The move is part of a wider drive into AI at the bank, which has 16,000 staff working on tech, data and innovation
Deutsche Bank is testing out artificial intelligence tools that aim to detect possible signs of misconduct from the tone of traders’ phone conversations.
Lenders globally are looking to make monitoring more effective, as stakes are getting high following government crackdowns on impropriety. Total fines paid by financial institutions for the use of unofficial communication channels like WhatsApp have exceeded $2.5 billion since December 2021. Deutsche is training the AI using recordings of existing calls between traders, so it becomes familiar with the language they use and the norms of conversation. The software will direct analysts to areas of interest, and humans will make the ultimate judgements about how to proceed.
The Frankfurt-based financial giant has about 16,000 staff working on tech, data and innovation, about half of whom are engineers working on code, and it’s looking to hire more. Deutsche is among the top five lenders for AI recruitment, according to consultancy Evident, posting around 1,300 AI-adjacent roles from February until April.
Other lenders are using Google Cloud technology to turn unstructured data such as traders’ text messages and call transcripts into forms that can be searched more easily, according to Zac Maufe, global head of regulated industries at Google Cloud.
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