Summary: New Oracle offerings will aid Westpac in its quest to have a single-view for customer data and to speed up transaction processing.
Original Post from Spandas Lui
Westpac has selected Oracle to fulfil the bank's single-view customer data vision and to help simplify its IT infrastructure.
Westpac has adopted the vendor's Exadata Database Machine and Exalogic Elastic Cloud for the ongoing deployment of Oracle-based master data management (MDM) applications to replace the banks' aging IT systems. The MDM, underpinned by Oracle's Siebel Universal Customer Master offering, will facilitate a "single pane of glass" view of customer data, and will be used for all of Westpac's retail banking transactions.
It can capture and standardise customer data, as well as eliminate duplicate records.
All this will be implemented and managed by Oracle Managed Cloud Services.
"By combining the existing Oracle applications with Oracle Engineered Systems, Westpac has built on a robust platform that will deliver scalability, flexibility, reliability, security, and sustainability, while also reducing complexity internally," Ian White, Oracle's Australia and New Zealand managing director, said in a statement.
The bank has conducted a number of performance tests, and expects to see improved system performance and significant cost savings over the next five years from the new system. The new systems will be able to process up to 10,000 transactions per second, a vast improvement compared to the old infrastructure that Westpac is currently running.
"Providing more flexible and agile branches, and continuing to innovate in online and mobile are key to the success of our strategy," Westpac CTO Jeff Jacobs said in a statement. "Oracle's platform will help us provide a single source of customer truth that delivers a consistent and high quality experience — irrespective of how our customers choose to bank with us."
Suncorp and NAB have already sought the help of Oracle for large-scale core banking IT infrastructure overhauls.
Earlier this month, Oracle opened a second datacentre in Australia to support growing demand for cloud services by local clients.
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