Deutsche Bank said it has reached an important milestone in the modernization of its retail banking technology by selecting a new core banking platform.
The bank plans to reduce the number of legacy core systems in its retail division from 15 to just two, simplifying a complex technology environment that has created operational challenges in the past.
Deutsche Bank has selected Thought Machine’s Vault Core platform as part of the multi-year transformation. Core banking systems support essential services such as accounts, payments and other customer-facing products.
The overhaul follows previous technology problems, including difficulties during the integration of Postbank, when some customers reported being unable to access accounts or reach customer service.
By consolidating its core technology infrastructure, Deutsche Bank aims to improve reliability, reduce complexity and create a more flexible foundation for future digital banking services.
The project forms part of a broader effort by major banks to replace ageing technology systems with more modern cloud-based and modular platforms.
