HP Signs Multi-Billion Pound Deal To Improve Deutsche Bank’s IT Setup

Hewlett-Packard (HP) and Deutsche Bank have signed a 10-year multi-billion pound agreement to modernise the bank’s global IT infrastructure and reduce related IT costs.

The exact financial details of the deal were not disclosed. But under the terms of the agreement, which mainly covers wholesale banking IT infrastructure, HP will provide dedicated data centre services on demand including storage, platform and hosting.

Operational support

Deutsche Bank will retain activities such as IT architecture, application development and information security.

The bank will also upgrade and reduce the number of its IT applications, moving them on to the HP platform, and enhance its own processes for providing technology support to its operations.

Henry Ritchotte, COO of Deutsche Bank, said: “This agreement enables Deutsche Bank to secure standardised, world-class IT infrastructure while lowering costs. Having a more modern and agile technology platform will further improve the Bank’s ability to launch new products and services and lay the foundation for the next phase of its digital strategy.”

Meg Whitman, CEO, HP, said: “Deutsche Bank is taking a proactive approach to modernising its IT infrastructure and has chosen to partner with HP in order to do that. Through this partnership, Deutsche Bank will meet its long-term business objectives through a transformation of its IT infrastructure, including a customised HP Helion solution that will enable them to focus on creating and delivering new services for their clients.”

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