Banks accelerate the move to the cloud with new Oracle Banking services
February 08, 2023
The six new services available provide banks with highly scalable corporate demand deposit account processing; enterprise-wide limits and collateral management; real-time ISO20022 global payment processing; API management; retail onboarding and originations; and new self-service digital experience capabilities. Built on a microservices architecture, they help banks renovate and modernise their business capabilities faster and with less risk.
“Banks must innovate to succeed in today’s hyper competitive environment,” said Sonny Singh, Executive Vice President And General Manager of Oracle Financial Services. “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.”
The services can run standalone, work seamlessly together, and coexist with existing applications to help banks lower costs and risks while increasing innovation. Banks benefit from faster provisioning and availability which can be achieved in a matter of minutes and gain automated patching and reduced disaster recovery switchover times, lowering IT costs and burden.
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