Deutsche Bank Bases New Core Banking System on SAP
Leading Bank Targets Cost-Efficiency and Standardization With SAP® for Banking Solutions
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 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. Financials have not been disclosed.
The SAP implementation shall underpin the bank’s strategy to push for a high degree of industrialization and 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 to even better serve the bank’s clients. The new core banking system shall comprise 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. “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.”
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About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 78,530 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
This release also contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 24 March 2009 under the heading "Risk Factors." Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir .