Deutsche Bank taps Oracle to simplify its IT, cut costs

By Patricia Uhlig
FILE PHOTO The Oracle logo is shown on an office building in Irvine California U.S. June 28 2018. REUTERSMike BlakeFile Photo

FILE PHOTO: The Oracle logo is shown on an office building in Irvine, California, U.S. June 28, 2018. REUTERS/Mike Blake/File Photo

FRANKFURT (Reuters) -Deutsche Bank has tapped software firm Oracle to simplify its information technology systems, enabling Germany's top lender to cut costs, a Deutsche Bank board member said on Thursday.

Deutsche Bank has spent years modernising its computer systems that have repeatedly caused headaches and which former Chief Executive John Cryan had publicly called "lousy".

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