Lloyds Banking Group expands cloud migration partnership with Oracle
Lloyds Banking Group has expanded its multi-year partnership with Oracle as part of its ongoing cloud strategy as the company looks to boost its tech transformation.
Lloyds Banking Group expands tech partnership with Oracle
As part of the deal, the group is set to migrate the Oracle databases supporting its business functions and banking services to Oracle Database@Azure.
This solution is the result of Oracle’s ongoing collaboration with Microsoft, and seeks to unify separate cloud environments by deploying Oracle Cloud Infrastructure (OCI) on Oracle Exadata from within Microsoft Azure data centres.
Oracle Database@Azure first hit the market in the US in December 2023, before later being extended to the UK, among other European regions, the following March.
Additionally, Lloyds has also selected Oracle Exadata Cloud@Customer which will enable the group to run to the Oracle Exadata database platform in its own on-premises data centres and cloud systems.
Oracle Exadata Cloud@Customer was also selected by Paris-headquartered banking group BNP Paribas in January this year.
In announcing the deployment at Lloyds, Oracle says that this solution, which is currently live in 14 regions globally, will be expanded to 18 additional regions “in the next 12 months”.
Oracle says that this expanded partnership will enable Lloyds to “speed up its transition to the cloud, helping deliver new products and capabilities to market faster, while boosting the performance, security, resilience, and availability of its services”.
Joe Soule, CIO of enabling services at Lloyds, says the deployment “enables us to accelerate the pace at which we adopt digital technologies”, amid a continued focus on “growth and diversifying our business”.
This focus also led to the launch of a new cybersecurity tool called the Global Correlation Engine by the group earlier this month.
The solution stores, analyses, and cross-references alerts from various cybersecurity systems to detect “common attributes, trends, and potential connections between different alerts”, a launch statement by the bank explains.
