History and milestones:
a specialist bank with a consistent track record
dwpbank in its current form was created on 4 August 2003 as a result of the merger of bws bank and WPS Bank. These two predecessor banks had been positioning themselves as central service providers for the German Cooperative Financial Services Network and the German Savings Banks Finance Group since the 1990s.
In March 2007, dwpbank continued to grow with the acquisition of TxB Transaktionsbank GmbH. TxB, which initially remained a wholly owned subsidiary of the “dwpbank Group”, was merged into dwpbank on 25 August 2008. As TxB’s universal successor, dwpbank took over all of its employees and clients.
dwpbank has continued to expand its client base since then and has demonstrated its expertise in implementing complex migration projects such as with the acquisition of Dresdner Bank’s retail securities settlement activities. The first pinnacle of this development was reached with the preliminary completion of the 2010 systems consolidation, which saw the successful migration of SEB, the German Cooperative Financial Services Network, BayernLB, Helaba and approximately 120 savings banks to dwpbank’s central securities settlement platform WP2 within a single year.
|Migration of around 50 savings banks from Baden-Württemberg|
|Migration of 24 savings banks from Rhineland-Palatinate|
|Migration of BHF-BANK
to WP2 after just 11 months of project work
Strategic agreement with savings banks associations
in Rhineland-Palatinate and Baden-Württemberg relating to future securities settlement activities
|"Year of migrations"
Three key steps successfully taken towards systems consolidation – migration of German Cooperative Financial Services Network and SEB, and completion of WIS migration project. All dwpbank clients on WP2
|Ready for the definitive withholding tax
Securities business from five local credit cooperatives for the first time via dwpbank's WP2 platform
|Merger of TxB with dwpbank
is implemented two years before the deadline
|Acquisition of TxB Transaktionsbank GmbH
giving rise to the dwpbank Group; TxB's former owners (Bayerische Landesbank, Landesbank Hessen-Thüringen Girozentrale and HSH Nordbank AG) acquire a 10% total stake in dwpbank
|WP2 Release 2 goes live
as does the web-based relaunch of WPDirect
|Pilot clients of the BVS system
are migrated to the WP2 platform; three subsequent migrations over the year
|90 savings banks and three state banks migrated on schedule|
|Deutsche WertpapierService Bank AG (dwpbank)
is founded from the merger of Bank für Wertpapierservice und -systeme AG (bws bank) and WPS WertpapierService Bank AG (WPS Bank)