Oracle has announced that Bank of America has selected Oracle’s cloud-based ERP and financial applications for its international general ledger and broker-dealer systems.
Bank of America’s continued focus on technology modernization has positioned it as a contemporary technology company, said Cathy Bessant, chief operations and technology officer.
The agreement with Oracle is about our technology and culture and the companies both expect to learn with and from each other to deliver the best solutions, she added, noting that Bank of America anticipates that 80% of its technology workloads will be delivered on the cloud within the next few years. This solution for general ledger reflects its evolving strategy and the improvements in cloud security and economics, she explained.
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