Deutsche Bank has moved to expand its client communication channels enabling them to chat securely using WhatsApp under its latest partnership with Symphony.
The investment bank has integrated WhatsApp into its communication channels with the Symphony platform so it can chat securely with clients at any time while meeting compliance criteria such as data retention and surveillance.
“Our existing and potential clients want to discuss their options with us,” Stefan Hoops, head of corporate bank at Deutsche Bank, commented. “The integration of WhatsApp with Symphony means we, and other businesses in the bank, can make interactions with our clients even easier when they need us most.”
The integration of WhatsApp marks the latest collaboration between Deutsche Bank and messaging systems specialist Symphony. Last year, Deutsche Bank introduced WeChat to communicate with clients in Asia as it looked to provide a more digital client experience.
Deutsche Bank stated that the uncertainty surrounding the global COVID-19 pandemic has increased the need for around the clock communications with clients through a variety of messaging platforms.
“An important part of our technology strategy is to enable our people to securely meet our clients at a time and place of their choice, and bringing together Symphony and WhatsApp is a truly innovative way to do so,” says Bernd Leukert, chief technology, data, and innovation officer at Deutsche Bank.
Deutsche Bank is a founding member of Symphony and has participated in several funding rounds to help grow the platform. Founded in 2014, Symphony gained major investment during its first few years in business from 15 financial institutions, including Goldman Sachs, JP Morgan, HSBC, Morgan Stanley, Credit Suisse, Bank of America and Deutsche Bank.