The bank selected Oracle Exadata Cloud@Customer to consolidate key databases in its selected data centers

Deutsche Bank announced partnership with Oracle. Source: shutterstock.com

Deutsche Bank and Oracle have announced a multi-year collaboration to modernize 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 Oracle Exadata Cloud@Customer, an on-premises deployment option of the Oracle Exadata Cloud Service. That would support applications that either will not move to the public cloud or may in the future.

According to the press release, migrating its systems to Oracle Exadata Cloud@Customer 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 centers as well as in future cloud co-location sites, minimizing latency while supporting the shift of applications to the cloud.

It will allow Deutsche Bank to drive data integration across its business in order to streamline operations, provide unified oversight of core service processes and implementations, and easily 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 shape the design of new financial products and services.

We’ve reported that more than half of Americans are in financial recovery mode.

SEE ALSO:

• Top 5 cybersecurity lessons for banks
• Bearish vs bullish: difference explained
• Swish: the unique nature of Swedish payment app