Software firm Oracle has been approached by Deutsche Bank to help simplify their IT systems and cut their costs by several million euros. Oracle is planning to shift DB’s payments, trading, and risk management to one system which will take 3-5 years. The implementation should help reduce their annual costs to 16.7 bn by 2022 from 19.5 bn in 2020. Oracle will be creating its largest cloud to date for Deutsche Bank for enhanced data security.

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