“We achieved significant cost savings on infrastructure while improving cost transparency and cost allocation. We can now see on each server who owns it, which cost center it belongs to, and who is the responsible system operator.”
BearingPoint RegTech provides regulatory and risk technology solutions to stakeholders across the regulatory value chain, including banks and insurance companies as well as regulators. In 2017, a unit of the consulting firm BearingPoint, RegTech, launched a new version of its flagship product, Abacus360 Banking, to deliver faster data processing.
BearingPoint RegTech needed a powerful server infrastructure that delivered flexible development environments with a high capacity testing effort. Its existing infrastructure—a proprietary cloud service based on OpenStack—had reached its capacity limit. The company decided it needed a different cloud infrastructure to accommodate a new, cloud-native version of the software.
Direct customer support sets Oracle apart from other vendors. If there is anything I need, we have a brief call and find a solution relatively quickly.
Why Bearing Point Chose Oracle
On Oracle Cloud Infrastructure, BearingPoint RegTech could provision new development environments much faster while staying within budget. Oracle also provided the data security and auditability BearingPoint RegTech needs to comply with banking rules and regulations.
Oracle Cloud Infrastructure provided a broad portfolio of compute, storage, and networking services to run a new version of Abacus360 banking, delivering a significant performance improvement as job completion time was notably reduced. The results prompted a full migration to Oracle Cloud Infrastructure.
BearingPoint RegTech also calculated it saved on infrastructure costs for the first wave of 75 servers that it migrated to Oracle Cloud Infrastructure. It can provision a new development environment much faster. It now has 130 standardized virtual servers on Oracle Cloud Infrastructure. Its testing is more accurate due to no variation in the infrastructure, and it can update with just a few clicks.
Oracle Cloud also allows BearingPoint RegTech to allocate infrastructure costs to the business units and cost centers that generate them, which is important for cost management and budget planning for the development teams. Meanwhile, developers have become more likely to shut down a server they no longer use because a new one can be provisioned quickly, further reducing infrastructure waste.
BearingPoint RegTech now has the flexibility to install whatever combination of operating system, database, and Java versions it wants, which improves testing and application quality. In addition, the systems provided can be tailored precisely to the customer's setup.