BaaS based bank-to-bank partnership has immense potential to achieve higher revenue realisation since they can operate in a highly regulated environment where the customer's interests are always protected. There is high viability to industrialise a bank's niche offering built over time to another bank's customer base creating significant synergies and revenue streams.

BaaS based bank-to-bank partnership has immense potential to achieve higher revenue realisation since they can operate in a highly regulated environment where the customer's interests are always...

34% of total AML transaction monitoring systems in production in 2019 were SaaS based. As SaaS becomes an emerging theme in the financial crime space, Oracle explores the approach to adopting a SaaS model for midsized banks, and its potential benefits.

34% of total AML transaction monitoring systems in production in 2019 were SaaS based. As SaaS becomes an emerging theme in the financial crime space, Oracle explores the approach to adopting a SaaS...

Healthcare regulations are constantly changing—and healthcare payers are operating amid significant disruption and compliance challenges. COVID- 19 is upending core operations as new mandates on interoperability and transparency issued by the Centers for Medicare & Medicaid Services (CMS) put data competencies under a microscope. Oracle explores how technology can help.

Healthcare regulations are constantly changing—and healthcare payers are operating amid significant disruption and compliance challenges. COVID- 19 is upending core operations as new mandates on...

Adoption of cloud technologies has grown dramatically in the past several years, and it was incredible to see this transformation. How does a cloud adoption journey look like, and what are the possible benefits? Oracle and Humana share more in this excerpt.

Adoption of cloud technologies has grown dramatically in the past several years, and it was incredible to see this transformation. How does a cloud adoption journey look like, and what are...

Oracle and RIA Advisory have partnered to bring Oracle Revenue Management and Billing (ORMB) to public sector agencies. The solution, named RIA Public Sector Foundation, is designed for public sector agencies that manage self-assessed taxes, property taxes, regulatory fees, grants, subsidies, and other revenue types. The RIA Public Sector Foundation solution enables public sector tax assessment, billing, revenue management, and collection capabilities. It provides a fresh, modern approach for implementing and maintaining the ever-changing complex rules in the core tax and revenue administration system. The solution helps government authorities achieve compliance, improve citizen service, enhance revenue collection capabilities, and provide increased flexibility to respond to revenue law changes. The solution uses Oracle Revenue Management and Billing product capabilities across crucial business process areas, including registration, accounting, payments, billing, and collections. Essential design principles of the solution Easy upgrade and maintenance: Designed as a true commercial off-the-shelf (COTS) package, the solution is easily upgradable with the configuration in place, eliminating the redundancy that is often associated with public sector platforms. A modern and intuitive user experience: To simplify user adoption and solution deployment. End-to-end business processes: The solution addresses the core tax and revenue administration requirements spanning from taxpayer registration to tax forms submission. These include tax assessment and billing to payment, approvals to refunds, automated penalty and interest with collections processing, and integrated citizen and taxpayer self-service. Sub-ledger accounting: The solution achieves GAAP compliance through double-entry accounting. The solution offers easy integration into financial systems such as Oracle E-Business Suite, PeopleSoft Financials, and Oracle Financials Cloud. Integration-friendly: Built on ORMB’s integration standards and leveraging a micro-services portal architecture, the solution fits seamlessly into any technology eco-system. With the above principles, public sector agencies can deploy in as little as six months, transforming their revenue management capabilities in the shortest timeframe. To learn more about our next-generation public sector revenue management systems, please message me. For more information, please visit: RIA Advisory: Link RIA Advisory Public Sector Foundation: Link Oracle Revenue Management & Billing Solutions: Link Oracle Financial Services: oracle.com/financial-services Subscribe to The Check-In, our financial services newsletter: Keep up with the latest blogs and more: Sign up today Contact us: Request for Information: Link           Follow us: Linkedin: https://www.linkedin.com/showcase/oraclefs/ Facebook: https://www.facebook.com/oraclefs/ Twitter: https://www.twitter.com/oraclefs 

Oracle and RIA Advisory have partnered to bring Oracle Revenue Management and Billing (ORMB) to public sector agencies. The solution, named RIA Public Sector Foundation, is designed for public sector...

Chief Compliance Officers at many midsized banks are under pressure to support ambitious growth plans, meet heightened expectations for customer experience, and assess transaction patterns that have changed due to COVID-19 – all while meeting the same compliance and performance standards as large banks. Oracle explores how Cloud technology could help.

Chief Compliance Officers at many midsized banks are under pressure to support ambitious growth plans, meet heightened expectations for customer experience, and assess transaction patterns that...

As we near the end of LIBOR, which underpins trillions in bank-to-bank borrowing worldwide, banks must transition to other risk-free rates (RFRs). This transition provides fresh opportunities for Corporate Banks. Parag shares his view on four areas in corporate lending ripe for transformation today.

As we near the end of LIBOR, which underpins trillions in bank-to-bank borrowing worldwide, banks must transition to other risk-free rates (RFRs). This transition provides fresh opportunities for...

