Lloyds Adopts Oracle Cloud Tech to Expedite Transformation
Lloyds Banking Group has expanded its collaboration with Oracle to accelerate its technological transformation programme.
The multi-year agreement will see Lloyds advance its multicloud strategy by migrating Oracle databases, which support business functions and banking services, to Oracle Database@Azure.
This technology enables Lloyds to run Oracle databases on Oracle Cloud Infrastructure (OCI) deployed within Microsoft Azure data centres, combining technologies from both vendors.
Lloyds is also implementing Oracle Exadata Cloud@Customer to operate databases in its own data centres.
With OCI's distributed cloud architecture, Oracle database services can function inside Azure data centres or on-premises with consistent capabilities and operating models.
Joe Soule, CIO of Enabling Services at Lloyds Banking Group, says: “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 deploy Oracle databases on-premises or in the public cloud, in combination with Microsoft Azure through a multicloud approach, enables us to accelerate the pace at which we adopt digital technologies.
“This ensures we can support our customers with improved services and experience.”
Accelerating cloud migration
Through this partnership, Lloyds has increased its cloud transition speed, helping it bring new products and capabilities to market faster, while improving performance, security and availability of its services.
Richard Smith, EVP and General Manager of EMEA Cloud Infrastructure at Oracle, adds: “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 this approach to the cloud, Lloyds can streamline its migration and enable more innovation for its customers.”
Multicloud deployment options
Oracle Database@Azure delivers Oracle Database functionality on OCI with Microsoft Azure's security features.
The service allows customers to migrate on-premises Oracle databases to the cloud without redesigning their applications, a process that typically requires significant time and resources.
The service is now available in 14 regions worldwide, with 18 additional regions planned within the next 12 months. A region in cloud terminology refers to a geographical area containing one or more data centres.
Oracle's distributed cloud portfolio includes public cloud regions that serve organisations of various sizes; dedicated cloud options allowing customers to run OCI cloud services in their own data centres; hybrid cloud solutions delivering key cloud services on-premises via products such as Oracle Exadata Cloud@Customer; and multicloud deployments physically located within other cloud providers including AWS, Google Cloud and Microsoft Azure.
This approach provides organisations like Lloyds with options to maintain certain workloads on-premises for regulatory or latency requirements while moving others to public cloud environments based on business needs.
Connection to AI developments
The partnership with Lloyds comes as Oracle launches its AI Agent Studio for Fusion Applications, a platform for creating and managing AI agents across enterprises. The tool allows Oracle customers to create customised AI agents for complex business tasks.
Financial institutions like Lloyds could benefit from combining Oracle's database infrastructure with AI agents built using the new studio. The platform offers template libraries, team orchestration capabilities, and integration with Oracle Fusion Applications.
"AI agents are the next phase of evolution in enterprise applications," said Steve Miranda, executive vice president of applications at Oracle.
This development positions Oracle to support financial services firms with both cloud infrastructure and AI solutions as banks increasingly rely on automation to improve customer experience and operational efficiency.
Explore the latest edition of FinTech Magazine and be part of the conversation at our global conference series, FinTech LIVE.
Discover all our upcoming events and secure your tickets today.
FinTech Magazine is a BizClik brand
