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Deutsche Bank HQDeutsche Bank and Hewlett-Packard have announced a 10-year, multi-billion dollar agreement that will see parts of the bank’s global IT systems rationalised and migrated to HP platforms.

Henry Ritchotte, chief operating officer of Deutsche Bank, said: “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.”

The deal “mainly” covers the bank’s wholesale banking IT. While Deutsche will keep responsibility for IT architecture, application development and information security, HP will provide dedicated datacentre services on demand including storage, platform and hosting. The financial value of the deal was not disclosed.

As part of a wider IT transformation programme, Deutsche Bank 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.

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