Leading MENA bank adopts Oracle Exadata Cloud@Customer to enhance scalability, streamline operations, and ensure compliance with local data regulations
Dubai, UAE, and Austin, Texas—October 16, 2024—Mashreq, a prominent financial institution in the MENA region, has announced the migration of its key databases to the Oracle Exadata Cloud@Customer platform. This move, part of an expanded collaboration with Oracle, is aimed at accelerating the bank’s global expansion efforts across key markets such as the United States, United Kingdom, Hong Kong, Oman, and Pakistan.
Mashreq has been modernizing its operations using Oracle Banking Solutions, and the adoption of Oracle Exadata Cloud@Customer marks a significant step in this transformation. The platform will help Mashreq enhance the performance, scalability, and availability of its systems. Its advanced data management automation will improve operational efficiency and reduce costs, while supporting compliance with data security and residency requirements.
“Migrating our mission-critical databases to Oracle Exadata Cloud@Customer aligns with our strategic goals of driving international growth, boosting operational efficiency, and delivering innovative services,” said Mohamed Abdel Razek, Group Head of Tech, Transformation & Information at Mashreq. “The flexibility and scalability offered by Oracle’s platform allow us to transition seamlessly to the cloud while maintaining robust control over data management and governance.”
Oracle Exadata Cloud@Customer will empower Mashreq to deliver and scale essential banking services while adapting to changing data locality regulations. “Our distributed cloud approach gives customers like Mashreq the flexibility to keep data where needed, which is why Oracle Exadata Cloud@Customer is gaining traction in financial services and other highly-regulated sectors worldwide,” said Nick Redshaw, Senior Vice President, Technology, Middle East and Africa, and UAE Country Leader, Oracle.
Bringing the power and automation of Oracle Exadata and Oracle Autonomous Database into Mashreq’s data centers, Oracle Exadata Cloud@Customer minimizes latency between applications and data. It combines the benefits of one of the world’s leading database platforms with the agility and subscription pricing of a cloud-based solution. The platform ensures a consistent cloud experience, whether on-premises or in the public Oracle Cloud Infrastructure (OCI) environment.
