Lloyds Banking Group has deepened its collaboration with Oracle to further enhance its technological infrastructure.
Through this expanded partnership, Lloyds aims to accelerate its cloud migration, enhancing product development speed while improving the resilience and security of its services.
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The UK lender will transition its Oracle databases, which are crucial for its banking operations, to Oracle Database@Azure as part of a new multi-year agreement.
This setup enables the bank to operate Oracle databases on Oracle Cloud Infrastructure (OCI) using Oracle Exadata, hosted within Microsoft Azure data centres.
Oracle Database@Azure offers the performance and scalability of Oracle Database on OCI, while also leveraging the “flexibility” and security provided by Microsoft Azure.
Additionally, it allows for the development of “low latency”, cloud-native applications that integrate both Oracle Cloud Infrastructure (OCI) and Azure technologies.
The service is currently accessible in 14 regions globally, with plans to expand to 18 additional regions within the next year.
Lloyds is also using Oracle Exadata Cloud@Customer to manage several databases within its own data centres.
OCI’s distributed cloud allows Oracle database services to be deployed in Azure data centres or on-site, ensuring consistent functionality and operations.
This allows Lloyds to deliver faster and more agile services to its customers, the tech vendor said in a statement.
Oracle’s distributed cloud offerings comprise public, dedicated, hybrid, and multi-cloud options.
Lloyds Banking Group Enabling Services CIO Joe Soule said: “As we focus on growth and diversifying our business, maximising our use of data across the Group becomes critical so that we can innovate and deliver new services faster for our customers.
“The ability to flexibly deploy Oracle databases on-premises or in the public cloud, in combination with Microsoft Azure through a multi-cloud approach, enables us to accelerate the pace at which we adopt digital technologies.
“This ensures we can support our customers with high-performing services and the best customer experience possible.”
Oracle EMEA Cloud Infrastructure executive vice-president and general manager Richard Smith said: “Few sectors are evolving as rapidly as the financial services industry when it comes to cloud adoption.
“Lloyds is one of the companies at the forefront of this transition. By taking advantage of the industry’s most comprehensive and flexible approach to the cloud, Lloyds can streamline its migration to the cloud and enable more innovation for its customers.”
Earlier this month, a Financial Times report said that Lloyds is transferring a significant number of its IT jobs from the UK to India.
