Deutsche Bank and SAP today announced that the bank plans to start a multi-year initiative in 2010 to replace individual software solutions in its home market with 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. Financials have not been disclosed.
The bank says this SAP implementation will underpin its strategy to standardize processes and improve flexibility in its IT infrastructure, building on modular SAP software functions within a service-oriented architecture. Using SAP software, Deutsche Bank aims to boost efficiency and profitability as well as to accelerate time to market of new products and services. The new core banking system will handle 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, in a statement. "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."