Nordea Bank Reduces Data Management Costs With Automated Information Lifecycle Management

Nordea Bank wanted to reduce data storage costs and requirements associated with managing increasing quantities of transactional data in Nordea's Market division and accelerate access to business data, while reducing troublesome and expensive backups. The challenge was to improve the management of transactional data from across disparate financial systems, applications, and processes to secure faster and more reliable transactions and ensure business continuity with the ability to rapidly recover transactional data in the event of an outage - an essential requirement in the financial services market. Nordea Bank reduced data storage costs significantly with Oracle Database, by classifying data into a series of lifecycle phases and automating its management, compliance, and eventual deletion.