• Kathy Keppeln
  • Head of Regulatory Strategy & Oversight
  • Deutsche Bank AG, Germany
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There are a lot of scary sounding letters and numbers coming to banking - GDPR, MiFID2, PSD2 just to name a few. What do you think should be our readers extra careful about and why?

The banking industry has seen a long period of new regulations and their evolution. In many Financial Institutions this was changing/influencing client and product as well as investment and capital decisions, and was taking its toll on profitability and efficiency in the sector. Therefore, I think it is important to keep business processes and models in focus by balancing stakeholder demand in parallel. New and innovative technology solutions will continue to develop and will most likely play an increasingly important role in enabling that.

Some of these regulations are focused on data security of your clients. Can you give us a sneak peek how are you [are] dealing with this at DB?

We treat the data security focused regulations with the same seriousness and energy as other material banking related regulations. GDPR will come into effect by May 25th, 2018. DB has a comprehensive project approach with cross-divisional teams focusing on all aspects of the regulation.

Regulations are and always will be present in banking. What do you think will be the next big regulation impacting this industry?

While we see the stream of new, post-financial crisis regulation slowly reducing, it is far from being over. Some major parts of regulation are still in preparation, especially Basel IV, and others are under review for updates, like the European Market Infrastructure Regulation (EMIR). In addition, newly emerging topics with regard to digital innovation require regulation to further develop.