LSEG unifies global finance ops on Oracle Cloud

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Having made a raft of acquisition, the exchange operator is seeking to streamline its operations, replacing 17 legacy finance systems with Oracle.

With Oracle Fusion Cloud and Oracle Financial Services Applications running on a unified platform, LSEG says it will increase efficiency, reduce costs, and improve its financial planning, forecasting, and controls.

Joanna Fielding, group head, transformation, finance, LSEG, says: “With Oracle Cloud, we will be better able to align our financial operations to enhance performance, make better use of data, increase efficiency, and streamline billing – all while delivering outstanding service to customers.”

Last year, LSEG agreed a 10-year deal with Microsoft for cloud, data analytics and workspace products across the exchange operator’s entire technology architecture. Microsoft also acquired a four per cent stake in the operator.