Strap: Global bank, Deutsche Bank has signed a multi-year database deal with leading technology giant Oracle.
Copy: Global bank, Deutsche Bank has signed a multi-year collaboration deal with Oracle to overhaul its myriad databases with the aim of providing a dedicated platform to support the bank’s trading, payments processing, risk and capital planning and regulatory reporting.
As a part of the agreement, the bank will 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 might do it in the future.
The bank is looking to consolidate existing critical applications on a single platform while complying with its data resiliency requirements will significantly reducing operational costs. The service can run in the 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.
Deutsche Bank and Oracle have also agreed to form a joint innovation partnership to bring together 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.
The German bank’s modernisation initiative with Google Cloud is also supported by this transformation exercise with Oracle.
“Data is fundamental to how we manage our operations, anticipate the needs of our customers and design new products and services. Our collaboration with Oracle to modernise our databases will play an important role in our overall technology transformation,” says Bernd Leukert, chief technology, data and innovation officer, Deutsche Bank.
He added, “Our applications supported by Oracle Exadata Cloud@Customer will benefit from a platform with the flexibility to adapt and scale critical services at speed, as well as derive better data insights. In the process, we will simplify and modernise our technology environment, save the bank significant costs and reduce energy consumption through consolidated servers.”