Oracle Launches Cloud Banking Services

  • Oracle launched Banking Cloud Services, a suite of six services to help banks modernize their offerings.
  • Banks can mix and match the services and use them as standalone capabilities or incorporate them within their existing infrastructure.
  • Oracle has financial services clients in 140 countries and manages risk for 24 of the 28 top systemically important financial institutions.

Cloud application services company Oracle unveiled Banking Cloud Services, a set of six composable cloud native services aimed to help banks modernize their capabilities.

“Banks must innovate to succeed in today’s hyper competitive environment,” said Oracle Financial Services Executive Vice President and General Manager Sonny Singh. “We have built one of the world’s most comprehensive suites of cloud-native SaaS solutions so that banks of all sizes can innovate with speed, security, and scale without compromising their existing environments.”

Banks can select any combination of the six services as standalone capabilities or to work within their existing infrastructure. The Banking Cloud Services include:

Banking Accounts Cloud Service
This service offers scalable demand deposit account processing that integrates with a bank’s existing process flows and technology.

Banking Payments Cloud Service
The payments tool facilitates real-time processing for payment types including for cross-border, high-value, bulk, retail, and 24×7 payments.

Banking Enterprise Limits and Collateral Management Cloud Service
This service offers banks a holistic view of their collateral management exposure and reduces risk by tracking exposure, credit underwriting, decisions, and approvals.

Banking Origination Cloud Service
This tool helps banks streamline the onboarding process and automate underwriting decisioning for retail and small business customers. The automation helps banks scale originations to increase deposit and credit volumes.

Banking Digital Experience Cloud Service
This digital banking solution serves as a customer acquisition tool that offers digital experiences supported by video, chatbot, AI, and natural language processing-based engagement tools.

Banking APIs Cloud Service
Oracle Banking APIs Cloud Service offers more than 1,800 banking APIs to help banks establish an open banking platform that boosts innovation while remaining compliant. Banks can leverage open banking to improve their customer experience and increase revenue by embedding their services among third party providers.

Oracle is a 46-year-old company based in San Francisco. The firm has financial services clients in 140 countries and manages risk for 24 of the 28 top systemically important financial institutions. Oracle is publicly listed on the New York Stock Exchange under the ticker ORCL and has a current market capitalization of $236 billion.


Photo by Pixabay

Source: https://finovate.com/oracle-launches-cloud-banking-services/

Source: https://webfulnet.com/

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