new digital products and services in the private customer segment of Deutsche Bank. Pohlgeers is also part of the Executive Working Group of the World Economic Forum in the context of platform economics and is responsible for Deutsche Bank’s research collaboration with the Massachusetts Institute of Technology (MIT) in Boston, USA. 

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NealPawarChief Information Officer, Deutsche Bank AG

Deutsche Bank hired Neal Pawar as Group Chief Information Officer. He will be based in New York and report into Bernd Leukert. Pawar will also join the Group Management Committee.

Education

He holds a Bachelors Degree from Brown Univeristy

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Roles and Objectives

Pawar joins from AQR Capital, the investment management firm, where he was most recently a Principal and Chief Technology Officer. Prior to AQR, Pawar was Managing Director and Chief Information Officer for UBS Wealth Management in Zurich, and a partner responsible for technology at the New York based quantitative firm D.E. Shaw & Co. 

“In our recent strategy update we identified technology as a cornerstone for success,” said Frank Kuhnke, Group Chief Operating Officer. “Someone of Neal’s calibre and experience deciding to join Deutsche Bank further strengthens our capabilities as we modernise and simplify our technology for the benefit of our clients. Having announced Bernd Leukert as our future Management Board Member responsible for Technology, Data and Innovation, Neal represents another key hire who will complement the experts we have at the bank.” Deutsche Bank continues to invest in making its technology more effective and efficient. Earlier this year, the bank deployed its first in-house application in the public cloud and was awarded a Red Hat Innovation Award for its industry-leading Fabric platform. 

Publications

Newly appointed Deutsche Bank chief information officer who's joining just as the bank prepares to spend an additional €13bn on technology as part of the new strategy unleashed last week by CEO Christian Sewing. Some of that €13bn is likely to cover tedious things like software amortisation and core systems modernisation, and Pawar won't be spending it on his own. - He'll be overseen by Bernd Leukert, who's joining from SAP in September as a board member responsible for technology, data and innovation, and he'll be assisted by the likes of Scott Marcar, the chief information officer at Deutsche's investment bank. Even so, Pawar will have power. And if you want to work in tech at Deutsche Bank, it will help to get to know him well. Here, then, is a quick Pawar primer.

• Pawar is a technologist and an actor- Pawar studied a double major in computer science and theatre at Brown University. Aged 17, he traveled around India with an acting troupe and put on a play about racism in South Africa. He also played the part of a teenage Jawaharlal Nehru in a Bollywood film. Pawar has said his theatrical past allows him to better empathize with people using the software platforms he builds.

• Pawar is a very dedicated Liverpool football fan- Pawar grew up in Milton Keynes and likes to watch Liverpool play. He has been known to take his mother to matches. You don't want to

disclose a liking for Manchester United.

• Pawar wants to hire passionate coders - It's probably the case that all senior tech people say this, but when he was at AQR, Pawar said his priority was hiring coders with passion and an interest in the finance industry. "We want people that love programming.... people that really enjoy writing code and designing systems," he told Waters Technology two years ago. "We're looking for people who are curious rather than anything else."

• Pawar says experienced coders can be motivated by exciting projects - AQR isn't exactly Deutsche Bank, but its platform had to evolve all the same. When he worked at AQR, Pawar said he enthused experienced people with promises of "upgrading our system from front to back." Expect something similar at Deutsche Bank. 

• Pawar has come from a very open-source oriented environment  - Banks today are on Github, but not to the extent of most other industries. - Deutsche Bank's Github page is a pretty dead place, although the bank is making 150,000 lines of its Autobahn code public. Deutsche could come as a shock to Pawar, given that AQR has been a big Github contributor with tools like the Pandas data analysis community.  “This is a firm that writes academic papers about its strategies,” Pawar told Waters Technology in 2015. “You look at our industry in general, and you see it more as a closed industry. There is a lot of secret sauce. We’re writing papers about our secret sauce.” He added that at AQR writing software was seen, "as a craft." Deutsche Bank could be in for a culture change. 

• Pawar is big on cloud computing and data visualizations - Deutsche Bank isn't commenting on what Pawar is up to but the expectation is that he will focus on Deutsche's use of the cloud, which was an area he championed at AQR. 

• Pawar is used to working with Bengalaru-based programmers to implement new systems - As part of its technology review, Deutsche Bank intends to "internalize" 5,000 contractors and make them into full time employees. This doesn't mean those new roles will come to London or New York. Deutsche Bank already has technology centres in Pune and Bangalore, as well as Romania, and roles are likely to go there instead.  The same applies to any new cloud and data-oriented jobs.  At AQR Pawar oversaw the opening of a Bangalore office with 150 quantitative engineers and data scientists who built a cloud-based platform, including the fund\s trading systems, data and visualization tools.  

• Pawar is going to be all over Deutsche's investment bank- Lastly, it's worth noting that Pawar is not the sort of technology hire who will be happy to tinker with retail banking in Germany. As well as working for AQR, he's worked for hedge fund DE Shaw, where he re-engineered middle and back office technology and operations. During his time at UBS, he worked on a major electronic banking project in APAC. Pawar specializes in big transformational projects. His time in tech at Deutsche Bank is unlikely to pass quietly - but many people, including his new colleagues, would argue that's no bad thing.