Oracle Launched New Upgarded Oracle FLEXCUBE for Finanacial Institutions

Nov 8, 2013 (Fri): Oracle Financial Services Software Limited today introduced new Oracle FLEXCUBE capabilities that help financial institutions to support regulatory compliance, offer richer and more personalized customer experiences, improve performance and streamline their IT environments.

Oracle FLEXCUBE has expanded capabilities to support these areas including new contactless payment and rich, personalized portal enhancements as well as new Society for Worldwide Interbank Financial Telecommunication (SWIFT) certification and Foreign Account Tax Compliance Act (FATCA) compliance.

“Financial institutions are grappling with evolving customer and regulatory requirements and the need to reduce IT complexity,” said Chet Kamat, CEO & Managing Director, Oracle Financial Services Software. “The latest enhancements to Oracle FLEXCUBE help banks to provide an enhanced customer experience, meet industry standards, such as FATCA regulations and SWIFT standards, as well as streamline compliance, reduce risk and minimize IT complexity.”

Oracle FLEXCUBE Mobile Banking now supports contactless payments, including near field communication (NFC), quick response (QR) code support, person-to-person (P2P) and social media payments, enabling banks to offer a new level of convenience and flexibility for customers.

In addition the new Oracle FLEXCUBE Direct Banking enables banks to provide more comprehensive, flexible and consistent service as well as greater customer convenience with end-to-end multi-channel, multi-step and multi-device collaborative originations capabilities for retail and corporate customers. It also provides expanded customer self-subscription and onboarding features and enables full-scale straight through processing (STP) and support for offline processing.

The enhanced Oracle FLEXCUBE platform also integrates more easily with multiple channels, such as call centers, ATMs and kiosks to quickly and effectively enable customers to access their accounts.

To help financial institutions better divide and compare transactional data while managing profitablity, cost and performance, Oracle also includes Oracle FLEXCUBE Information Server. This new capability enables users to analyze products, review current profitability data and trends to better optimize business decisions and manage competitive pressures, and review standard reports and enhance accountability by monitoring branch-level performance.

Author: Terry KS

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