According to foreign media reports, Deutsche Bank has invited Microsoft, Google and Amazon to bid for a complete revamp of its already outdated technology network.
The move is part of a 13 billion euro ($14.2 billion) technology investment plan by 2022, people familiar with the matter said. Currently, Deutsche Bank is restructuring to recover from years of losses.
Bernd Leukert, chief technology officer of German software giant sap, has recently joined Deutsche Bank's board to oversee the plan, the report said.
In response, Deutsche Bank said in a statement: "in order to help us evaluate future options, we have started bidding with several cloud service providers. We expect this bidding process to be completed in the coming months. "
Technology is a challenge for all banks around the world, industry insiders say. This is especially true for Deutsche Bank, which has experienced rapid global expansion, including a series of acquisitions, and has encountered many challenges in coordinating its network.
