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Deutsche Bank (Main problems were associated with (Rely in poor…
Deutsche Bank
Main problems were associated with
Rely in poor information systems
Lack of integration systems resultant from de M&A
Overlapping of incompatible technologic platforms and software programs
Antiquated legacy systems were not designed to handle large bank operations
IT infrastructures failure to keep up with the regulatory pressures/demanding changes
IT operations were managed by trail and error
Higher customer demand to have new and better interaction with bank
Adopted CEO's New strategy in order to
Reduce costs and improve efficiency
Overhaul Deutsche Bank fragmented and old IT
major impediment to control costs;
major impediment to find new sources of profit and growth;
responsible to mantain poor and ineffective business processes, inadequate technology and manual tasks
Standardize bank's systems and procedures
Eliminate legacy software
Standardizing and enhancing data
Improve reporting
Products and Services offer consists in
Retail and commercial banking
Foreign exchange
Services to Mergers and Acquisitions
Mortgages
Consummer finance
Credit cards
Life insurance
Corporate pension plans
Financing for international trade
Customized wealth management
Had regulatory problems because
Sold toxic mortgage securities ($7.2 billion)
Submitted
incomplete
and
untimely
Credit Default Swap data
:warning:
Inability to fulfil Swap report requirements
Failed to properly supervise employees responsible to Swap Data reporting
Not had a disaster recovery plan
Failed to have an adequate business continuity
Decided a new partnership with HP
[HP deal objectives]
Standardize and simplify IT infrastructure
(reduce operating systems 45 to 4)
Reduce costs
Create a modern and agile technology platform
Migrate to a cloud computing infrastructure
Experienced some problems
like a system outage, that prevented to report any Swap data for multiple asset classes due to, consisting in
[ :red_cross:
5 DAYS
]
the discovery of and creation of new reporting problems
persistent problems with the integrity of certain data fields
Numerous invalid Legal Entity Identifiers
LEI
Identification code
Identify all legal entities that are parties to financial transaction