NORD/LB Supports Multi-Year, Bank-Wide IT Transformation with Confluent
“Confluent’s technology continues to provide the opportunity to develop competitively differentiated products for the future and is the technology we’ll take our next steps with.”
Challenge
Help drive a bank-wide transformation that includes a 500 million euro investment in new IT systems and digitalization initiatives
Solution
Set data in motion with Confluent to develop a new core banking platform, enabling improved real-time analytics, fraud detection, and customer retention.
Results
- Competitive differentiator established
- Event streaming adoption streamlined
- Streaming infrastructure costs reduced
With total assets of more than 164 billion euros, NORD/LB Norddeutsche Landesbank is one of Germany's leading commercial banks. The bank is in the midst of an enterprise-wide transformation program, NORD/LB 2024, in which it will invest about 500 million euros in new IT systems and digitalization initiatives.
As part of the NORD/LB 2024 program, the bank is developing a new core banking platform based on event streaming with Confluent. In addition to enabling more advanced, real-time analytics across the bank, this platform will support improvements in fraud detection, customer retention, and trade/investment analysis, as well as new products that will differentiate NORD/LB from its competitors in the market.
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