Multinational banking group selects Oracle
Exadata Cloud@Customer to simplify operational management and
leverage cloud automation
LAS
VEGAS, Oct. 18, 2022 /PRNewswire/ -- Oracle
CloudWorld -- Oracle and HSBC, one of the world's largest
financial services organizations, today 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
Cloud@Customer, a cloud platform delivered as a managed
infrastructure service in HSBC's own data centers. The deployment
will help support and scale the bank's mission-critical systems and
services.
Oracle Exadata Cloud@Customer is an Oracle Cloud Infrastructure
(OCI) service that provides a secure, highly-available 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
regulations. The Oracle platform will also enable HSBC to more
easily bring cloud automation to manage legacy applications, and
easily scale services according to customer and local-market
demands.
The collaboration contributes to HSBC's multi-year initiative to
transform its technology infrastructure to speed up the
development, delivery and scaling of new products and services;
make its products more secure and available; and build digital
capabilities and skills across its workforce.
"Our strategy is to digitize 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 Cloud@Customer 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 organizations 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."
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SOURCE Oracle