Deutsche Bank partners with Oracle to accelerate its digital transformation
Now Reading
Deutsche Bank partners with Oracle to accelerate its digital transformation

Deutsche Bank partners with Oracle to accelerate its digital transformation

The two companies have also agreed to form a joint innovation partnership

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

The agreement will see Deutsche Bank upgrade its existing database systems and migrate the bulk of its Oracle Database estate to 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 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, a statement said.

The move will enable Deutsche Bank to consolidate existing critical applications on a single platform while complying with its data residency requirements and significantly reducing operational costs.

Oracle’s service can run in Deutsche Bank’s current data centres as well as in future cloud co-location sites, minimising latency while supporting the shift of applications to the cloud. It will enable Deutsche Bank to drive data integration across its business in order to streamline operations, provide unified oversight of core service processes and implementations, and develop and scale applications based on customer demand.

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 develop new financial products and services.

“Data is fundamental to how we manage our operations, anticipate the needs of our customers and design new products and services,” said Bernd Leukert, chief technology, data and innovation officer at Deutsche Bank.

“Our collaboration with Oracle to modernise our databases will play an important role in our overall technology transformation,” he said.

“We will simplify and modernise our technology environment, save the bank significant costs and reduce energy consumption through consolidated servers.”

Juan Loaiza, executive vice president, Mission-Critical Database Technologies at Oracle added: “Now more than ever, financial services organisations like Deutsche Bank must quickly adopt new technologies and maintain speed-of-innovation while also meeting their data security and locality requirements in an always-changing regulatory environment.”

You might also like

© 2021 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top