Mashreq, a leading financial services institution in the MENA region, is migrating critical databases to Exadata Database Service on Oracle Exadata Cloud@Customer as part of an expansion of its global collaboration with Oracle.
The shift to a cloud database environment will enable Mashreq to accelerate and scale its operations as the bank grows its presence in key international hubs. These include the United States, United Kingdom, Hong Kong, Oman, and Pakistan.
Improving performance, scalability
Mashreq has invested heavily in modernizing operations across its business with Oracle Banking Solutions. As the bank grows internationally, Oracle Exadata Cloud@Customer will enable Mashreq to improve the performance, scalability, and availability of these systems, while data management automation features will help Mashreq increase operational efficiency and reduce costs. Deployed at Mashreq, the Oracle Exadata Cloud@Customer will enable the bank to retain control of data governance and support compliance with its data security and residency regulations.
Read: Mashreq closes AED-denominated $136.13 million syndicated loan for TDB
“Migrating our mission-critical databases to Oracle Exadata Cloud@Customer supports our strategic objectives for international growth, operational efficiency, organizational resilience and innovation to deliver the new products and services that our customers need through personalized experiences,” said Mohamed Abdel Razek, group head of Tech, Transformation & Information, Mashreq. “Oracle provides us with a highly scalable and flexible platform and leading financial services applications, that enable us to quickly and cost-effectively move to a cloud environment while helping us maintain full control of our data management and governance while enhancing our banking operations and delivering new services to our customers.”
Meeting regulations
“Oracle Exadata Cloud@Customer will provide advanced database performance and availability to support the delivery and scaling of a wide range of business-critical services, while helping the bank meet evolving data locality regulations,” said Nick Redshaw, senior vice president, Technology, Middle East and Africa, and UAE country leader, Oracle. “Our distributed cloud approach enables customers such as Mashreq to keep data and applications where they need them — one reason why we are seeing significant traction for Oracle Exadata Cloud@Customer in financial services and other highly-regulated industries around the world,” he added.
Oracle Exadata Cloud@Customer brings the performance, automation, and economics of Exadata Database Service and the fully managed Oracle autonomous database into Mashreq’s data centers, minimizing latency between applications and data.
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