Banken: Deutsche Bank startet nach Postbank-Debakel neuen IT-Umbau

Düsseldorf - Deutsche Bank is launching a new initiative to modernize its IT systems after the significant issues faced during the Postbank integration. The private banking division of the institution has chosen the "Vault Core" platform from the British fintech company Thought Machine as their core banking solution, and has contracted IT services provider GFT to implement it, the bank announced on Thursday.

The new platform aims to replace outdated technology for private and wealth customers in Germany and enable the launch of new products more quickly. The announcement of the new platform was well-received by GFT investors, with the stock surging by 7.1 percent to 24.15 euros. The bank's shares were trading at 34.65 euros on the day prior to the news.

The Postbank integration issues in Deutsche Bank's IT systems, which caused problems for millions of customers, prompted this change. The current restructuring is part of the bank's strategy to reduce the number of core banking systems in the group from 15 to two. The bank plans to invest around 600 million euros in IT by the end of 2028 and anticipates annual savings of approximately 300 million euros thereafter. The transition to the new system is expected to be carried out gradually from 2027.