Fjársýsla Ríkisins, the Financial Management Authority of Iceland, has migrated its critical databases to Oracle Exadata Cloud@Customer as part of a broader digital innovation initiative to consolidate and modernize its technology infrastructure. The shift to a cloud database environment can enable Fjársýsla Ríkisins to reduce costs and accelerate the development of new digital services for government departments, public sector entities, and constituents.

Advania, a member of Oracle PartnerNetwork, is managing this implementation as managed services provider.

Fjársýsla Ríkisins provides financial services to the Treasury of the Government of Iceland as well as the central government and its key ministries. To support critical operational and business applications including central finance, budget planning, supply chain, procurement, and HR management systems, Fjársýsla Ríkisins aimed to ensure system performance, scalability, and availability, as well as compliance with data security and locality regulations.

Migrating its systems to Oracle Exadata Cloud@Customer, a hybrid cloud database platform delivered as a managed service by Advania, has enabled Fjársýsla Ríkisins to significantly improve application latency—including up to 300% acceleration of data processing and analytics for its core applications—while aiming to retain full control of data governance. In addition, Oracle Exadata Cloud@Customer provides data management automation features that help Fjársýsla Ríkisins increase operational efficiency and reduce costs.

“High performance and availability of our systems are fundamental in helping us meet our growing public service demands. Oracle Exadata Cloud@Customer supports us in fulfilling our performance and efficiency targets,” said Sigurjón Þráinsson, director at Fjársýsla Ríkisins. “Oracle provides us with a highly scalable and flexible platform, enabling us to quickly and cost-effectively migrate mission-critical systems to a cloud infrastructure while striving to ensure we maintain full control of our data management and meet data residency requirements.”

“Oracle Exadata Cloud@Customer provides Fjársýsla Ríkisins with advanced database performance and availability to accommodate the delivery and scaling of a wide range of business-critical services, while helping the agency to meet stringent data residency requirements,” said Marc Jardorf, Country Manger Denmark and Iceland, Oracle. ”Our distributed cloud approach can enable customers such as Fjársýsla Ríkisins to keep data and applications where they need them—one reason why we are seeing significant traction for Oracle Exadata Cloud@Customer in the public sector, financial services, telecoms, and other highly-regulated industries around the world.”

Exadata Cloud@Customer combines one of the world’s leading database technologies and Exadata, one of the most powerful database platforms, with the simplicity, agility, elasticity, and subscription pricing benefits of a cloud-based deployment. It runs Oracle Exadata Database Service and Oracle Autonomous Database, similar to the public cloud, but is located in customers’ own data centers and managed by Oracle Cloud experts. This can enable a consistent cloud experience for customers whether on-premises or in Oracle Cloud Infrastructure (OCI) data centers.