Mogo Inc. has revealed a strategic partnership with Oracle Cloud Infrastructure (OCI) to accelerate innovation and bolster the long-term growth of its digital wealth platform.
Mogo is a leading player in Canada’s financial technology landscape, serving over 2m members with accessible digital solutions designed to help them accumulate wealth and achieve financial independence. The company’s digital wealth platform encompasses MogoTrade, which offers Canadians an affordable and user-friendly investment avenue, and Moka, providing automated, fully-managed, flat-fee investment options.
In its pursuit of growth within core markets while striving to remain a cost-effective provider, Mogo places a strong emphasis on operational efficiency and profitability. Migrating to Oracle Cloud Infrastructure will enable Mogo to modernise its infrastructure, reduce costs, and enhance its platform by deploying new products and incorporating AI applications.
David Feller, founder and CEO, Mogo, said, “Our vision is to get millions of Canadians on a path to financial freedom by giving them low-cost digital solutions that make it easy to invest and grow their wealth while making a positive impact with every investment. “As we grow our wealth platform, we wanted a cloud partner that will help us maximise innovation while lowering our total infrastructure costs. OCI offers the right combination of performance and price to support our goals.”
Chris Markopoulos, Group Vice President at Oracle, said, “In the highly competitive financial services industry, organisations need to streamline the delivery of new products and services as cost-effectively as possible. By migrating to OCI, Mogo will be able to leverage a highly scalable cloud infrastructure that helps reduce time-to-market for new offerings across Mogo’s digital wealth platform. With OCI, Mogo can achieve the double benefit of accelerating innovation while reducing costs.”
This partnership between Mogo and Oracle Cloud Infrastructure represents a significant step towards optimising Mogo’s digital wealth platform, aligning it with the evolving needs and expectations of its customers and the broader financial services industry.
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