Deutsche Bank chooses Oracle for digital transformation

Thursday 24 June 2021 14:57 CET | News

Oracle and Deutsche Bank have announced a multi-year collaboration to modernise the bank's database technology and accelerate its digital transformation.

The agreement will see Deutsche Bank upgrade its existing database systems and migrate the bulk of its Oracle Database estate to Oracle Exadata Cloud@Customer, an on-premises deployment option of the Oracle Exadata Cloud Service, to support applications that either will not move to the public cloud or may in the future.

This will provide a dedicated platform to support and scale the bank's existing mission-critical systems and services including trading, payments processing, risk and capital planning, and regulatory reporting.

Migrating its systems to Oracle Exadata Cloud@Customer will help Deutsche Bank to consolidate existing critical applications on a single platform while complying with its data residency requirements and reducing operational costs, as the press release says. Oracle's service can run in Deutsche Bank's current data centres as well as in future cloud co-location sites.

The two companies have also agreed to form a joint innovation partnership, bringing together Oracle and Deutsche Bank engineering and technology teams to explore potential uses for data security technologies, blockchain, AI, and analytics to shape the design of new financial products and services.

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Keywords: partnership, Deutsche Bank, digitalisation, digital banking
Categories: Banking & Fintech
Countries: World
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Banking & Fintech

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