What’s the top strategic shift for Commerzbank at present?
Bettina Orlopp: AI will free up capacity for our relationship managers, but it's also a big lever for transformation: improving efficiency, and helping us to achieving our targets more quickly.
You need to review all your processes, products, infrastructure, and figure out where you could be faster and more efficient, and prevent fraud. And clearly, whether you can use AI to adjust every process that is repetitive, involves high data volumes, but is also pretty complex.
That’s one part of the story. As lenders, we also need to figure out who's impacted, who's fast, and who's lagging behind when it comes to the adoption of AI.
How is Commerzbank adapting to the shift to platform-based financing and tokenization?
Orlopp: We’re the first player in Germany to apply for a crypto custody license. We are also part of Project Agorá, a global initiative of financial institutions and central banks, that is looking at tokenized assets and digital assets. And we are part of stablecoin initiatives.
We see clients moving in this direction too, though more slowly than we thought. But I think it’s very important to invest in these different baskets and see what evolves.
“We’re the first player in Germany to apply for a crypto custody license.”
Dr. Bettina Orlopp, CEO, Commerzbank
What’s the current picture on banking consolidation and cross-border activity?
Orlopp: In Europe, with the non-existent banking union we have at present, cross-border synergies are limited. For that to change, we need to have a joint protection scheme and deposit protection scheme, among other things.
I'm a big fan of consolidation, but you have to look at every transaction to figure out whether it makes sense or not, while keeping all stakeholders on board.
How is sustainable finance evolving?
Orlopp: Clients still believe, as we do, that sustainability is important. But you can’t move from zero to 100 overnight.
We spend a lot of effort also financing sustainability, including support for corporates who are not perceived as green, but who are on a clear path towards transformation. That includes green bond issuances, and we see a demand for green mortgages. That story will continue.
How do you maintain competitive differentiation in disruptive times?
Orlopp: Banking is all about trust. Our corporate and mid-sized clients know that we are at their side for good and bad times. Our intensive care team helps clients who are struggling. In times like this, with lots of volatility and insecurity, clients value that.
“Our corporate and mid-sized clients know that we are at their side for good and bad times.”
Dr. Bettina Orlopp, CEO, Commerzbank
