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HSBC, Oracle announce strategic collaboration

HSBC, Oracle announce strategic collaboration

Under the multi-year agreement, HSBC will upgrade and migrate select database systems to Oracle Exadata [email protected]

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Oracle and HSBC have announced a strategic collaboration to accelerate the bank’s digital transformation.

Under the multi-year agreement, HSBC will upgrade and migrate select database systems to Oracle Exadata [email protected], a cloud platform delivered as a managed infrastructure service in HSBC’s data centres. The deployment will support and scale the bank’s mission-critical systems and services.

Oracle Exadata [email protected] is an Oracle Cloud Infrastructure  service that provides a secure cloud platform that enables HSBC to continue to use Oracle databases in support of its critical systems while retaining control of its data governance, thereby meeting data locality and security regulation.

The Oracle platform will also enable HSBC to more easily bring cloud automation to manage legacy applications and scale services according to customer’s emerging demands.

“Our strategy is to digitise the bank at scale, so that we can innovate faster for customers, and our collaboration with Oracle is important in advancing this transformation agenda,” said Frank McGrath, chief technology officer, HSBC. “We chose Exadata [email protected] primarily for its ability to offer well known databases, with the benefit of a database-as-a-service platform, giving us the performance and operational agility we need as we continue to grow and diversify our business.”

“Financial organisations are rapidly adopting new technologies and transforming their operations as they tap into new market opportunities while meeting more demanding data locality and privacy requirements,” said Richard Smith, executive vice president – Technology – EMEA, Oracle. “Our partnership with HSBC is based on achieving this balance, enabling it to consolidate critical systems on a secure, scalable on-premises cloud platform and develop cloud-based services faster. We look forward to our collaboration with HSBC as we help deliver the next generation of financial services.”

Read: Oracle boosts investment in Abu Dhabi with new innovation hub

Also read: Oracle’s Dubai cloud region receives DESC certification

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