Deutsche Bank Adopts SAP Core Banking Solution

by CXOtoday Staff    Jan 27, 2010

Deutsche Bank and SAP AG today announced 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.

Financial details have not been disclosed.

With SAP implementation,  the bank said, it is looking to achieve greater flexibility in its IT infrastructure, building on standardized, modular SAP software functions within a service-oriented-architecture (SOA).

Deutsche Bank also aims to boost efficiency and profitability as well as to accelerate time to market in rolling out new products and services to even better serve the bank’s clients.

"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 L o Apotheker, CEO, SAP AG. "Leading banks globally are looking to SAP to help them better position themselves in the market using IT that will help them gain a competitive edge."

The SAP core banking system shall comprise partner data, payments, account management and savings applications.