Deutsche Bank (NYSE: DB) and Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, today announced a new agreement under which the bank will extend one of the largest and longest running vendor contracts in the financial industry.
Kyndryl will continue to run Deutsche Bank’s Continental European core banking and mission critical IT infrastructures to support the bank’s technology transformation, to increase flexibility with on-demand scalability and global service availability. Furthermore, Kyndryl will support the bank’s cloud migration strategy as part of its broader effort to adopt public cloud services.
Under the agreement, Kyndryl will support the enhancement of Deutsche Bank’s mission critical banking infrastructure by integrating automation and security technologies that are a part of the bank’s modernisation strategy and drive efficiency in day-to-day operations. Kyndryl will also pilot hybrid networking solutions in Deutsche Bank’s data centres, further enabling integration of workflows and tooling. Deutsche Bank will be able to improve data integration across its on-premises IT environment as it prepares for its longer-term cloud journey.
The new agreement with Kyndryl will also support Deutsche Bank’s broader strategy to harness the power of cloud computing. Kyndryl has the flexibility to tap into a broad set of technologies and skills, including its own global strategic partnership with Google Cloud, in support of Deutsche Bank’s specific transformation goals. Additionally, Kyndryl’s nearly decades-long knowledge of Deutsche Bank’s systems will play a part in helping to migrate some of its critical business operations to the cloud.
“Our decision to renew our almost 20 year working relationship with the experts from Kyndryl is based on their experience in operating mission critical infrastructure services for the financial industry, as well as Kyndryl's continued ability to adapt to the changing needs of the banking and IT industry,” said Gordon Mackechnie, Chief Technology Officer at Deutsche Bank.
“We’ve stood side by side with Deutsche Bank for nearly two decades as they’ve evolved their business and shaped the future of banking. As we continue our work together, we’re committed to helping them deliver reliable and secure services to customers while being their trusted partner to lay a future-forward foundation that helps them bring more innovative offerings to market,” said James Rutledge, Global Head of Delivery, Kyndryl.
“As their trusted partner for nearly two decades, we have deep experience helping Deutsche Bank deliver secure and reliable services to their customers. As we continue our work together, we’re supporting them as they set the pace for digital transformation across the financial industry and evolve their business to deliver new and modern solutions to customers,” said Merlin Jung Managing Partner - Deutsche Bank Account, Kyndryl Germany.