AI cuts some Deutsche Bank corporate loan decisions to minutes

Frankfurt, October 26 - AI is revolutionizing Deutsche Bank's corporate loan processes, cutting decision-making time from weeks to mere minutes for smaller firms, its chief technology officer Marie-Jeanne Deverdun revealed to Reuters. The technology, launched this summer, also reduced the time needed for major corporate lending from months to weeks, according to Deverdun, who recently assumed her role on Deutsche Bank's management board.

For smaller corporations, the turnaround time between weeks and minutes, she explained in an interview. Deverdun also hinted at a future where AI agents would engage directly with clients' agents, as financial institutions grapple with the rapid advancement of AI technology. The bank is closely monitoring this development, Deverdun noted, emphasizing the importance of managing cyber risks as a top priority.

Regulators are also intensifying their efforts to mitigate AI-related risks as banks accelerate their adoption of the technology while balancing concerns about profitability and security threats. Deutsche Bank, Germany's largest lender, is set to allocate over €2.5 billion ($2.80 billion) to technology spending between 2026 and 2028, a sum dwarfed by JPMorgan's $20 billion budget for the same period.

While banks anticipate AI to reduce costs and enhance productivity, some major US institutions have taken steps to curb AI agents' access to customer accounts, citing potential threats to the banking system and customer wealth. Deutsche Bank CEO Christian Sewing aims to transform the bank into a fully AI-powered entity, following his predecessor's criticism of the company's disjointed and incompatible systems dating back to 2015.

After relocating tech staff out of Russia due to the Ukraine war, Deutsche Bank is working to streamline its platforms, though progress remains ongoing. Deverdun revealed that Deutsche Bank has developed an internal AI platform called ADA, named after computing pioneer Ada Lovelace, to oversee AI agent activity, manage risks, and switch between AI models as needed.