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Topics and trends related to the Oracle PartnerNetwork (OPN) Program & Oracle Cloud product strategy.

Win Over Financial Services Prospects with MySQL Enterprise Edition

Guest Author

From the smallest local credit unions to the largest banks across the globe, there are three significant challenges facing their IT leaders today:

  • Gaining a competitive edge through digital transformation initiatives;
  • Staying ahead of today’s sophisticated cybersecurity landscape;
  • Keeping up with heavy and shifting compliance standards;

These challenges present the perfect opportunity for partners to help customers in the Financial Services Industry (FSI) modernize their businesses through selling MySQL Enterprise Edition (EE) licenses and offering services around it.

 

MySQL is at the Center of Today’s Evolution

MySQL is the second most widely deployed database in the world – second only to Oracle. Today’s largest and most disruptive companies like Facebook, Twitter, YouTube, and Uber utilize it to power their popular services.

Many of your FSI customers are likely already using MySQL Community Edition (the freely downloadable, open source version of MySQL) in some capacity. There are millions of existing users and thousands of new downloads every day, so you don’t need to look far to find potential customers!

While MySQL Community Edition is a wonderful and extremely popular product, your FSI customers will benefit from the comprehensive set of advanced features, management tools, and technical support that MySQL EE offers. FSIs will require these features designed for the enterprise to meet the challenges of today’s digital landscape. This opens opportunities for partners to spread the word about the benefits of MySQL EE.

MySQL EE is the cloud-native database of choice for microservices and containers, making it possible for small banks and large FSIs to build modern, scalable applications while mitigating some of the risk of using public cloud. This not only allows any FSI to compete at the same level as their biggest competitors, but MySQL EE enables companies to achieve the highest levels of security­­ – giving CIOs and IT professionals peace of mind with advanced features, such as:

Designed to help FSIs meet database-specific PCI requirements, such as authenticated access to cardholder data and two-factor authentication for remote access, MySQL EE also contributes to achieving GDPR compliance through tools like MySQL Enterprise Monitor and MySQL Enterprise Workbench, which help assess risk and identify security vulnerabilities.

 

Case in Point: MySQL in Financial Services

Our case studies demonstrate compelling evidence of MySQL EE’s value. In one example, the Bank of Finland used MySQL EE as an embedded database within its product to provide a turnkey, easy to use, and powerful simulation application. An excellent example of innovation in practice, it has since been adopted by over 50 central banks worldwide, as well as other financial and academic institutions for research purposes.

 “MySQL represents a very reliable and strong foundation for a computational analysis application like ours and has been a key to its success.”
- Matti Hellqvist, Bank of Finland

 

Partners Can Leverage MySQL EE Licenses to Increase Sales Opportunities

Why should existing Oracle partners be interested in positioning MySQL EE to your FSI customers?  By expanding your focus on MySQL EE you can grow your pipeline through new opportunities and services revenue while increasing your bottom line.  Take advantage of the opportunity to:

  • Establish a Steady Stream of Revenue: Selling MySQL EE subscriptions and renewals allows you to generate reliable and predictable income year after year.
  • Expand Your Service Offerings: Wrap services around MySQL EE licenses and take advantage of the high margins that managed services and consulting can generate.  Margins can be increased up to 4x on digital transformation services.
  • Open Source Momentum: Take advantage of the momentum behind open source databases in the marketplace. According to Gartner, by 2022, “more than 70% of new applications developed by corporate users will run on an open source database management system.”
  • Leverage Your Existing Oracle Customer Base: Our research shows that 70% of Oracle Database users already have MySQL Community Edition somewhere in their environment, making MySQL EE the logical leap for improved business value, security, and compliance.

 

Adding MySQL to Your Solution Mix

We encourage you to work with our channel team to expedite the go-to-market timeframes for adding MySQL EE to your solution mix.

  • View this on-demand webcast on best practices for positioning MySQL Enterprise Edition.
  • Get in touch with your Oracle VAD and/or MySQL channel manager. They’re ready to support you with quotes, customer sales conversations, and more.
  • Contact your MySQL channel manager who can provide you with a MySQL download list for your top accounts, so you know which customers to target.

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