HSBC updates database systems with Oracle

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Oracle and HSBC are collaborating 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 centres. 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 which will enable HSBC to continue to use Oracle databases in support of its critical systems, while retaining control of its data governance.

The Oracle platform will also help with HSBC’s cloud automation so that the bank can manage its legacy applications more easily, as well as scale services according to customer and local market demands.

The collaboration is part of HSBC’s multi-year push to update 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 digitise the bank at scale, so that we can innovate faster for customers, and our collaboration with Oracle is important in advancing this transformation agenda. 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,” said Frank McGrath, Chief Technology Officer, HSBC.

“Financial organisations adopt new technologies, and transform themselves to tap into new market opportunities, while meeting demanding data residency and security requirements. We are working closely with HSBC to achieve 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 deepening our collaboration with HSBC as we help deliver the next generation of financial services,” said Garrett Ilg, President Japan and Asia Pacific, Oracle.