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
27 Aug
I:SP500
Indlægget her er kraftigt inspireret af overlaar@ (filter) og alpe med flere, kort og godt alle dem ..
46
29 Aug
 
Har man en halv times tid denne weekend kan den med fordel bruges på to ting: Dels på investeringsdi..
28
26 Aug
RTX
Investor 1989, - nej tak, - jeg er ikke interesseret i at give 15 dollars for en analyse fra dig omk..
28
27 Aug
 
2.000.000 til 5.000.000 kr.
21
26 Aug
VWS
Det er dog noget af det skægeste jeg længe har læst. Vindmøllegiganten Vestas er et af en stribe dan..
21
30 Aug
OMXC20
20
28 Aug
OMXC20CAP
Så sluttede fredagen og igen tog jeg fejl.I tirsdags var jeg helt sikker på at frygten ville tage ti..
20
27 Aug
 
fra 1.000.000 til 2.000.000 kr.
19
27 Aug
 
fra 100.000 til 250.000 kr.
17
01 Sep
7-ST.L-24-GB
Søde venner. Mon Ami's!   I svære tider skal sjælen sankes, sårene slikkes og ego'et poleres af. Det..
16

Form 8.3 - Royal Dutch Shell plc

01/09/2015 14:43:15
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE ..

Statement re Notification of Major Interest in Shares

01/09/2015 13:47:10
For filings with the FCA include the annex   For filings with is..

Mothercare Plc : Total voting rights

01/09/2015 10:32:06
1 September 2015 Mothercare plc - Voting Rights and Share Capital In conformity with the Transparency Directive's ongoing disclosure provisions for i..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Sika AG: FEDERAL ADMINISTRATIVE COURT CONFIRMS VALIDITY OF OPTING-OUT CLAUSE
2
#PartsMatter Auto Safety Campaign Offering Weekly Prizes for Sharing Photos, Videos of Part Failures
3
O-I Completes Acquisition of Vitro's Food and Beverage Business
4
Novartis announces global partnership with Amgen to develop and commercialize pioneering neuroscience treatments
5
HARLEY-DAVIDSON, INC. DECLARES DIVIDEND

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2015   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.
 
02 September 2015 15:47:41
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20150824.1 - EUROWEB5 - 2015-09-02 16:47:41 - 2015-09-02 15:47:41 - 1000 - Website: OKAY