back to article Microsoft? AWS? Nein und nein. Deutsche Bank signs up with Google Cloud for its latest crack at digital transformation

Deutsche Bank has snubbed the world's two biggest purveyors of clouds to name Google Cloud in a deal that the German giant said "is as much a revenue story as it is about costs". The bank had reportedly been courting Amazon, Microsoft and Google since February as it sought to "transform its IT architecture" or, more likely, …

  1. Anonymous Coward
    Anonymous Coward

    DB is an omni-shambles

    Its tech estate is so sprawling and complex the only solution to it to take the entire bank out the back of the barn and shoot it. Better people than Sewing have tried.

    Source : 6 years working there.....

    1. Anonymous Coward
      Anonymous Coward

      Re: DB is an omni-shambles

      I think the same is true of any large financial institution. You have decades of legacy technology combined with oppressive bureaucracy, strict regulation, and obsessive penny-pinching. Whatever new technology strategy is arrived at is already behind the times and will remain burdened by the inability of the bureaucratic beancounter to grasp that all the red tape could largely be automated if only most every element of the infrastructure hadn't been built by the lowest bidder.

      1. Anonymous Coward
        Anonymous Coward

        Re: DB is an omni-shambles

        Original OP here.

        DB was an order of magnitude worse than any other FS company I worked for..... There were many reasons that its Cost to Revenue ratio is among the worst in the industry

        Its large chunk of "job's for life" german employee's

        Anshu Jains 10 years of acquisition sprees that weren't integrated

        The Boards inability to grasp that DB was a super tanker with a turning speed measured in decades, and firing any Cx who said so.

        Their hokey cokey integration/de-integration of Postbank.

        I literally could list them all day...

        Weirdly enough some of the nicest people I ever met in banking there though....

    2. Anonymous Coward
      Anonymous Coward

      Re: DB is an omni-shambles

      I'd take it to the woodshed purely for being the only reputable financial institution stupid enough to fund Trump when no one else would touch him - and here we are (checks Trumps twitter feed for whatever shit he's spouting this morning - bangs head on wall)

  2. Miss Config
    Meh

    Own Backup

    Please tell me that even for a company as big as this bank that dumps its data onto a cloud, they ALSO make at least one copy of said data that is kept on the company's own premises and so unavailable to anybody outside the company .

    1. Throatwarbler Mangrove Silver badge
      Thumb Up

      Re: Own Backup

      Sure, go ahead and believe that if it makes you feel better.

    2. Anonymous Coward
      Anonymous Coward

      Re: Own Backup

      So, you raise it in a dumb way (there's no reason on premises is inherently more/less secure than a cloud service provider, and there is oh-so-much-more to resilience than backups), but this is still a valid point.

      In the run up to our current COVID shenanigans, the Public Accounts Select Committee published (in October of last year) an exceptional report into the technology risks facing our banking industry.

      This started out as a bit of a retrospective into the many TITSUPs we've seen in the last couple of years, but in a remarkable display of parliamentary competence they identified a relatively new and growing category of "cloud provider concentration risk", wherein the reality that all critical provision can be now rooted back to two or three key providers at most. The committee came close to recommending that we apply FSI-type regulations to cloud providers as a result, but did not cross that rubicon.

      That's why the big cloud vendors are spending megabucks to try and snaffle up these exclusive contracts now - they worry that the regulatory landscape in 2022+ will require banks to run in a multi-cloud/hybrid-cloud fashion to mitigate that concentration risk, or worse that they'll end up regulated themselves and lose the profit margin

  3. Lars
    Coat

    Perhaps

    It's a good idea to point out that Deutsche Bank is not the Bank of England of Germany as that idea seems to pop up every now and then. I suppose a name like Bank of America could lead to similar miss understandings too.

    The bank is known for money laundering and apparently popular with the Russian oligarchy and quoting the Wikipedia we find this:

    "Deutsche Bank is widely recognized as being the largest creditor to real-estate-mogul-turned-politician Donald Trump, 45th President of the United States, holding more than US$360 million in outstanding loans to the candidate in the months prior to his 2016 election. As of December 2017 Deutsche Bank's role in, and possible relevance to, Trump and Russian parties cooperating to elect him was reportedly under investigation by Special Counsel Robert Mueller.[115] As of March 2019, Deutsche Bank's relationship with Trump was reportedly also under investigation by two U.S. congressional committees and by the New York attorney general".

    Among notable employees we find Sajid Javid, (2007–2009).

    https://en.wikipedia.org/wiki/Deutsche_Bank

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