This is delivered through its unique Location Independent AgileTM delivery model, recognised as a benchmark of excellence in software development.Ī part of the Tata group, India's largest multinational business group, TCS has over 453,000 of the world’s best-trained consultants in 46 countries. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. Tata Consultancy Services is an IT services, consulting and business solutions organisation that has been partnering with many of the world’s largest businesses on their transformation journeys for over 50 years. Postbank Systems has its headquarters in Bonn, Germany, and has about 1,500 employees working from Berlin, Bonn, Frankfurt, Hamburg, Hamelin, Hanover, Munich, Nuremberg and Saarbruecken.Ībout Tata Consultancy Services Ltd. The company provides its project, application management and infrastructure operations services exclusively to the Postbank brand, BHW “Bausparkasse” and further subsidiaries of Deutsche Bank. Postbank Systems is a full-range captive IT service provider that bundles the IT competence of the former Postbank. Deutsche Bank is the leading bank in Germany with strong European roots and a global network. ![]() It will result in the acceleration of expected transformation impacts of approximately 120 million euros as part of the strategy announcement in July 2019.ĭeutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. The transaction represents an additional step in Deutsche Bank’s transformation and is consistent with previously-communicated financial plans. Furthermore, the transaction is subject to customary regulatory and governmental approvals. The transaction is subject to both parties finalising further agreements, which they intend to do by year-end-2020. It will serve to further deepen the existing strong relationship with TCS. The transaction will not affect Deutsche Bank’s plans nor disrupt its schedule for modernising its IT platform. The acquisition of Postbank Systems will contribute to Tata Consultancy Services continued growth in Germany and in the Financial Services Industry. TCS is an IT services, consulting and business solutions organisation with over 453,000 consultants in 46 countries. ![]() “We warmly welcome Postbank Systems’ IT professionals into the TCS family, and invite them to avail the learning and development opportunities here, and help script the next chapter of TCS’ growth in Germany.” “We are pleased to deepen our long-standing partnership with Deutsche Bank, continue to help accelerate their digital transformation, and to acquire market specific capabilities in the banking domain,” said N G Subramaniam, Chief Operating Officer and Executive Director, TCS. It provides clarity to Postbank Systems staff and gives them the opportunity to become part of the success and growth story of TCS.” With this transaction, we have agreed a structure that serves all parties’ interests. We are confident that TCS is the ideal owner for Postbank Systems. TCS is already a trusted IT services partner for Deutsche Bank and this strengthens our relationship further. The sale represents an important step forward for Deutsche Bank’s announced strategic transformation.īernd Leukert, Chief Technology, Data and Innovation Officer at Deutsche Bank said: “As part of our move to one technology organisation, we are consolidating the IT platform for our retail banking brand Postbank into the Deutsche Bank platform. ![]() Postbank Systems and its around 1,500 employees will become part of TCS. ![]() Under the terms of the transaction, TCS will acquire 100 percent of the shares of Postbank Systems AG from Deutsche Bank AG. Deutsche Bank and Tata Consultancy Services (TCS) today announced an agreement concerning the sale of Postbank Systems AG to TCS.
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