Deutsche Bank starts Deutsche Network Services in Bangalore
Our
Banking Bureau
14 July 2003
 Bangalore:
Deutsche
Bank has announced the inauguration of Deutsche Network
Services Pvt Ltd (dNETS) in Bangalore, marking the bank's
first step into business process outsourcing (BPO) in
India. A wholly-owned subsidiary of Deutsche Bank, dNETS
will initially commence a pilot processing centre in Bangalore
for global cash operations and electronic payment processing.
dNETS
will process payment transactions for Deutsche Bank entities
around the world including those located in New York,
Frankfurt, London and several Asian countries. Initially,
electronic payments processing will be undertaken in US
dollars and euro and will eventually broaden to include
other currencies.
Operating
from over 16,000 square feet of space and with state-of-the-art
technology and IT support, dNETS is located in the International
Tech Park in Whitefield in Bangalore and will commence
with approximately 50 employees. It is anticipated that
staffing levels will grow to several times initial levels
by the end of 2004.
Says
Deutsche Bank chief information officer (global transaction
bank IT / operations) Wolfgang Gaertner: "Deutsche
Bank continually reviews all options including hubbing
and outsourcing to obtain maximum leverage for our IT
and processing expenditure. This allows us price our products
competitively and to meet the highest levels of client
expectation in service delivery. India has proven its
ability to provide high-quality, cost-effective, IT-processing
solutions, within a conducive business environment and
with an impressive pool of well-trained and high-calibre
professionals."
Adds
Deutsche Bank head of cash operations (Asia Pacific) Roopa
Sethuram: "dNETS will give Deutsche Bank additional
capability to provide optimal financial solutions to our
clients. From the very start, dNETS has been designed
around the six sigma framework in order to deliver a clear
focus on providing the highest service standards, as well
as to achieve best in class cost performance. The entire
dNETS project was made a reality in less than 90 days,
making it one of the fastest BPO project executions of
its kind in India."
Says
Deutsche Bank global head of bulk payments and EDI operations
Graeme Hosking: "dNETS illustrates the bank's ability
to combine its global strengths in effective processing
solutions, with local Indian expertise. As the first example
of a wholly-owned offshore operation for Deutsche Bank
in Asia, it clearly shows our continued commitment to
expand our operations in India. The quality of this development
makes me confident that dNETS will add considerable benefit
to our global network."
With
roughly $802 billion in assets and approximately 70,900
employees, Deutsche Bank offers its 13-million clients
unparalleled financial services in 76 countries throughout
the world. The bank aspires to be a leading global provider
of integrated financial solutions for demanding clients
and the pre-eminent bank in Germany generating exceptional
value for its shareholders and people.
Deutsche
Bank ranks among the global leaders in corporate banking
and securities, transaction banking, asset management,
and private wealth management, and has a significant private
and business banking franchise in Germany and other selected
countries in Continental Europe.
 In
Asia Pacific, Deutsche Bank has over 30 offices in 15
countries with more than 5,900 staff. In India, the bank
employees around 480 people and operates branches in Bangalore,
Chennai, Kolkata, New Delhi and Mumbai with representations
in all the major business areas.
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