Deutsche Bank has revealed next phase of its strategy, covering the period through to 2020, to invest up to EUR1bn over the next three to five years in digitization of its banking activities.

By orienting towards a more digital bank, Deutsche Bank will seek to capture new revenue opportunities through remote advisory channels and realize platform efficiencies through automated or digitized processes.

Through 2020, the bank plans to allocate more than a cumulative EUR1bn in its global transaction banking (GTB) platform and will increase leverage exposure by more than EUR50bn to support GTB’s business with corporate and financial institution clients.

The German lender aims to transform its operating model by simplifying its structure, strengthening its controls, targeting additional annual gross savings of EUR3.5bn by 2020 and will exit structurally unprofitable businesses.

The lender will refocus on its global footprint, reducing the number of countries or local presences by 10-15% besides reducing its branch network by up to 200 branches by 2017.

Deutsche Bank co-CEOs Jürgen Fitschen and Anshu Jain said: "Our course for the next five years is simple: we are focusing to deliver value. We are confident that, by 2020, Deutsche Bank will be better capitalized and less leveraged; more cost-efficient; well-funded; more value-creating for shareholders; and better governed, with stronger systems and controls."