Yoma Bank announced that it will leverage Oracle solution, to create a hybrid data analytics platform, aimed at serving internal business users and allowing management to make decisions based on insights derived from the analysis, according to a press release 22 February.
As the most progressive bank in Myanmar, Yoma Bank is a frontrunner in digital and believes data analytics is a critical success factor.
“Analytics are essential for Yoma Bank to understand the needs of our customers. The Oracle analytic solution will enhance our ability to leverage analytics and give us the confidence to make the best strategic decisions. We chose Oracle because of its recognized expertise in technology, history in data analytics, and data management,” said Mr. Hal Bosher, CEO, Yoma Bank.
From April 2019, Yoma Bank will use Oracle to process, consume and manage internal banking data. Yoma Bank will also leverage Oracle Infrastructure as a Service (IaaS) to support the security and manageability of its technology deployment. Over time, Yoma Bank may process more of its data on Oracle Cloud, including the development of a data lake.
“Data and the management of data is a core driver of our cloud solution portfolio. Advances in data analytics are driven by the need for today’s businesses to generate deeper insights as they look to develop new and improved offerings for customers and internal use. We are excited to work with Yoma Bank, as it pioneers yet another digital banking initiative in Myanmar,” said Mr.Cherian Varghese, Regional Managing Director, Oracle ASEAN.