Deutsche Bank has contracted Indian IT services giant Tata Consultancy services to transform IT support at its investment banking arm across seven countries.
The five-year contract will see TCS provide IT services aligned to the IT Infrastructure Library services model in the USA, UK, Germany, Hungary, Philippines, Singapore and India
The IT Infrastructure Library (ITIL) services model was developed by the government's Central Computer and Telecommunications Agency for the UK public sector, but has now been adopted globally. The guidelines are overseen by international user group, the IT Service Management Forum.
Tata Consultancy services (TCS) will use the Lean software development methodology to try to remove non-value added activities and increase cost efficiencies.
Lean development principles include eliminating waste, making decisions as late as possible and delivering as fast as possible.
Deutsche Bank's retail operation last year replaced multiple legacy systems with a banking platform from TCS. The bank is using TCS' BaNCS system in 30 countries.
BaNCS provides banking functionality including account services, interest and charges, liquidity management, funds transfer and payments, statements and risk management and reporting.