Volkswagen Financial Services in tech overhaul with Oracle

Volkswagen Financial Services has teamed up with Oracle to modernize its database technologies, complying with data security and local regulations. VWFS migrated the majority of its databases to Oracle’s cloud database platform, Oracle Exadata Cloud@Customer.

Facts

  • Volkswagen Financial Services (VWFS) partners with Oracle to modernize its database technologies.
  • VWFS will use Oracle’s platform to support its European operations while complying with data security and local regulations.
  • Oracle’s cloud platform has helped VWFS “significantly improve” the performance and availability of core services.
  • VWFS has experienced up to 60% latency reductions for critical applications and over 50% acceleration of data analytics processes.
  • Oracle’s solutions have enabled VWFS to automate its data management, boosting its operational efficiency.
  • With Oracle Exadata Cloud@Customer, VWFS can maintain full control of its data management and keep data close to its customers.
  • Matthias Knappstein, head of IT operations at Volkswagen Financial Services, stated that “With Oracle Exadata Cloud@Customer, we have been able to quickly migrate mission-critical systems to a cloud infrastructure.”
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

NYSE Parent Invests $600M in Polymarket, Strengthening Market Position

This significant investment signals confidence in the future of predictive markets.Highlights: NYSE's parent company allocates $600M to Polymarket.Investment...

Nexi Expands SEPA Direct Debit with Danish Banks, Enhancing Payments Integration

Nexi's collaboration with Danish banks aims to strengthen payment services across Europe.Highlights: Nexi partners with several Danish banks...

Lloyds Confirms App Glitch Exposed Data of Almost Half a Million Customers

The significant data breach prompts concerns over customer privacy.Highlights: Lloyds Banking Group admits to a data breach affecting...

Mastercard Restricts Sale of Nets Payments Unit Purchased for $3.2 Billion

Mastercard looks to divest its Nets payments segment as part of strategic realignment.Highlights: Mastercard is seeking to sell...