RTTNews | Jun 24, 2021 04:20AM EDT

04:20 Thursday, June 24, 2021 (RTTNews.com) - Oracle (ORCL) announced Thursday a multi-year collaboration with Germany's Deutsche Bank (DB) to modernize the bank's database technology and accelerate its digital transformation.

Under the agreement, Deutsche 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.

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.

The two companies have also agreed to form a joint innovation partnership. Under this, the companies will 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.

Read the original article on RTTNews ( https://www.rttnews.com/3204641/oracle-in-multi-year-deal-to-accelerate-deutsche-bank-s-technology-modernization.aspx)

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