Cloud technology company Oracle is expanding its presence in Spain with a $1 billion investment to open a new cloud region in Madrid, specifically targeting the financial services sector. This move will provide customers with the opportunity to transition critical workloads to Oracle Cloud Infrastructure (OCI) while adhering to regulations such as the Digital Operational Resilience Act (DORA) and European Outsourcing Guidelines.
Managed by Telefónica Spain, this new region will complement Oracle’s existing EU Sovereign Cloud in Madrid, which is designed to handle sensitive and regulated data. Albert Triola, country leader of Oracle Spain, stated, “With our plans to invest an additional billion dollars in Spain over the next 10 years, we reaffirm our commitment to assisting Spanish organizations in adopting cloud technologies to enhance business performance and resilience.”
The Madrid-based region promises low-latency access, high availability, and disaster recovery capabilities, all of which will be essential for financial services looking to integrate OCI while remaining compliant with regulatory frameworks.
This strategic investment by Oracle demonstrates the company’s dedication to supporting Spanish organizations in leveraging cloud technologies to drive innovation and growth. With a focus on the financial services sector, this new cloud region in Madrid will provide businesses with the tools and infrastructure needed to enhance their operations and remain competitive in a rapidly evolving digital landscape. Oracle’s commitment to compliance with regulatory standards further reinforces its position as a trusted partner for organizations looking to leverage the power of the cloud securely and efficiently.
Article Source
https://iteuropa.com/news/oracle-plans-invest-1bn-launch-third-cloud-region-spain