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Deutsche Bank (Solutions to implement: (Eliminate legacy software,…
Deutsche Bank
Solutions to implement:
Eliminate legacy software
Standardize data and procedures
Customer's orientated applications and software
Migrate to cloud computing
Reduce number of operating systems
Appointment of IT specialist as COO
General problems of the bank were
People
Poor supervision
Lack of adequate business continuity
Poor coherence of available information
Inadequate business processes
Customer's relationship
Organization
High operation costs
Lack of technology professionals
Too many mergers and expansions without proper integration
Lack of disaster recovery plan
Competition within the bank had bad results
Poor information sharing
Technology
Antiquated technology
Poor information systems
Ineffective sharing of information among systems
Poor integration of a big diversity of information systems
First noticeable failures triggered by
Internal reasons:
System outage
Continuous reporting problems
Lack of integrity of data fields
Invalid legal entity identifiers
External reasons
Regulatory changes
Global economic downturn
Customer's demands as technology became available
Acused by regulatory entities due to
Not complying with regulatory obligations
Submission of incomplete and untimely credit default swap data