Deutsche Bank cites progress in technology revamp at retail division
FILE PHOTO: The Deutsche Bank headquarters tower, in Frankfurt, Germany, July 22, 2026. REUTERS/Tilman Blashofer/File Photo
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FRANKFURT, Aug 27 : Deutsche Bank said on Thursday that it has made progress in simplifying legacy technology at its retail division.
• Specifically, the bank has chosen a new so-called core banking system as it seeks to reduce 15 systems to two.
• The bank said it is “an important milestone in the multi-year transformation of its technology infrastructure.”
• It follows past stumbles that included a botched integration of Postbank, which left customers complaining that they were locked out of their accounts and unable to reach call centres.
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• The system Deutsche Bank has chosen is Thought Machine’s Vault Core platform.
• The core platforms are central systems that run the bank’s products and services.
Source: Reuters
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