Deutsche Bank began a 10-year digital transformation program called Project Nucleus in 2012. It is a multibillion-dollar initiative to modernize the bank’s global IT environment and aims to significantly reduce related IT infrastructure costs. It’s predicated on moving from capex to an opex model.

Under the terms of the agreement, which mainly covers wholesale banking IT infrastructure, HPE is providing managed private cloud products including storage, platform and hosting. It will move the bank’s IT infrastructure from traditional, on-premises IT to a utility/new style of IT based on HPE Helion Managed Private Cloud including a consumption-based, utility pricing model.

It’s a key change from how the bank has been operating. To this end, HPE is assuming financial and operational responsibility for 20 datacenters globally. HPE has around 25% of the entire Nucleus project and within that it is delivering around 70% of the business case, with the bank is responsible for the other 30%.

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