Deutsche Bank has signed a ten-year, multi-billion dollar deal to outsource a large chunk of its wholesale IT infrastructure to HP.
Under the terms of the agreement, HP will provide dedicated data centre services on demand including storage, platform and hosting.
Deutsche Bank will retain activities such as IT architecture, application development and information security.
As part of a wider IT transformation programme, Deutsche Bank says it will upgrade and reduce the number of its IT applications, move them on to the HP platform and enhance its own processes for providing technology support to its operations.
Henry Ritchotte, chief operating officer of Deutsche Bank, says: “This agreement enables Deutsche Bank to secure standardised, world-class IT infrastructure while lowering costs. Having a more modern and agile technology platform will further improve the Bank’s ability to launch new products and services and lay the foundation for the next phase of its digital strategy.”