Deutsche Bank to use Oracle's Exadata Cloud@Customer offering

Deutsche Bank and Oracle announced a partnership to modernize Deutsche Bank's database stack and speed up the bank's digital transformation.

The multi-year agreement will witness the bank's database system upgradation and migration to an on-premises deployment option of the Oracle Exadata Cloud Service called Oracle Exadata Cloud@Customer.

Chief Technology, Data and Innovation Officer, Deutsche Bank, Bernd Leukert, 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 modernize 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 modernize our technology environment, save the bank significant costs and reduce energy consumption through consolidated servers." 

Executive Vice President, Mission-Critical Database Technologies, Oracle, Juan Loaiza, said, "Now more than ever, financial services organizations 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.

The partnership will also execute Deutsche Bank's multi-year digital transformation initiative. Additionally, Deutsche Bank’s existing data centers can run Oracle’s service. Also, future expansion to cloud co-location sites is also possible thereby minimizing latency while supporting the shift of applications to the cloud. 

Both companies have also formed a joint innovation partnership. The collaboration will try to identify use-cases for data security technologies, blockchain, AI, and analytics in offering new financial products and services, notes the announcement.