由于高度契合金融业务需求，云计算加速在金融领域得到广泛应用。支付 结算、数字信贷、投资顾问等数字金融服务与大模型等创新金融云融合应 用，促进了金融数据的云上流通。应积极借鉴美国、欧洲国家金融云应用 发展经验，加大云上金融产品和服务的研发力度，平衡技术创新和监管挑 战，加快构建金融行业云安全体系。 随着数字技术的发展，金融云作为一种新兴的金融服务模式，正深刻改变金融行业的格局。其在提高金融服务效率、降低 成本、创新业务等方面具有显著优势，受到全球金融机构的广泛关注。我国以银行为代表的金融机构对云服务的应用已较 为普遍，但距离常态化云使用仍须较长发展时间。对比欧美等国金融云应用发展，我国金融机构加速采用云服务仍面临安 全性及监管合规挑战，如何在鼓励金融科技创新的同时保障金融稳定，监管政策和导向还须持续探索。 金融行业云服务应用模式 文/清华大学五道口金融学院金融发展与监管科技研究中心研究专员 庞鑫 ，清华 大学五道口金融学院博士生 郝超凡、郭琬盈 根据美国国家标准与技术研究院(NIST)的定义，云计算是一种通过网络方式按需付费的方式获取计算资源（包括网络、服 务器、存储、应用和服务等)的共享的、可配置的资源池，并 ...

Core Insights - The article emphasizes the importance of consulting a registered financial advisor before making investment decisions, highlighting that the content does not constitute financial advice [2][3] Group 1 - The article clarifies that past performance is not indicative of future results, stressing the uncertainty inherent in investment outcomes [3] - It notes that the views expressed may not represent the opinions of the entire platform, indicating a diversity of perspectives among analysts [3] - The article mentions that analysts contributing to the platform may not be licensed or certified, which could affect the reliability of the information provided [3]

Group 1 - The individual has been investing since 2011, focusing on REITs, preferred stocks, and high-yield bonds, indicating a long-standing interest in markets and the economy [1] - Recently, the investment strategy has evolved to include long stock positions combined with covered calls and cash secured puts, reflecting a more sophisticated approach to investing [1] - The primary focus of coverage on Seeking Alpha includes REITs and financials, with occasional insights on ETFs and other stocks influenced by macroeconomic trends [1] Group 2 - The analyst has disclosed a beneficial long position in the shares of Deutsche Bank (DB), indicating a personal investment interest in the company [2] - The article expresses the analyst's own opinions and is not influenced by compensation from any company mentioned, ensuring an independent perspective [2]

Core Viewpoint - Deutsche Bank reported a significant decline in fourth-quarter 2024 earnings, with a profit attributable to shareholders of €106 million ($113 million), down 92% year over year [1] Financial Performance - The bank's profit before tax was €583 million ($621.9 million), a decrease of 16.5% year over year, impacted by specific litigation items related to the Postbank takeover [2] - Net revenues for the quarter were €7.2 billion ($7.7 billion), reflecting an 8% increase year over year, driven by strong growth in commissions and fee income [3] - Non-interest expenses rose to €6.2 billion ($6.6 billion), up 14% from the prior-year quarter, primarily due to increased general and administrative expenses [3] - Adjusted non-interest expenses were €5.3 billion, down 1% from the prior year [4] - Provision for credit losses was €420 million ($448 million), down 14% from the prior-year quarter [4] Segmental Performance - Corporate Bank net revenues were €1.9 billion ($2 billion), down 2% year over year due to lower net interest income [5] - Investment Bank segment saw net revenues of €2.4 billion ($2.6 billion), up 30% year over year, driven by growth in Fixed Income and Currencies, and Origination & Advisory [5] - Private Bank's net revenues were flat at €2.4 billion ($2.6 billion) year over year [6] - Asset Management reported net revenues of €709 million ($756.3 million), a 22% increase year over year due to higher performance and transaction fees [6] - Corporate & Other segment had negative net revenues of €99 million ($105.6 million), compared to negative $64 million in the prior-year quarter [6] Capital Position - The Common Equity Tier 1 capital ratio was 13.8% as of December 31, 2024, slightly up from 13.7% in the previous year [7] - The leverage ratio on a fully loaded basis increased to 4.6% from 4.5% year over year [7] 2025 Outlook - Deutsche Bank aims for €32 billion ($34.1 billion) in revenues for 2025, reaffirming its revenue growth ambition aligned with a CAGR target of 5.5-6.5% from 2021 to 2025 [8] - Projected provision for credit losses is expected to be between €340-€400 million ($362.7–$426.7 million) per quarter [8] Overall Assessment - A strong balance sheet and revenue growth are expected to support Deutsche Bank's financials, although elevated expenses may hinder bottom-line growth [9]

