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What makes banks and their IT so complex

D.he Deutsche Bank knows a thing or two about it. About the curse of the so-called “legacy” that a big bank like Deutsche Bank carries around with it. The former CEO John Cryan once described the state of IT in the bank as “lousy” and thus only increased the ridicule internally and externally. A description that today’s IT director Bernd Leukert does not want to leave as it is. “Our IT is far better than this one attribute suggested. Our systems are very safe and reliable, ”said Leukert recently in an interview with F.A.Z.

Significantly, Leukert no longer officially calls himself the IT director, but the director for data, digitization and innovation. That alone shows that IT is more than just sending e-mails correctly or merging network capacities silently. However you call it, IT is the heart of a bank and has a decisive influence on business success. The system has to be running. Of course, this also applies to all other sectors, but the matter is even more complicated with banks because they are subject to special supervision and regulation. This not only means more control, but also a considerable expense in order to be able to meet the requirements. These are financial expenses that are missing in other areas of the banks, which are under great pressure. Often savings are made when modernizing the IT.

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