The Zhitong Finance App learned that Deutsche Bank (Deutsche Bank) has launched a locally deployed (locally) artificial intelligence platform for investment banks and capital market teams in Europe and North America, which allows bankers to use AI tools without transferring sensitive data to the bank's internal systems. The platform was provided by New York fintech startup Farsight and installed in partnership with Deutsche Bank. Farsight announced the partnership on Tuesday (10/13). The platform operates within Deutsche Bank's own technology environment, and sensitive data, proprietary knowledge and work processes remain within the bank.
The platform can combine Deutsche Bank's past project results, internal standards and proprietary data, and be tailored to the formats, processes and requirements of each team. Bankers can generate and modify promotional materials and other customer documents through a conversational interface, and the system will continue to learn based on user feedback. The platform embeds PowerPoint, Excel, Word, email and web interfaces in a back-office format to create pitch decks (pitch decks), confidential information memorandums (CIM), internal memorandums and financial models.
George Tierney, managing director and global chief operating officer of the M&A business at Deutsche Bank, said, “Our team has very specific standards for the content submitted to clients, and the standards vary from group to group.” He pointed out that for strictly regulated global enterprises, balancing control and customization when using AI is the key.
Samir Dutta, co-founder and CEO of Farsight, said that the bank spent decades building proprietary data, workflows, and professional judgment, all of which shaped the way the team works. Farsight's approach is to keep this knowledge within the organization while incorporating it into the team's process of using AI. Founded in 2022, Farsight is headquartered in New York and serves investment banks, private equity, hedge funds and corporate development teams.
This deployment is part of Deutsche Bank's recent series of technological upgrades. The bank signed a ten-year agreement with British fintech company Thought Machine in August of this year to use its cloud-native core banking system Vault Core to support all personal banking and wealth management business banking and loan products in Germany. The system migration will be carried out in stages starting in 2027, and GFT Technologies will be responsible for system integration. Deutsche Bank plans to streamline its core banking system from 15 to 2, and Vault Core is the first platform selected.