As banks focus on their core competencies, they are better able to offer their best-in-class services to other banks, as shown by Germany’s Postbank. Deutsche Bank and Dresdner Bank have both signed agreements to have their domestic payments processed by Postbank, making it one of Germany’s leading payment clearing houses.
The deals are of great significance to Postbank, and signal the consolidation of the German banking market.
Postbank, Deutsche and Dresdner also plan to develop a joint SAP-based IT platform, and Postbank plans to offer the same services to other partners in the near future. It currently handles more than 10 million transactions per day.