HSBC Bank set to go digital with Oracle

British multinational financial services organisation HSBC Bank has announced partnership with Oracle to drive its digital transformation goals.

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 is said to help support and scale the bank’s mission-critical systems and services.

HSBC’s Chief Technology Officer, Frank McGrath said they are heading on a digital transformation journey to innovate faster for customers. 

“We chose Oracle 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 to expand our business,” he added. 

Oracle Exadata Cloud@Customer is an Oracle Cloud Infrastructure (OCI) service that provides a secure, highly-available cloud platform for the bank to use Oracle databases in support of its critical systems, while retaining control on data governance and security regulations. 

HSBC said it can now easily bring cloud automation to manage legacy applications, and scale services according to customer and local-market demands.

“We intend to transform our technology infrastructure to speed up development and delivery of new products and services,” he said. 

As financial organisations adopt new technologies and transform themselves to tap into new market opportunities, Oracle said it is working with HSBC to consolidate critical systems on a secure, scalable on-premises cloud platform and develop next gen services.  

The bank is said to make its products more secure, readily available and build digital capabilities across its workforce.

Earlier in November, HSBC partnered with international financial centre Abu Dhabi Global Market Digital Lab to test and develop solutions for the financial services sector.