The agreement is expected to modernize the global information technology (IT) environment of the bank, while cutting down related IT infrastructure costs.
Under the terms of the deal, HP will provide data centre services on demand including storage, platform and hosting to Deutsche Bank, which will retain IT architecture, application development and information security activities.
Deutsche Bank chief operating officer Henry Ritchotte said: "This agreement enables Deutsche Bank to secure standardised, world-class IT infrastructure while lowering costs.
"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."
The bank plans to upgrade and reduce the number of its IT applications as part of a wider IT transformation program.
The applications would be shifted to the HP platform and the bank meanwhile, plans to improve its own processes for providing technology support to its operations.
HP chairman, president and CEO Meg Whitman said: "Deutsche Bankis taking a proactive approach to modernising its IT infrastructure and has chosen to partner with HP in order to do that.
"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."
The companies have not disclosed the contract value.
Image: The Deutsche Bank Twin Towers, the headquarters of Deutsche Bank in Frankfurt. Photo: courtesy of Thomas Wolf
