Oracle (NYSE: ORCL) announced today that Bank of America (NYSE: BAC) has selected Oracle’s cloud-based ERP and financial applications for both its international general ledger and its broker-dealer systems.
Oracle is the world leader in Cloud ERP systems. The company now has more than five thousand Fusion Financial cloud applications customers installed worldwide.
“Bank of America is among the most sophisticated applications customers in the world,” said Mark Hurd, CEO, Oracle. “Companies in record numbers are migrating legacy ERP applications to Oracle ERP Cloud. Oracle will deliver Bank of America the most modern, complete, global ERP applications in the world.”
“Our continued focus on technology modernization has positioned Bank of America as a contemporary technology company,” said Cathy Bessant, Chief Operations and Technology Officer. “Our agreement with Oracle is about our technology and culture; we’ll learn with and from each other to deliver the best solutions. We anticipate 80 percent of our technology workloads will be delivered on the cloud within the next few years, and this solution for general ledger reflects our evolving strategy and the improvements in cloud security and economics.”