Société Générale’s GEFA BANK Taps DXC Technology in Journey to Public Cloud

Rhea-AI Summary

DXC Technology (NYSE:DXC) partners with GEFA BANK for a significant digital transformation initiative— the 'G-Rocket' program. This will involve migrating GEFA's critical applications to Microsoft Azure, enhancing flexibility and scalability. The collaboration extends until October 2027, with the goal of completing the migration by September 2022. Through this project, DXC aims to reduce time-to-market for new services and bolster development for innovative financial products, leveraging cloud-native technologies like Azure Kubernetes Service.

Positive

• Partnership with GEFA BANK for the 'G-Rocket' digital transformation initiative.
• Migration of critical applications to Microsoft Azure enhances operational flexibility.
• Planned completion of migration by September 2022 to improve service delivery.
• Extended cooperation until October 2027 indicates strong business relationship.

Negative

• Forward-looking statements present risks and uncertainties, including impacts from the COVID-19 pandemic.

DXC helps GEFA prepare for the future of banking

BÖBLINGEN, Germany--(BUSINESS WIRE)-- GEFA BANK, a leading financing partner for German SMEs and subsidiary of Société Générale, has selected DXC Technology (NYSE:DXC) for a ground-breaking digital transformation project. With the "G-Rocket” program, GEFA BANK and DXC Technology will migrate the bank’s mission-critical applications and data from its existing data center to Microsoft’s Azure cloud platform.

GEFA BANK office in Wuppertal, Germany (Credit: GEFA BANK)

"By moving to the cloud, GEFA is modernizing its IT infrastructure and gaining a higher degree of flexibility and scalability," says Michael Quint, CIO of GEFA BANK. "Together with our partner DXC, we have developed a transformation program to prepare ourselves technologically, as well as organizationally, for the future of banking. DXC has implemented a flexible, end-to-end operating model based on the cloud compliance and security framework of our parent company."

In addition, DXC has put in place a training program with its partner Microsoft to prepare selected GEFA BANK experts for the future operation of the new cloud solution.

“DXC has many years of experience in the banking and capital markets industry. With cloud, the rate of transformation and innovation in this sector has accelerated exponentially," said Marc-Alexander Drews, Banking & Capital Markets Sales Executive at DXC. "Using our Cloud Right approach, we are not only supporting GEFA with their technology transition to the cloud, but also empowering their IT teams to realize its full potential.”

With the move to the Azure cloud, GEFA BANK and DXC will systematically deploy the bank’s application landscape to cloud-native services such as Azure Kubernetes Service (AKS). As a result of this containerization approach, GEFA BANK will reduce the time-to-market for new services and create a modern development environment for innovative financial products.

"The G-Rocket program and the cloud migration of business-critical applications is a unique challenge. Based on our many years of positive collaboration, DXC is the right partner for this transformation," added Michael Quint.

Against this background, GEFA BANK and DXC have agreed to continue their cooperation until October 2027. The completion of the data center migration is planned for September 2022.

GEFA BANK

With over 70 years of industry experience, GEFA BANK is one of Germany's leading providers of sales and investment financing for mobile assets. The wholly owned subsidiary of the international banking group Société Générale provides a wide range of financing products, including leasing, credit, hire-purchase as well as purchase and rental park financing for German medium-sized companies. In addition, GEFA BANK offers overnight and fixed-term deposit solutions for private and business customers.

About DXC Technology

DXC Technology (NYSE: DXC) helps global companies run their mission critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private, and hybrid clouds. The world’s largest companies and public sector organizations trust DXC to deploy services across the Enterprise Technology Stack to drive new levels of performance, competitiveness, and customer experience. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.

Forward Looking Statement

All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” These statements represent current expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved. Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control. Furthermore, many of these risks and uncertainties are currently amplified by and may continue to be amplified by or may, in the future, be amplified by the coronavirus disease 2019 pandemic and the impact of varying private and governmental responses that affect our customers, employees, vendors and the economies and communities where they operate. For a written description of these factors, see the section titled “Risk Factors” in DXC’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021, and any updating information in subsequent SEC filings, including DXC’s Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2021.

No assurance can be given that any goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements, which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220317005532/en/

Christina Trauntschnig

Head of Marketing and Communication, DXC DACH

ctrauntschni@dxc.com

Jonathan Batty

PR Director, DXC EMEA

Jonathan.batty@dxc.com

Dagmar Uhlenbrock,

Marketing, GEFA BANK

dagmar.uhlenbrock@gefa.de

Source: DXC Technology

FAQ

What is the G-Rocket program by DXC and GEFA BANK?

The G-Rocket program is a digital transformation initiative that involves migrating GEFA BANK's mission-critical applications to Microsoft Azure.

When is the completion date for GEFA BANK's data center migration?

The data center migration is planned for completion by September 2022.

What benefits does DXC claim for the G-Rocket program?

DXC claims the G-Rocket program will enhance flexibility, scalability, and speed to market for new services.

How long will DXC and GEFA BANK collaborate?

DXC and GEFA BANK have agreed to extend their cooperation until October 2027.

What cloud technologies will GEFA BANK utilize in this transformation?

GEFA BANK will utilize Azure cloud-native services, including Azure Kubernetes Service (AKS), in their transformation.