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Deutsche Bank to complete Postbank IT integration

Germany’s Deutsche Bank has announced that it will complete the IT integration of Deutsche Postbank this weekend.

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Deutsche Bank to complete Postbank IT integration

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Postbank was acquired to act as Deutsche Bank’s retail banking division. The process was started back in 2008 and the acquisition was completed in 2012 for a cost of €6bn.

However the systems integration part of the transaction has proved much more complex.

The fourth and final part of the integration was originally meant to be completed last year but was subject to a delay.

The weekend work will cause some short-term disruption to customers but is expected to save the bank millions as a result of system efficiencies.

The integration, which has been dubbed Project Unity, is forecast to save the bank €300m by 2025 according to the bank. It will see 19m customers consolidated onto a single platform as the Postbank software and hardware is decommissioned.

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Comments: (1)

Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions

IIRC, the Wells-Wachovia, JPMC-WaMu and other bank mergers in USA happened around the same time in 2008 and AFAIK, their Post Merger Integrations were completed well before this weekend in July 2023.

15 years for a PMI project seems out of character with German efficiency. Or has the effect of 6 week per year Urlaub culture finally started showing up?  

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