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Updates to Oracle FLEXCUBE Help Banks Deliver a Superior Customer Experience, Modernize Processing, and Stay Compliant(Marketwire Via Acquire Media NewsEdge) BOSTON, MA and SAN FRANCISCO, CA -- (Marketwired) -- 09/30/14 -- SIBOS and ORACLE OPENWORLD, SAN FRANCISCO -- Oracle (NYSE: ORCL) News SummaryToday's financial services landscape calls for a more human-centric approach to banking, and one that enables key stakeholders -- including customers, bankers, operations staff, and technology staff -- to stay ahead of fast-changing regulatory guidelines while continuing to drive improved performance. The latest release of Oracle FLEXCUBE helps financial institutions meet these challenges with new features that enhance financial products and touchpoints throughout the banking lifecycle. News Facts Oracle today introduced new capabilities to Oracle FLEXCUBE Release 12 that help financial institutions empower their customers with richer, more personalized self-service; foster better communication among key stakeholders; enhance business process management; and improve regulatory compliance.Empowering Customers With the new personal financial management capabilities in Oracle FLEXCUBE Release 12, banks can enable customers to better manage their finances through improved spend analysis, budget management, goal-based savings accounts, and people-like-me comparison. Oracle FLEXCUBE Release 12 also makes it possible for banks to cater to customers' evolving digital lifestyles with enhanced internet and mobile banking services. This includes engaging in more context-specific communications based on high-fidelity financial insight and transaction-specific triggers and alerts. SWIFT 2014 and FATCA Compliance Oracle FLEXCUBE has received the certification for SWIFT Certified Application Payments Label 2014. The SWIFT Certified Application - Payments label focuses on the certification of core banking or payments applications that enable the initiation, generation, processing, and settlement of interbank payments. This label is awarded to business applications that adhere to a specific set of criteria linked to the support of SWIFT messages, SWIFT connectivity, and SWIFT functionality. The latest release of Oracle FLEXCUBE enables banks to comply with FATCA phase II, with capabilities to flag customers and track financial transactions for FATCA compliance. Modernize Banking at Its Core The latest release of Oracle FLEXCUBE builds on the product's deep corporate banking capability with new features that allow banks to modernize their corporate banking capabilities with support for virtual accounts, corporate credit cards, corporate-to-bank connectivity, and advanced payment features. Corporate customers have easy modes of payment through physical instruments (such as checks, demand draft, and pay order), can get payment advice and balance movement reports, and can authorize transactions on the move from mobile and tablet devices. Oracle FLEXCUBE now supports end-to-end servicing capabilities backed by improved functionality across retail bills, lending, deposits, current and savings accounts, treasury, and payment operations. The solution now also includes a credit appraisal management system to help streamline credit approval and sanction processes. The latest release also delivers enhanced business process management capabilities enabled by Oracle FLEXCUBE Universal Banking Process Framework Base. The framework has work-list applications; tools for scoring, evaluation, and auto-decisioning; process enablers; integration adaptors; and factory-shipped process flows that help banks quickly create and maintain processes that can reduce time to market for new products, increase process automation, and improve operational efficiency. Oracle FLEXCUBE Developers Annual Conclave Oracle Financial Services hosted the third annual Oracle FLEXCUBE Developers Conclave from 25 to 28 August, 2014. More than 150 of Oracle's customers and partners from more than 40 countries attended and received training on how to leverage Oracle FLEXCUBE open development tools to meet new business requirements by leveraging Oracle FLEXCUBE web services for integration. New Oracle University certifications for Oracle FLEXCUBE are now available, allowing partners to train and obtain certification for functional, technical, and advanced levels. Supporting Quotes "Financial institutions are constantly working to address changing customer needs and evolving regulatory requirements while at the same trying to streamline their business operations," said Chet Kamat, senior vice president, Oracle Financial Services Global Business Unit. "The latest release of Oracle FLEXCUBE offers banks the ability to deliver services that exceed customers expectations and to modernize their banking operations, thereby reducing complexity and looking to the future with confidence".Supporting Resources Oracle Financial Services Oracle FLEXCUBE Follow Oracle Financial Services on Twitter Join the Oracle Financial Services Community on Facebook Follow the Oracle Financial Services blog Subscribe to the Oracle Financial Services YouTube channelAbout Oracle Oracle engineers hardware and software to work together in the cloud and in your data center. For more information about Oracle (NYSE: ORCL), visit www.oracle.com. About Oracle OpenWorldOracle OpenWorld San Francisco is the most important business and technology conference of the year for Oracle customers, prospective customers, and partners. This educational conference is dedicated to helping businesses optimize existing systems and understand upcoming industry trends and breakthroughs driven by technology. Oracle OpenWorld offers more than 2,700 educational sessions, hundreds of demos and hands-on labs, and exhibitions from more than 400 partners and customers from around the world showcasing applications, middleware, database, server and storage systems, industries, management, cloud, and infrastructure solutions -- all engineered for innovation. Oracle OpenWorld 2014 is being held September 28 through October 2 at the Moscone Center in San Francisco. For more information; to register; or to watch Oracle OpenWorld keynotes, sessions, and more, visit www.oracle.com/openworld. Join the Oracle OpenWorld discussion on Twitter, Facebook, and the Oracle OpenWorld blog. About JavaOneThe JavaOne conference brings together Java experts and enthusiasts for an extraordinary week of learning and networking focused entirely on all things Java. With more than 550 sessions covering topics that span the breadth of the Java universe, keynotes from foremost Java visionaries, tutorials, and expert-led hands-on learning opportunities, JavaOne is the world's most important event for the Java community. Join the JavaOne discussion on Twitter, Facebook, LinkedIn, and the JavaOne blog. Trademarks Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners. This document is for informational purposes only and may not be incorporated into a contract or agreement. Contact Info Valerie Beaudett Oracle +1.650.400.7833 Email Contact Mary Tobin O'Keeffe & Company +1.503.658.7396 Email Contact Source: Oracle Corporation |