PaineWebber has named Oracle as core database provider for its Unix and Windows NT platforms.
PaineWebber plans to use Oracle8i to power all of its existing and new distributed applications, from e-commerce to other private client initiatives such as stock option finance. Under the agreement, more than 25,000 users in almost 400 locations will use applications built on Oracle8i.
Eric Rabinowitz, corporate vice president of data resource management for PaineWebber, says the aim is to provide a standardised foundation for applications company-wide while speeding time-to-market for emerging e-commerce services.
Implementation is to begin immediately, he says, with conversion of existing applications to the Oracle database platform expected to occur over the next two to three years. When the change-over is complete, Oracle8i will run all distributed applications, including the production systems in the firm's home office and 385 branches.
Some of the early Oracle8i deliverables include mail management, stock option finance, bond exchange, and a legal/compliance data warehouse.