13 July 2012 16:24

Deutsche Bank has migrated five million savings customers onto Magellan, its new billion euro core banking platform.

504

Magellan comprises the entire IT infrastructure as well as all of the clearing and settlement processes of Deutsche Bank's private and business clients (PBC) unit in Germany.

The platform, based on technology from SAP, replaces decades-old legacy systems and is a major plank of the bank's efforts to integrate Postbank, in which a majority stake was acquired in 2010. 

It will eventually provide the shared foundation for operating the branches of both sides of the business "representing a further step forward towards industrialising business processes and greater cost efficiency".

Having moved savers, all PBC accounts and business processes in Germany should be migrated step by step to Magellan by 2015. The new platform will then be fully operational for the more than 2000 Deutsche Bank and Postbank branches, serving 24 million customers.

The whole project is expected to cost EUR1 billion but, says Deutsche Bank, the resulting IT simplification and standardisation will create cost savings of around EUR200 million in 2012 alone.

Rainer Neske, Deutsche Bank management board member responsible for PBC, says: "For our clients, Magellan will result in a faster and more efficient service as well as greater product quality. Magellan is a further milestone in implementing our integration strategy for Postbank and in establishing a retail banking powerhouse in Germany."

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
18 Oct
OMXC20
Data herunder er lavet på C20 Cap og C20 vægtet til at passe til C20 Cap i 2010 og 2011.   Siden den..
65
16 Oct
 
Jeg skriver lige det her indlæg fordi det er 5. gang som investor jeg oplever en af de her lidt stør..
56
16 Oct
 
Kære Alle   Jeg takker Jer alle for en god tid her, jeg erkender at have tabt, selvom jeg holdt mig ..
36
17 Oct
VWS
Normal 0 21 false false false DA X-NONE X-NONE ..
28
17 Oct
I:SP500
  Hvorfor aktiemarkedet ikke er blevet for dyrt   I mit indlæg vedr. aktie- og vækstkrise beskrev je..
21
16 Oct
I:SP500
  @bgadk – enig i, at en moderat inflationær politik der holder deflations-spøgelset nede, er præcis..
20
15 Oct
VWS
Hej   Jeg kan umuligt være det eneste menneske der er sygt træt af at, bankerne (Gold/Morgan), voldt..
17
20 Oct
VELO
Tvivler på at du får ret. Aktieanalytikerne siger allerede før godkendelsen en KORTSIGTET kurs på 2..
16
16 Oct
OMXC20
Med reference til mit indlæg af 10.07.2014 emne nummer 280903   Dengang i juli var der uro på marked..
16
16 Oct
PNDORA
Til dem som ikke gider trykke over på en anden side: -----------------------------------------------..
14

Tech Companies Send Criticism Along With NSA-Related Data -- Update

04/02/2014 00:06:00
By Danny Yadron Technology companies including Google Inc. and Microsoft Corp. released new figures on the amount of data requests they received from U.S. ..

U.S. Hot Stocks: Hot Stocks to Watch

03/02/2014 14:07:00
Among the companies with shares expected to actively trade in Monday's session is Herbalife Ltd. (HLF). Herbalife Ltd. (HLF) raised its fourth-quarter outl..

Pfizer Study Meets Primary Endpoints

03/02/2014 13:05:00
Pfizer Inc. (PFE) said Monday that a Phase 2 trial of its advanced breast cancer treatment met its primary endpoint. Pfizer said a study comparing the effec..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Novartis announces FDA Advisory Committee unanimously recommends approval of AIN457 (secukinumab) for patients with moderate-to-severe plaque psoriasis
2
Constellation Brands Launches Global 'Nourishing Neighbors' Initiative to Fight Hunger In Local Communities
3
NGEX ANNOUNCES POSITIVE RESULT OF PRELIMINARY ECONOMIC ASSESSMENT AND AN UPDATED MINERAL RESOURCE ESTIMATE FOR ITS LOS HELADOS P
4
Constellation Brands Announces Full Redemption of 8 3/8% Senior Notes Due 2014
5
Orion Group Interim Report January-September 2014
Euroinvestor around the globe: Euroinvestor.dk | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
21 October 2014 14:28:45
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20141015.1 - EUROWEB4 - 2014-10-21 15:28:45 - 2014-10-21 14:28:45 - 1000 - Website: OKAY