Deutsche Bank cites progress in technology revamp at retail division

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August 27, 2026 3:56 AM EDT

FILE PHOTO: The Deutsche Bank headquarters tower, in Frankfurt, Germany, July 22, 2026. REUTERS/Tilman Blashofer/File Photo

FRANKFURT, Aug ‌27 (Reuters) - ​Deutsche ​Bank said on Thursday that it has ‌made progress in simplifying legacy ⁠technology at its retail division.

• ‌Specifically, the bank ‌has chosen a new so-called core banking system as ​it seeks to reduce 15 systems to ⁠two.

• The bank said it is "an important ​milestone in the multi-year transformation of its technology infrastructure."

• ​It follows ‌past stumbles that included a botched integration of ⁠Postbank, which left customers complaining that they were locked ⁠out of their accounts and unable ​to reach call centres.

• The system Deutsche Bank has chosen is ‌Thought Machine's Vault Core platform.

• The core platforms ‌are central systems ⁠that run ‌the bank's ​products and services.

(Reporting by Tom SimsEditing by Linda ‌Pasquini)


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