To help process data for the variety of financial products and services
The problem presented in the case study was that Deutsche Bank couldn’t provide the correct information from their results. All of these factors had linked to management, organization and technology that helped to the issue. The information systems in the bank have been obsolete, preventing them from analyzing complex financial data to provide their services. Furthermore, the company underwent several fusions and acquisitions, which stopped management from making the necessary technical changes to integrate its information systems. This is because the requisite effort and coordination were too high, leading inevitably to the convergence of many incompatible technologies. Ultimately, the bank did not have an actively organized business continuity and disaster recovery and other necessary supervisory processes in place. Because of this, bank leaders were unable to properly cope with the challenges they faced. Appropriate technology, senior management support and proper planning were the main factors that contributed to the issue.
To help process data for the variety of financial products and services offered, the role of the Deutsche Bank in informational technology was crucial. Any of which included the management of a wide range of derivatives, credit default swaps and fraud finding. IT was connected to the productivity of the bank, as it automates manual steps and eventually allows new systems to process the data more rapidly and with greater precision. Since IT would help to provide additional information more quickly, senior managers could determine more informedly.
Deutsche Bank did not successfully use the technology to implement its business strategy. The bank’s strategy consisted of providing a wide array of financial products and services to its clients. Still, due to its management team’s focus on expanding the business, they neglected to update their technology to produce incorrect data.
The approach suggested was a 10-year initiative with Hewlett-Packard to’ standardize and simplify the company’s IT infrastructure, cut costs, and create a more flexible and agile development framework to deliver new products and services. The company will upgrade its development and create a more productive environment for its information systems. This will allow the company to cut costs, improve productivity and achieve more excellent financial stability. The bank’s new strategy could be very effective and prove to be successful. Nevertheless, the bank performance depends to a large extent on how successful it is at handling this transition as CEO and board. One of the most significant issues facing organizations today, as described in the case study, is that senior management has a profound understanding of the technology. The approach suggested that the bank could be highly successful if Deutsche can educate senior management within the company.