Oracle and HSBC Announce New Strategic Alliance

As part of this year’s Oracle CloudWorld announcement, Oracle and HSBC announced a new strategic collaboration aimed at accelerating the progress of banks’ digital transformation.

Under a new 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 overall purpose of this deployment is to help support and scale HSBC’s mission-critical systems and services.

Oracle Exadata Cloud@Customer is an Oracle Cloud Infrastructure (OCI) service that provides a cloud platform. This will allow HSBC to continue using its Oracle database to support critical systems while maintaining control over data governance. This also allows you to meet data locality and security regulations.

In addition to this, the Oracle platform is set up to make it easier for HSBC to deploy cloud automation to manage legacy applications and scale services according to customer and regional market demands.

It was also noted that the collaboration contributes to HSBC’s multi-year initiative as the company seeks to transform its technology infrastructure to accelerate the development, delivery and scaling of new products and services. rice field.

It also aims to increase the safety and availability of its products and enable the building of digital capabilities and skills across HSBC’s workforce.

HSBC Chief Technology Officer Frank McGrath said Oracle technology was chosen because it provides a database-as-a-service platform and offers a variety of popular database options.

“Our strategy is to digitize the bank at scale so we can innovate faster for our customers. Working with Oracle is key to advancing this transformational agenda.” ’ he says.

“A key reason we chose Exadata Cloud@Customer was its ability to provide a well-known database with database-as-a-service benefits, providing the performance and It gives us operational agility.”

Garrett Ilg, President of Japan and Asia Pacific at Oracle, said he looks forward to helping HSBC deliver better financial services through secure data integration and cloud technology.

“Financial institutions are adopting new technologies and transforming themselves to take advantage of new market opportunities while meeting stringent data residency and security requirements,” he says.

“We are working closely with HSBC to achieve this balance, consolidating our critical systems into a secure and scalable on-premises cloud platform, enabling us to develop cloud-based services more quickly – the next generation of financial services. .”