German multinational Deutsche Bank has announced plans to hire 1,000 tech professionals in India in 2021. The Bank has already hired 300 out of the 1,000 hires from top engineering institutes in the country, with an expected date of joining in July. The remaining 700 new hires will be lateral hires. The Bank reportedly has an employee base of about 4,000 between its Bengaluru and Pune tech centres.
The German bank visited nearly 40 campuses this year. Some of the regular campuses include IITs, NITs, and BITS Pilani. Deutsche Bank launched a special graduate programme in India in 2017,with 57 graduates that nearly tripled to 150 within a span of three years.
Reportedly, tech graduates undergo two six-month job rotations and participate in a one-year global continuous development programme, post which they receive their final placements. Through the programme, graduates sharpen their skills as full-stack developers to gain broader understanding of various aspects of tech development.
Deutsche Bank’s India 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. With COVID-19 accelerating the use of digital signatures across the bank’s multiple stakeholder groups, the teams in India ensure that digital signatures are adopted and integrated into business processes and workflows.
“Our software engineers in India are working on the bank’s top 50 programmes and 60% of our 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,” said Ash Malik, Head of India technology centres in Deutsche Bank.
Malik added that Deutsche Bank India has a “coveted design and architecture club which has 12-15 architects. Employees in the firm can get their solutions, design and code reviewed by this crack team of technologists.”
In 2019, Deutsche Bank had committed to investing about €13 Bn on IT between 2019 and 2022 to accelerate its shift into newer digital models.
The announcement was followed by a strategic, multi-year partnership between Deutsche Bank and Google Cloud to accelerate the bank’s transition to the cloud and co-innovate new products and services. “Everybody will be put through training on Google Cloud including the leadership teams in India. We will peak somewhere around 2023 when we will have a large-scale migration to the cloud. We are building a pool of cloud-ready talent to navigate a hybrid cloud environment,” he said.
As Deutsche Bank elevates its technological capabilities and offerings, it goes without saying that talent will be a crucial enabling factor in the scale of transformation the bank aspires to achieve. With a robust hiring plan unfolding through the year, the bank is all geared up to accelerate its journey of innovation and growth.