Deutsche Bank selects new core banking system from SAP

Deutsche Bank has signed a letter of intent with SAP Deutschland to start a multi-year initiative in

The SAP for Banking solutions portfolio provides banking-specific (transactional banking, CRM, finance and risk management) and banking-relevant (human resources management, procurement) services and solutions created on a single service-oriented architecture (SOA)-enabled business process platform with integrated business insight.

Solutions are delivered in areas such as analytical banking (integrated finance and risk, compliance), transactional banking for retail and wholesale banks (loans, deposits, payments, collaterals, leasing, and covered bonds), business support (procurement, human capital management), customer relationship management and business intelligence.

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 flexibility in its IT infrastructure, building on standardized, modular SAP software functions within a SOA.

Hermann-Josef Lamberti, COO of Deutsche Bank, said: "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."

Leo Apotheker, CEO of SAP, said: "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 to SAP to help them better position themselves in the market using IT that will help them gain a competitive edge."