Deutsche Bank to Move ‘Heart’ of IT Systems Into Google’s Cloud
- Companies finalize cloud computing agreement to modernize IT
- The deal also envisions jointly developed technology
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Deutsche Bank AG expects to ultimately replace large parts of its core banking system with alternatives powered by Alphabet Inc.’s Google, as the German lender embarks on its biggest effort yet to modernize computer systems that have hampered it for years.
The two companies on Friday finalized a cloud computing agreement under which the German lender plans to shift most of its data onto Google servers, technology head Bernd Leukert said in a phone interview. Both firms also agreed to jointly develop products including new lending offerings and retail apps.