Deutsche bank the cost of legacy systems

This institution has been able to establish offices in the foreign nations which have helped them gain substantial control within other financial institutions in Europe. This extension of authority has also reached their geographical locations like Australia, south and North America. Amongst the functions of this institution include sponsoring international trade, foreign exchange and services for acquisition and mergers, corporate pension plans, retail and commercial banks as well as property management. There is a reason why Deutsche Bank is considered to be the embodiment of the global financial system. This is because the bank provides a variety of goods and services by using its 1. Common bank services offered by this institution include credit transaction, insurance and other financially involved functions in regards to strategy.

The derivative market has brought great revenue and other benefits to this bank through the bank’s credit products which are highly concentrated in this segment of the market. The bank also initiates competitions amongst its teams to promote and encourage high performance. (Laudon & Laudon, 2016). In India, the bank has received a couple of awards based on its exceptional performance. As mentioned before, Deutsche bank has a very complex portfolio which had occasionally caused confusions and troubles with the government management institutions when unexperienced staff worked with it. The futures trading commission had also made complaints with Deutsche bank when they received incomplete default credit swap data. Research suggests that there is a lack of disaster recovery and reinvestment plans amongst the employees in charge of reporting swaps.

(Laudon & Laudon, 2016). Customer information management in this bank is not ideal. Furthermore, the ancient systems are also expected to establish large numbers of transactions that go through the bank as part of the day to day activities. Departments sometimes are unable to share information sufficiently due to the inconveniences associated with the systems. The senior executives sometimes are not often provided with sufficient information to help in the assessment of the institution. (Laudon & Laudon, 2016). It is as a result of factors that the USA government requires financial institutions to develop advanced risk management systems that would aid improve their risk management practices. Under the supervision of technology expert Kim Hammonds, Deutsche bank engaged in a multi-dollar contract with HP Tech Company that would help in the simplification of IT infrastructure.

To be able to operate their information systems in remote centres, Deutsche bank participates in cloud computing where HP will play the hosting and data storage role. Nonetheless the bank also actively engages in the production of information security systems that are uniquely competitive and exclusive in the industry. As part of the bank’s initiatives to make changes and improvements, it will try to improve the control framework, automate manual reconciliation and withdraw from high-risk customer relationships. The bank is also expected to replace obsolete computers and take control of the daily operations of machines from 45 to 4. In the United States, Banco Santander failed in the annual reserve checks. Management systems seem to be changing towards a positive direction after new technological management systems were initiated by John Cryan's.

These systems did not only bring changes within the information management faculties, but it also altered the organisational structure involved. An example of the effective strategies that the organisation initiates is the releasing of employees which in turn reduces the salary and training costs. (Laudon & Laudon, 2016). However, Deutsche Bank has assumed a high position in the world’s financial institutions. Conclusion Information technology infrastructure has been constituted with some obstacles even in other institutions. Different institutions have applied these institutional technologies despite the challenges involved. However, only a few companies have been able to come up with applicable techniques to solve their management issues. This research has realised that technological innovations are sometimes considered to be very expensive primarily due to the high levels of competition.