Deutsche Bank has announced a multi-year collaboration with Oracle to modernise the bank’s database technology and accelerate its 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-premise deployment option of the Oracle Exadata Cloud service, to support applications that will not move to the public cloud or may in the future. This will provide a dedicated 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.
By migrating its systems to Oracle, Deutsche Bank will be able to consolidate critical applications on a single platform whilst complying with its data residency requirements and reducing operational costs.
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.
Bernd Leukert, chief technology, data and innovation officer at Deutsche Bank said: “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. 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.”
Juan Loaiza, executive vice president of 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. Oracle Exadata Cloud@Customer is designed to help Deutsche Bank achieve this balance, and we are looking forward to partnering with one of the financial sector’s most progressive digital innovators as we help shape the next generation of financial services and business models.”
