IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

HP Helion private cloud bags Deutsche Bank job

Banking giant will focus on app development after shifting IT infrastructure to HP’s private cloud

server room

Deutsche Bank is to move its IT infrastructure into HP’s Helion managed private cloud to free up its own IT department.

The decade-long, multi-billion dollar deal will see HP provide storage, platform and hosting services on demand to the German giant, which will focus on innovations in app development and information security.

It will also hold on to its IT architecture, but believes the move should significantly cut its technology infrastructure costs.

The deal forms part of a wider IT transformation programme that will see Deutsche Bank upgrade and reduce its number of IT applications then move them onto HP’s private cloud platform.

Henry Richotte, COO of the bank, said: “Having a more modern and agile technology platform will further improve the bank’s ability to launch new products and services and lay the foundation for the next phase of its digital strategy.”

TechMarketView analyst Peter Roe agreed, saying the move would help the bank become more innovative.

“Applications will be moved onto the HP platform so Deutsche can focus its internal IT resources where they can drive most benefit,” he said.

“Deutsche will also be able to rationalise its legacy application stack and deploy innovative applications more speedily as it can access additional infrastructure as needed.”

He called the deal “a large feather in HP’s cap”, giving it “massive credibility” in the financial services sector.

But while Roe stated it was an indication to other banks of the value of the private cloud, other institutions may find it hard to imitate the move.

“The use of cloud has been gaining ground and widespread acceptance [in financial services],” Roe said, but added most banks don't have Deutsche's agility in IT.

“Deutsche Bank has long had a more centrally-driven and structured approach to IT than many other banks, who may find it more difficult to move to such a delivery model.”

HP CEO Meg Whitman claimed the bank’s “proactive” approach would help it meet customer needs.

“Through this partnership, Deutsche Bank will meet its long-term business objectives through a transformation of its IT infrastructure, including a customised HP Helion solution that will enable them to focus on creating and delivering new services for their clients,” she said.

Featured Resources

The Total Economic Impact™ Of Turbonomic Application Resource Management for IBM Cloud® Paks

Business benefits and cost savings enabled by IBM Turbonomic Application Resource Management

Free Download

The Total Economic Impact™ of IBM Watson Assistant

Cost savings and business benefits enabled by Watson Assistant

Free Download

The field guide to application modernisation

Moving forward with your enterprise application portfolio

Free Download

AI for customer service

Discover the industry-leading AI platform that customers and employees want to use

Free Download

Recommended

Google adds stronger safeguards for Workspace accounts
collaboration

Google adds stronger safeguards for Workspace accounts

11 Aug 2022
DARPA recruits SpaceX, Intel and Amazon for major satellite network project
Network & Internet

DARPA recruits SpaceX, Intel and Amazon for major satellite network project

11 Aug 2022
Microsoft successfully tests emission-free hydrogen fuel cell system for data centres
data centres

Microsoft successfully tests emission-free hydrogen fuel cell system for data centres

29 Jul 2022
Google Cloud launches first Arm-based virtual machines
virtual machines

Google Cloud launches first Arm-based virtual machines

14 Jul 2022

Most Popular

Apple patches 'superpower' zero-days affecting iPhones, iPads, and Macs
zero-day exploit

Apple patches 'superpower' zero-days affecting iPhones, iPads, and Macs

18 Aug 2022
Why convenience is the biggest threat to your security
Sponsored

Why convenience is the biggest threat to your security

8 Aug 2022
The benefits of a hardware update for SMBs
Sponsored

The benefits of a hardware update for SMBs

2 Aug 2022