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Deutsche Bank: IT becomes a job for finance

Rolf Roewekamp | March 3, 2015
In one of the Bank's most major projects, finance and IT have joined forces to create a central data warehouse for all risk and finance data. The giant project was on the verge of failure in 2013. CFO Joachim Müller redefined his role.

And the project will go on. "StRIDe has important targets, of course. The essential improvements and expansions of the architecture and processes are slated to be achieved by 2016/17. Nevertheless, the project can also be seen as a long-term improvement process. We will always be pursuing further improvements, since the competition, cost pressure, regulations and what we expect from a world-class department are not going to decrease," Müller notes.

Bond traders are now also delivering their data in the new data standard -- otherwise the back office no longer accepts it. For a long time, the front office lacked an understanding of what happens to the transactions afterwards in the back office. And the back office lacked an understanding of the flexibility and speed needed in the front office in order to remain competitive, Müller explains. "A lot has changed here for us in the in last few years because we have adopted far more process-based rather than functional thinking and are looking at a transaction end to end. Understanding has dramatically improved."

COMPANY | Deutsche Bank
Headquarters: Frankfurt am Main
Total assets: €1,611 billion (2013)
Employees: 98,254

IT FIGURES
IT employees: 24,500 (2013)
IT budget: €3,074 million (2013)

CIO: Kim Hammonds

PROJECT | Overview of the facts
Project name: StRIDe -- Strategic Redesign of Information Delivery
Cost: Several hundred million euros
Employees: 600 IT and 200 finance
Service provider: Luxoft (software development)
Applications: Oracle Exadata, SAS Business Analytics
Duration: 2012 to 2017
Scope: Over 1,000 legal units, 1,000 data flows, 100 transaction systems
Software development: Frankfurt am Main, London, India and external vendors
Milestones: Almost 60,000 of 70,000 reached in 2014
Responsibility: Finance and IT

 

PROJECT | LESSONS LEARNED
" Have a consistent strategic direction, don't get tactical too fast, and always return to the strategic path quickly
" Many, especially large ones, get stuck in the concept phase
" Become more effective in execution, which demands extremely good cooperation and trust between parts of the company and the department
" Find a rhythm and achieve interim goals regularly
" Don't start a project with larger entities, but with small units, and start there with manageable complexity to gain experience
" Have a joint vision of structure; all participants must have the same understanding
" Major change programmes are a matter of culture, communication and leadership

" Culture also includes addressing problems openly and conducting constructive dialogue

 

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