Deutsche Bank has hired two executives to fill newly created positions meant to foster development of fintech products.

Elly Hardwick has been named head of innovation, which includes oversight of Deutsche Bank Labs, and Philip Milne has been appointed as chief technology officer for innovation.

Hardwick is the former CEO of Credit Benchmark, a provider of consensus credit risk information, and before that she was global head of strategy, investment and advisory at Thomson Reuters. She has also worked for Morgan Stanley. Hardwick will "work closely with fintechs and the bank's business divisions to drive the adoption of new technology solutions," Deutsche Bank said in a news release Monday.

Milne joined Deutsche Bank in early November from a Silicon Valley virtual reality startup and will act as a liaison between Deutsche Bank Labs and the bank's wider technology organization. He was also a member of the founding teams that created the Android platform at Google and the Java platform at Sun Microsystems, according to the bank.

Hardwick will be based in London and Milne in Palo Alto, Calif. Both will report to JP Rangaswami, the chief data officer and head of strategy and innovation for the bank's chief operating office.