Deutsche Bank has begun using social media feeds such as Twitter and LinkedIn as part of its search to recruit promising millennials who might be interested in a career within the financial services sector, reports the Financial Times.
According to the business daily, Germany’s biggest bank launched a programme late last year to monitor the online activity of university students. The aim is to identify individuals who might prove a good fit for the bank, but would not apply through traditional channels such as on-campus recruitment drives.
The FT reports that over the first two weeks of the initiative in late November, a special team at Deutsche Bank identified 250 potential hires. They were then encouraged to take part in the bank’s UK graduate recruitment programme.
The scheme, described as the first of its kind for a bank, was adopted in response to top graduates’ increasing disinclination to pursue a career in banking. Executives also believe that broader skills and experience could benefit banks by producing a staff more adept at challenging existing practices and innovating.
Faye Woodhead, Deutsche’s head of graduate recruitment and human resources, told the FT that the bank launched a recruitment drive among students in certain clubs and societies at about 30 UK universities from which it already recruits.
It then uses social media to develop a profile of the students it wished to target, similar to the digital headhunting widely used for hiring experienced professionals.
Using data for predictive analytics is the future of banking success, argued Jean-Laurent Bonnafé, CEO of BNP Paribas, in his session on how the bank is reinventing its approach to innovate with and for corporates.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.