Deutsche Bank will Increase its Tech Hiring in India

Deutsche Bank will expand its technology workforce in India, as the German financial services firm focuses on strengthening its in-house engineering and IT capabilities and conducting more strategic technology research.

"With our technology strategy, which will be launched in 2019, we want to strengthen engineering and IT architectural excellence in Deutsche Bank, and we need to have these capabilities in-house," said Bernd Leukert, the bank's chief technology, data, and innovation officer, during a recent visit to India.

In the last two years, the bank's headcount in India has more than doubled to 5,000, primarily in technology but also in other roles. This year, it will hire another 2,500 people to "cater to growth and backfill roles," he said.

India is currently home to a third of its total tech workforce.The decision to outsource tech development and increase tech hiring came at a time when the rest of the bank was restructuring and downsizing.

Given the quality of technology and engineering skills available in India, Leukert believes it is the obvious place to expand its presence. "We decided to expand into technology hubs, and India is now our largest." "It's not so much about gaining cost advantages as it is about the technology talent that we see in India," he explained.
The India technology centre now offers services across a wide range of business areas and is at the forefront of development in areas such as cloud, machine learning, artificial intelligence, and remote work.