Bank of America Selects Oracle Cloud for ERP and Financials

REDWOOD SHORES, Calif., June 26, 2017 /PRNewswire/ -- Oracle ORCL announced today that Bank of America 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."

About Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,600 retail financial centers, approximately 15,900 ATMs, and award-winning digital banking with approximately 35 million active users and more than 22 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock BAC is listed on the New York Stock Exchange.

About Oracle
The Oracle Cloud offers complete SaaS application suites for ERP, HCM and CX, plus best-in-class database Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) from data centers throughout the Americas, Europe and Asia. For more information about Oracle ORCL, please visit us at oracle.com.

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SOURCE Oracle