23 October 2017
Find out more

German banks abandon payments processing plan - FT

02 May 2003  |  3692 views  |  0 German banks abandon payments processing plan - FT

Deutsche Bank, Dresdner Bank and HVB have abandoned plans to merge their payments processing back offices after deciding that the upfront costs of the venture would outweigh future cost-savings, according to a report in the Financial Times.

The paper quotes a statment from HVB: "As a result of additional costs that would have to be invested into this project over the next four year, all three banks decided to part with the project in this form."

The banks had hoped to cut back office costs by 30% by using a single shared platform for processing their combined annual total of four billion cash, cheque and electronic payments.

Each bank employs about 1000 back office to handle payments transactions states the report.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Dresdner Bank extends First Data card processing deal

Dresdner Bank extends First Data card processing deal

15 April 2003  |  3274 views  |  0 comments
Bank of Ireland in IT outsourcing talks with HP

Bank of Ireland in IT outsourcing talks with HP

07 April 2003  |  7427 views  |  0 comments
Deutsche backs digital signature alliance

Deutsche backs digital signature alliance

03 April 2003  |  4962 views  |  0 comments
Deutsche Bank to outsource procurement - FT

Deutsche Bank to outsource procurement - FT

06 March 2003  |  4353 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.com visit www.atos.net

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
18423 views comments | 24 tweets | 36 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
14884 views comments | 23 tweets | 31 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10795 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
10233 views comments | 13 tweets | 10 linkedin

Featured job

circa £250K total package
London

Find your next job