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- 7 May 2019 09:00
Deutsche Bank Activates Digital Transformation with Red Hat
RED HAT SUMMIT 2019, BOSTON, MA – 7 May, 2019 - Red Hat, Inc. (NYSE: RHT), 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—modernising 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 standardises 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.
Red Hat will host a press conference live from Red Hat Summit at 11 a.m. EDT on Wednesday, May 8. Following remarks, press and analysts are invited to participate in a live question and answer session.
To register for the press conference or view the replay after the event, visit https://onlinexperiences.com/Launch/QReg/ShowUUID=45D50AF9-7E2C-4F8C-8606-B85EBDA927AC
Ashesh Badani, senior vice president, Cloud Platforms, Red Hat
"As we continue to move forward in this era of digital transformation, organisations 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.”
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About Red Hat, Inc.
Red Hat is the world’s leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardise on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organisations prepare for the digital future.
Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to our pending merger with International Business Machines Corporation, the ability of the Company to compete effectively; the ability to deliver and stimulate demand for new products and technological innovations on a timely basis; delays or reductions in information technology spending; the integration of acquisitions and the ability to market successfully acquired technologies and products; risks related to errors or defects in our offerings and third-party products upon which our offerings depend; risks related to the security of our offerings and other data security vulnerabilities; fluctuations in exchange rates; changes in and a dependence on key personnel; the effects of industry consolidation; uncertainty and adverse results in litigation and related settlements; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; the ability to meet financial and operational challenges encountered in our international operations; and ineffective management of, and control over, the Company's growth and international operations, as well as other factors contained in our most recent Annual Report on Form 10-K (copies of which may be accessed through the Securities and Exchange Commission's website at www.sec.gov), including those found therein under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic and political conditions, governmental and public policy changes and the impact of natural disasters such as earthquakes and floods. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.
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