With the one-year deferral granted by the International Accounting Standards Board (IASB) to January 2023, timelines are still proving to be tight. A typical IFRS 17 or LDTI program, including parallel runs, ranges from 14 to 18 months. With more insurers pushing out project delivery dates, Oracle explores how the program can be accelerated.

With the one-year deferral granted by the International Accounting Standards Board (IASB) to January 2023, timelines are still proving to be tight. A typical IFRS 17 or LDTI program, including...

Many banks have joined the data governance conversation, indicating sentiments in regulatory remarks on BCBS 239 are developing. In this blog, we look at the approach and capabilities a G-SIB (Globally Systemic Important Bank) realized when implementing Oracle’s data governance solution.

Many banks have joined the data governance conversation, indicating sentiments in regulatory remarks on BCBS 239 are developing. In this blog, we look at the approach and capabilities a...

The digital banking revolution is progressing, and a rigid, siloed banking platform hampers innovation. How a bank approaches to build or reinvent themselves is crucial. Oracle shares more.

The digital banking revolution is progressing, and a rigid, siloed banking platform hampers innovation. How a bank approaches to build or reinvent themselves is crucial. Oracle shares more.

Streamlining the end-to-end revenue management and billing process helps banks with pricing optimisation, deal compliance, and improving billing accuracy. In this 5th Blog in a series, Darren shares his views on how cost reductions can be achieved through streamlining operations.

Streamlining the end-to-end revenue management and billing process helps banks with pricing optimisation, deal compliance, and improving billing accuracy. In this 5th Blog in a series, Darren shares...

Chartis Research, an industry-leading research group specializing in the analysis of trends, technology, products, and vendors in the global risk technology market, has ranked Oracle as #3 among 100 vendors offering risk management technology. Find out more.

Chartis Research, an industry-leading research group specializing in the analysis of trends, technology, products, and vendors in the global risk technology market, has ranked Oracle as #3 among...

Considering the ongoing need across the US banking industry, Oracle Financial Services has created exclusive solutions towards financial data warehousing, regulatory reporting, and data governance, providing deep insights and governance for data transformation.

Considering the ongoing need across the US banking industry, Oracle Financial Services has created exclusive solutions towards financial data warehousing, regulatory reporting, and data governance,...

The impact of COVID-19 is being felt across all areas of business, including anti-money laundering. Oracle’s John Edison shares his insights on how financial institutions can maintain AML program effectiveness.

The impact of COVID-19 is being felt across all areas of business, including anti-money laundering. Oracle’s John Edison shares his insights on how financial institutions can maintain AML...

More than anything, today’s youngest banking customers want trustworthy advice and direction from their banks. Oracle’s Digital Banking Report shares the latest.

More than anything, today’s youngest banking customers want trustworthy advice and direction from their banks. Oracle’s Digital Banking Report shares the latest.

Funds Transfer Pricing Best Practices – What’s Working, What’s Not. Find out more from Oracle.

Funds Transfer Pricing Best Practices – What’s Working, What’s Not. Find out more from Oracle.

Prof. Michael Eichhorn from Hochschule Harz discusses managing Liquidity Risk in the current market environment as part of our ALCO blog series. Find out more from Oracle.

Prof. Michael Eichhorn from Hochschule Harz discusses managing Liquidity Risk in the current market environment as part of our ALCO blog series. Find out more from Oracle.

Chartis Research, an industry-leading research group that specializes in analyzing trends, technology, products, and vendors in the global risk technology market, recently named Oracle a category winner in the RiskTech2021® for the Financial Crime – Anti-Money Laundering (AML) solution category.

Chartis Research, an industry-leading research group that specializes in analyzing trends, technology, products, and vendors in the global risk technology market, recently named Oracle a category...

