Oracle Financials

It is a well known that that most of the top banks around the world are using Oracle Financials which is greatly helpful for them to streamline their business processes, meet their increasing demands of regulatory compliance, improve cost-efficiency and provide greater value and quality to the customers. With the great combination of strengths such as Oracle Applications, Oracle E-Business Suite, People Soft and Siebel, Oracle has been able to provide a broad functionality to help banks grow their business effectively and optimize their performance.

Oracle is a powerful blend of pre-integrated and comprehensive business applications and technology, especially designed for banks. The best part about Oracle is that it has been built with several open standards and these applications specific to the banking industry make it easier to understand why most of the top banks in the world rely upon Oracle.

It not only involves a huge deal of technology but also excellent business applications. The strategies of the software program have been based upon the following principles:

• Utilisation of the web services (Service Oriented Architecture)
• Business processes for modelling how the software of the bank works
• Industry standards such as J2EE
• BI tools incorporated into the relevant business transactions
• Easy management of lower TCO
• Grid computing for lowering the costs and increasing the safety

The program can be used in any part of the world because of local language support and local tax compliance. Taxes are the most demanding one and because most countries have exclusive tax requirements, it can prove to be a challenging ERP compliance. Language support is no longer a major problem now-a-days and because it used to be a major question in the earlier years, all the popular systems have programs for translation.

Oracle Financials has proved to be a major service provider for banking solutions and the Flexcube program of Oracle is an overall product of banking product suitable for retail, corporate, investment, asset and consumer management. It is also suitable for investor servicing. The Daybreak program of Oracle helps the banks in reducing the risks and increasing their productivity throughout their entire cycle of consumer lending. The Reveleus program from Oracle delivers analytical applications to the banks for risk management and compliance and the Oracle Platform for Mantas Behaviour Detection is one of the most comprehensive solutions in the industry for detecting risks, for enhancing relationships with the customers and for anti-financial laundering.