Germany’s Deutsche Bank is set to complete the IT integration of Deutsche Postbank, its retail banking division, this weekend. The integration, known as Project Unity, aims to consolidate 19 million customers onto a single platform, resulting in cost savings and system efficiencies.
Facts
- Deutsche Bank will finalize the IT integration of Deutsche Postbank, its retail banking division, this weekend.
- The integration process, named Project Unity, began in 2008 and was completed in 2012, but the systems integration proved to be more complex.
- The fourth and final phase of the integration, originally scheduled for completion last year, faced a delay.
- The weekend work will cause temporary disruption for customers, but it is expected to generate millions in savings for the bank through improved system efficiencies.
- The integration is projected to save Deutsche Bank €300 million by 2025.
- As part of the integration, 19 million customers will be consolidated onto a single platform, leading to the decommissioning of Postbank’s software and hardware.
- The integration is a strategic move to streamline operations and achieve greater efficiency within Deutsche Bank’s retail banking division.
