Piraeus Bank and Oracle announced the expansion of their strategic partnership with the signing of a new Memorandum of Understanding (MoU).
This new agreement further strengthens the strategic relationship between the two organizations, with a shared vision of accelerating the Bank’s digital transformation and providing innovative, secure and sustainable financial services to its customers.
The new MoU follows on from the January 2024 agreement and lays the foundation for further collaboration in key areas of digital transformation, with the aim of:
• implementing the Bank’s multi-cloud strategy by leveraging Oracle Cloud Infrastructure (OCI),
• accelerating innovation through co-creation labs and collaborations in the field of Artificial Intelligence, data analytics, cybersecurity and cloud-native application development,
• adopting genetic AI to automate knowledge-intensive processes,
• creating training and certification programs to upgrade the skills of the Bank’s people in AI and Data Science,
• strengthening the Bank’s ESG initiatives, through consulting and leveraging technologies that support sustainable development.
Haris Margaritis, Group Chief Operating Officer (COO) of Piraeus, stated: “Following our strategic partnership with Oracle, we are investing in technologies that strengthen the Bank’s resilience, efficiency and innovation.
Artificial Intelligence, Cloud and sustainability solutions are critical pillars of our transformation, and through this agreement we strengthen our ability to offer modern, secure and sustainable banking services to our customers.”
In turn, Hans Olav Hamran, Vice President Oracle Cloud Infrastructure North East, said: “We are excited to renew and expand our strategic partnership with Piraeus Bank. Oracle is at the forefront of technology and working with such a demanding and innovative customer confirms our significant advantages in the areas of security, reliability and high performance. Cloud and Artificial Intelligence are key pillars of Oracle’s service development strategy, and we are proud to collaborate with Piraeus Bank in these areas.”
