Stefan Schaffer Appointed CEO of Deutsche India

Deutsche Bank named Stefan Schaffer as the new chief executive officer of Deutsche India, its global capability centre on Monday. He will also serve as the global CIO for corporate functions and head of the bank’s technology centres.

Schaffer takes on these roles with a strong background in technology, start-ups, and consulting. Since joining Deutsche Bank in 2020, he has held key leadership positions in the bank’s technology, data and innovation division.

In his most recent role, Schaffer was responsible for shared applications and services. He led projects aimed at simplifying the bank’s technology systems and promoting the use of common tools and platforms across the organisation.

Earlier, he was head of the Bucharest Technology Centre and president of the board of directors in Romania. During that time, he played a major role in expanding and improving the centre.

“Stefan brings a wealth of experience and a deep understanding of diverse business cultures and complex operational environments,” the bank said in a statement.

Deutsche Bank described his appointment as part of its effort to strengthen its global capabilities and continue its focus on technology-driven growth.

Meanwhile, at the ‘Bank on Tech’ event in Bengaluru, Deutsche Bank showcased its innovative AI-driven solutions developed by its India-based team, highlighting their growing impact on the banking industry. 

Among these innovations is dbTextract, a powerful document processing tool capable of handling 4,000 pages per minute with 97% accuracy, significantly reducing processing time by 40%. 
Since its launch in April 2024, it has already processed nearly six million pages, ensuring both efficiency and security with a built-in verification system.