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