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Deutsche Bank Completes First Step in Major IT Systems Overhaul

  • Goal of transformation is integration of Postbank systems
  • Deutsche Bank acquired retail lender over a decade ago
Social Distancing Operations at Deutsche Bank AG Consumer Bank Branch
Photographer: Alex Kraus/Bloomberg

Deutsche Bank AG is making headway in its effort to cut hundreds of millions of euros in costs by retiring the legacy IT systems linked to its Postbank unit.

The lender “has successfully completed the first step” in a large-scale transformation of the IT systems in its retail business, it said in a statement Wednesday. The project is “one of the most important strategic measures” amid a large restructuring program across the division, Deutsche Bank said. Implementation is taking place in several stages and is scheduled to be completed in 2023, it said.