Deutsche Bank says that the bank plans to start a multi-year initiative in 2010 to replace individual software solutions in its home market by a new core banking system based on SAP for Banking solutions. A letter of intent has already been signed by the bank and SAP Deutschland AG & Co.KG. but financials have not been disclosed.
The SAP implementation will underpin the bank’s strategy to push for standardization of processes. The bank is also looking to achieve greater flexibility in its IT infrastructure, building on standardized, modular SAP software functions within a service-oriented architecture (SOA). Using SAP software, Deutsche Bank aims to boost efficiency and profitability as well as to accelerate time to market in rolling out new products and services. The new core banking system will include partner data, payments, account management and savings applications.
“IT is a business driver and catalyst. It ought to be flexible, cost-efficient and scalable in order to support business growth,” said Hermann-Josef Lamberti, Deutsche Bank's Chief Operating Officer. “We are looking forward to shaping the industry and setting new standards to manage processes and services even more consistently and efficiently with a new core banking system. SAP’s solution portfolio offers the core banking functionality to improve our effectiveness at all levels.”
“The initiative at Deutsche Bank is a significant achievement for SAP, proving our strength in the banking space and our expertise to address their business demands,” said Léo Apotheker, CEO, SAP AG.
