Deutsche bases new core banking system on SAP

Mumbai: Deutsche Bank and SAP AG 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 between both of them.

The bank is looking to achieve greater flexibility in its IT infrastructure, building on standardized, modular SAP software functions within a service-oriented architecture (SOA). The new core banking system shall comprise of 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. 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,” said Hermann-Josef Lamberti, COO, Deutsche Bank.

“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. Leading banks globally are looking up to SAP to help them better position themselves in the market using IT that will help them gain a competitive edge,” said Leo Apotheker, CEO, SAP AG.