Deutsche Bank Selects Cloud Technologies From Red Hat
Red Hat, Inc., the world’s leading provider of open source solutions, today announced that Deutsche Bank, Germany’s largest bank, is powering its Fabric application platform with open hybrid cloud technologies from Red Hat. Fabric is a key component of Deutsche Bank’s digital transformation strategy and serves as an automated, self-service hybrid cloud platform that enables application teams to develop, deliver and scale applications faster and more efficiently.
The bank is among the largest in the world and executes around 13 million payments at a value exceeding EUR 1,1 tn and clears EUR transactions worth EUR 500 bn each day. Being able to more quickly and efficiently offer flexible, on-demand and always-on services to customers is vital in a highly competitive market like global finance, and cloud-native application development methodologies like containers, microservices and DevOps are well-suited to supporting those goals.
To meet its business objectives—modernizing infrastructure at scale, improving business agility and efficiency, and accelerating time-to-market—Deutsche Bank built Fabric, a next-generation strategic platform capable of providing an “Everything-as-a-Service” experience for its application teams as they build and deploy new applications across the bank’s hybrid infrastructure.
Red Hat Enterprise Linux has served as a core operating platform for the bank for a number of years and provides a supported, common foundation for workloads both on-premises and in the bank’s public cloud environment. For Fabric, Deutsche Bank elected to continue using Red Hat’s cloud-native stack, built on the backbone of the world’s leading enterprise Linux platform, with Red Hat OpenShift Container Platform. Specifically, it deployed Red Hat OpenShift Container Platform on Microsoft Azure as part of a security-focused new hybrid cloud platform for building, hosting and managing banking applications. By deploying Red Hat OpenShift Container Platform, the industry’s most comprehensive enterprise Kubernetes platform, on Microsoft Azure, IT teams can take advantage of massive-scale cloud resources with a standard and consistent PaaS-first model.
The bank also deployed OpenShift on its on-premise infrastructure, enabling it to continue using technologies already in production and take advantage of one of the key value propositions of OpenShift: a platform for applications across hybrid cloud environments, spanning from the datacenter to multiple public clouds. Both Red Hat Enterprise Linux and OpenShift Container Platform are deployed and maintained using Red Hat Ansible Tower, a framework that automates and standardizes IT at enterprise scale.
Today, Fabric supports 6,000 internal users across 4,000 projects on 15 unique computing environments, and more than 10,000 end users globally. The bank has achieved its objective of increasing its operational efficiency, now running over 40% of its workloads on 5% of its total infrastructure, and has reduced the time it takes to move ideas from proof-of-concept to production from months to weeks.
Ashesh Badani, senior vice president, Cloud Platforms, Red Hat
“As we continue to move forward in this era of digital transformation, organizations are often faced with becoming a software company. Deutsche Bank’s use of container and Kubernetes technologies through Red Hat OpenShift shows its commitment to IT innovation and the importance of the hybrid cloud to Deutsche Bank, and we are proud to collaborate with the bank as it sets an example not just for the financial services industry but for any enterprise stepping into the digital age.”
Tom Gilbert, global head of cloud, application and integration platforms, Deutsche Bank
“Our vision was for ‘Everything as a Service’ – to create a bubble where our people can’t tell if they’re building software for a bank or any of the software companies in the world. We wanted to be able to quickly take an idea to production while meeting the security and regulatory standards of the industry. To achieve this, we needed not only innovative technology but a strategic partner that could execute globally and understand our business needs. We are buoyed by what we’ve achieved so far and look forward to continuing on this journey with Red Hat.”
Source: Red Hat
The bank will accelerate its growth ambitions in the US.
Net profit was more than four times 2020 and the highest since 2011.
Morgan Stanley CEO wants the Fed to raise rates in March.
A fall in overall risk appetite and exiting prime services contributed to the loss.
Firm is investing up to $150m to anchor the team's first strategy.