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Deutsche Bank [DB] (products for (credit cards, life insurance, consumer…
Deutsche Bank [DB]
products for
credit cards
life insurance
consumer finance
corporate pension plans
mortgages
financing for international trade
customizing wealth management for private clients
was in trouble for
having a system outage for 5 days that prevented them reporting on swap data
lacking an adequate disaster recovery plan that failed stress tests
failing to supervise employees responsible for swap data reporting
submitting incomplete and untimely credit default data
Trouble(s) because
it did not integrate their information system with those from their acquisitions
efforts costs were too great
outdated system is still in place
overlapping platforms
not ready to manage large amounts of money
information was not easily shared
incompatible tech
no common set of identity codes
unhealthy competition within the company
#
Boards members
No Technology expertise
#
investments
regulations
strategies
resilience
security
innovations
Technology specialist COO
will
through HP
be migrating to a cloud computing infrastructure
hopefully they will promote
efficiency
cost reductions in "running the bank"
cutting 6000 jobs
better control
.
develop Web, mobile applications for customers
.
develop information security technologies
.
cut high-risk client relationships
.
improve its control framework
.
automate manual reconciliations
.
reduce and replace outdate operating systems and computers
.
provides
because
and now
as within DB existed
made this problem even worse
through the new
had
to assess IT
that will lead to
led to more
was in