Bank of America has selected Oracle’s cloud-based ERP and financial applications for its international general ledger and its broker-dealer systems.
Bank of America is making substantial investment in technology modernization to enhance customer experience.
“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,” said Cathy Bessant, chief operations and technology officer.
Oracle claims it is the world leader in Cloud ERP systems. The company has more than 5,000 Fusion Financial cloud applications customers installed worldwide.
“Bank of America is among the most sophisticated applications customers in the world,” said Mark Hurd, CEO of 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.”