Core Viewpoint - Deutsche Bank is focused on enhancing efficiency through cost-cutting measures, including workforce reduction, technology investment, and potential business unit closures [1][2]. Cost-Cutting and Efficiency Measures - The bank aims for a year-over-year revenue increase of 2 billion euros (approximately $2.1 billion) while maintaining flat adjusted costs, having already achieved 1.67 billion euros in savings by eliminating 3,500 roles, primarily non-client-facing positions in high-cost areas [2][3]. - In 2024, Deutsche Bank hired 1,300 technology specialists and added 400 roles aimed at revenue generation to support long-term cost improvements and growth [3]. Personal Banking Division Transformation - Deutsche Bank is undergoing a significant efficiency transformation in its Personal Banking division, which began in 2021, involving a review of its service model and branch footprint, resulting in the closure of 400 branches since 2021, including 125 in 2024 [4][5]. - The bank is also closing a mid-double-digit number of smaller branches in Germany while introducing new formats and technologies, enhancing its capacity for video and telephone advice, and investing in its app and digitization efforts [5]. Profitability and Business Review - Profitability and higher returns, particularly in German Personal Banking, are top priorities, with plans to streamline the branch network and modernize brands while leveraging synergies from a unified IT environment [6]. - The bank has initiated reviews in certain lending portfolios, such as mortgages, and is already observing benefits from these strategic choices [7].

Core Insights - The article discusses the author's extensive experience in investment banking and private equity consulting, highlighting a focus on risk-assets, particularly in growth, contrarian, and emerging markets [1]. Group 1 - The author has 10 years of experience as an investment analyst for a major BB-Bank and as a private equity consultant for MBB [1]. - The author is currently pursuing the CFA charter, having completed Levels I and II [1]. - The author expresses a passion for risk-assets, specifically in growth, contrarian, and emerging markets [1].

Core Viewpoint - Deutsche Bank reported weaker-than-expected profits for the fourth quarter of 2024, significantly lower than analyst forecasts [1][2]. Financial Performance - Net profit attributable to shareholders for the fourth quarter was 106 million euros ($110.4 million), falling short of the forecasted 282.39 million euros [1]. - This represents a substantial decline from the 1.461 billion euros achieved in the third quarter [1]. - Revenue for the fourth quarter reached 7.224 billion euros, slightly above the analyst poll estimate of 7.125 billion euros [2].

Group 1 - Deutsche Bank is focusing on strengthening its fixed-income trading business in the Americas as part of its investment banking expansion strategy, aiming for a 20% revenue increase from 2023 to 2027 [1] - The bank has achieved significant success in Asia and Europe, ranking among the top three banks in those regions, but it is currently lagging in the Americas [1] - As of the first nine months of 2024, the investment banking division accounted for 33.8% of Deutsche Bank's total net revenues, with Fixed Income, Currency (FIC) Sales & Trading contributing over 80% of that division's revenues [1] Group 2 - Deutsche Bank's long-term goal is to be among the top five banks in the United States, aligning its status with its success in other global markets, and it has been restructuring its investment banking operations since 2019 [2] - Over the past year, Deutsche Bank shares have increased by 26% on the NYSE, outperforming the industry's growth of 12.6% [3]

Core Viewpoint - The SEC has taken enforcement action against Deutsche Bank Securities for failing to file Suspicious Activity Reports (SARs) in a timely manner, emphasizing the importance of timely reporting in combating financial crimes [8][10]. Group 1: Regulatory Findings - From April 2019 to March 2024, Deutsche Bank Securities failed to complete SAR investigations in a reasonable timeframe, with at least two cases taking over two years to file [2]. - The SEC alleged that Deutsche Bank Securities did not include important required information in multiple SARs filed over a four-year period [3]. - The enforcement action is part of a broader initiative by the SEC, which has also charged other broker-dealers for similar deficiencies in SAR filings [6][11]. Group 2: Penalties and Settlements - Deutsche Bank Securities agreed to pay a civil penalty of $4 million to settle the SEC charges related to the untimely filing of SARs [8]. - The company accepted a censure and a cease-and-desist order without admitting or denying the SEC's findings [4]. Group 3: Broader Implications - The SEC's actions serve as a warning to other market participants about the critical nature of timely SAR filings in the context of anti-money laundering efforts [10].

Core Viewpoint - The Securities and Exchange Commission (SEC) has charged Deutsche Bank Securities Inc. for failing to timely file Suspicious Activity Reports (SARs), resulting in a $4 million civil penalty to settle the charges [1][4]. Group 1: Regulatory Context - Broker-dealers are mandated by the Bank Secrecy Act and U.S. Treasury regulations to file SARs for transactions suspected of involving illegal funds or lacking lawful purpose [2]. - The SEC's order indicates that Deutsche Bank Securities received requests related to law enforcement investigations that necessitated SARs investigations [3]. Group 2: Investigation Findings - From April 2019 to March 2024, Deutsche Bank Securities failed to conduct or complete SARs investigations in a timely manner, with at least two instances where filings took over two years [3]. - The SEC emphasized the importance of timely SAR filings, stating that stale information is of limited use to law enforcement [4]. Group 3: Enforcement Actions - Deutsche Bank Securities has agreed to a censure, a cease-and-desist order, and the civil penalty without admitting or denying the SEC's findings [4]. - The investigation was conducted by various SEC officials and was supervised by the Associate Director of the SEC's New York Regional Office [5].