Deutsche Bank extends partnership with Kyndryl

Wednesday 12 October 2022 14:45 CET | News

Deutsche Bank has extended and expanded its partnership with Kyndryl.


Kyndryl offers a comprehensive portfolio that leverages hybrid cloud solutions, business resiliency, and network services. For example, users can safeguard their IT estate with security and resiliency, as well as simplify enterprise data management for Cloud and on-premises environments. Additionally, Kyndryl offers multicloud management and private infrastructure modernisation.

The company also offers Kyndryl Cloud Services, which aims to help customers fix issues, develop strategies, utilise managed services, or modernise and secure applications and infrastructure. For example through the implementation of Cloud Migration Services, Cloud Modernization Services, Private Cloud Infrastructure-as-a-Service (IaaS), and Multi-Cloud Management Platform.

The partnership

Kyndryl will continue to operate Deutsche Bank's core banking and IT infrastructures in continental Europe. One of the tasks of the managed services provider, which was spun off from IBM at the end of 2021, is to support the digital transformation of the bank and increase its flexibility by providing its services worldwide according to demand. In addition, Kyndryl is expected to support the bank's migration strategy as part of its broader effort to introduce Public Cloud Services.

New features

Among other things, the agreement stipulates that the IBM spin-off, with its automation and security technologies, will help to strengthen business-critical banking infrastructure. The technologies are part of the bank's modernisation strategy and are intended to increase efficiency.

Additionally, Kyndryl will pilot hybrid network solutions in Deutsche Bank's data centres to promote the integration of workflows and tools. This is designed to enable Deutsche Bank to improve data integration in its on-premises IT environment as it prepares for its longer-term journey to the cloud.


Further migration to the Google Cloud

The new agreement with Kyndryl also supports Deutsche Bank's broader strategy of moving towards the public cloud. According to a Deutsche Bank representative, quoted in Computerwoche, the company not only wants a large part of its systems and applications to migrate to Google Cloud, but also wants to develop digital financial products together with them. A Deutsche Bank representative states that the decision to renew a 20-year-long collaboration with Kyndryl is based on their experience in operating infrastructure services for the financial industry.

Additional Deutsche Bank upgrades

Deutsche Bank and Fiserv have also recently launched Vert, a payment acceptance and banking services provider to small and medium-sized enterprises (SMEs). Vert combines payment acceptance, processing, and traditional banking solutions, meeting market demand for an integrated offering and consolidating access to innovative products for merchants of all sizes. Vert also provides next-banking-day pay-outs, offering merchants faster access to their funds.

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Keywords: partnership, expansion, cloud, cloud services, cloud banking, banking
Categories: Banking & Fintech
Companies: Deutsche Bank, IBM
Countries: Germany
This article is part of category

Banking & Fintech

Deutsche Bank



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