My colleagues Tushar and Swapnil have begun looking at the Myth or Reality of Global Transfer Agency here and I now dive deeper into the choices Global Transfer Agents face when looking at solutions for servicing multi country Mutual Fund clients Chapter 1 – Fantasy Land Once upon a time in a land of joy and wonder an Asset Manager woke up in the morning and glanced at the news knowing that their Investors were happy and content with the service they received.  They did not need to worry about their Transfer Agent partner as they knew that were happy investors across the globe. The Asset Manager was assured of seamless interactions with all Investor types, through whichever channel or medium the Investor choose.  The Asset Manager also knew their clients were looked after irrespective of the region of the world in which they lived. At the same time, on the other side of town, the Transfer Agent woke, well rested from a night of perfect slumber, realising that there had been no alerts overnight.  They knew that the Asset Manager too would be happy as their clients had received the service that they had expected. BANG! Reality bites as both the Transfer Agent and Asset Manager return to reality and the year 2020.  Chapter 2 – Reminiscing the good ol’ days (TA 1.0) However, they both remember the early days of Transfer Agency, a process that had grown from a small and fractured beginning.  A simple requirement to record investors and transactions has evolved into a critical piece of the Financial Services industry. Transfer Agency was formed for the need to always have that book of record for each investment made by an Investor in a Fund.  Funds were initially employed by a small group of institutions and individuals.  Fund Product ranges were comparatively simple with choice limited. As a result, Transfer Agency was seen as part of the Asset Managers competency.  Initially it was seen that the use of basic tools such as Access and/or Excel was sufficient as this could manage the records.  Service to Investors was maintained by the Asset Manager and their colleagues to those that had invested in the found.  Oh how, the landscape looked like back then! Chapter 3 – Regulatory relaxation & Technology growth (TA 2.0) Then, Governments keen to expand people’s savings profile for retirement and to leverage the pools of monies in Funds, loosened saving tax regulations, encouraged investment & opened the doors to a new wave of Investors.  Suddenly, investing in Funds became ‘normal’ and the cottage industry of Transfer Agency had to grow up fast and a new range of products evolved to meet the wide spectrum of Investors As well, regulators redefined the framework of how funds could operate from which it was then possible to create a wider array of Fund Products distributed globally.  The success of the UCITS brand that launched went far beyond the expectations of all in the Industry. At the same time Technology made strident leaps forward, particularly with the birth of the Internet.  Data creation (& its capture) and public consumption of information entered a new age.  The Asset Manager now needed to focus more on Fund Product & Distribution Models, and, as a result, they looked for a partner who had the technology & scale to provide the Transfer Agency service. At the same time Service Providers recognised they could bring Value to the Asset Manager as they had the scale, knowledge and technology to support Transfer Agency.  The Asset Manager could focus on the Front Office whilst the Service Provider cared for the Back Office of the Fund. Chapter 4 – Spaghetti (TA 2.0) As technology continued to evolve both the Transfer Agent and Asset Manager knew they had to keep their systems modern, scalable & robust and secure.  Asset Managers and Transfer Agents alike moved into new Product lines and new markets. This, though, led to a divergence as Asset Managers required tailored solutions to cater for their unique proposition in each market whereas Transfer Agents played catch up to find solutions that could continue to deliver to the Asset Managers ask. Over time Transfer Agents found that they had a myriad of systems to answer each market and product ask of the Asset Manager.  Systems too had not evolved easily with legacy platforms requiring tactical approaches to address demands from Asset Managers & Regulators. The tactical approaches became embedded and so running the business, making change and delivering quality requires significant investments for little or no return.  Then, after years of under investment, the nest of platforms has become so nested and entwined that no one is certain how to simplify the ecosystem and get it future ready. Data and digital engagement will drive the successful Asset Manager, and by extension the successful Transfer Agent.  Those Transfer Agents that can offer a rationalised, single solution approach for their clients will reap the benefits of their early adopter process. Other Transfer Agents may find solace in either their legacy but functioning platform (focusing on a single market) or in their tangled web of platforms that provide a pseudo pan regional solution, but their client will not.  Masking the problem with even more tactical solutions will eventually lead to a collapse of the house of cards. Chapter 5 – Investors to change the TA paradigm (TA 3.0) Addressing the need for Digital requires an honest appraisal of where the Transfer Agent and Asset Manager want their partnership to go.  The evolution of the Transfer Agency model has meant that they now act as the Asset Manager’s point of contact with Investors, and not the Asset Manager. However, Asset Managers are seeing that Investors are now more discerning and are keen to tap into a wider range of Products (eg Active; ETF; ESG etc) which are offered within the same Management firm.  Therefore, the Asset Manager wants to simplify the relationship and minimise painful and potentially redundant processes (KYC, Relationship Anchors), whilst also ensuring that Private Data (eg PII) is well protected. As Investors have a more global outlook, they will expect the same service from the Asset Manager irrespective of the region of the globe they are in.  Currently, this places huge demands on legacy TA systems & processes to present themselves as Digitally ready and available. But do not feel the pressure of legacy, the utopian opening that we started with is actually not that far from reality.  Digital Investor demands are growing, and as the demographics move to the nomadic digital native (& beyond) Asset Managers need to speak to their future market.  Chapter 6 – Can Fantasy become a Digital reality? (TA 3.0) Digital will continue to disrupt the industry however it seems that Asset Managers still find it hard and costly to fulfil the Transfer Agency process.  Therefore, Asset Managers are keen to get it done through their TA partners in the most cost-effective way. But how, when Transfer Agents have a myriad of platforms that make up a ‘solution’.  The answer is might seem too obvious to be true, but it is; and that is to work with Transfer Agents that have a single solution approach (1 system, 1 instance, common IT/Operating model, 1 experience to Investor/Asset Manager partners of TA). This can happen where solution simplification is considered and undertaken by the brave Transfer Agent. Taking an honest assessment of the current ecosystem with its multitude of platforms can force the Transfer Agent to course correct and work with technology partners that can provide them with a true solution to address their needs across the globe.  Modern Transfer Agency solutions, such as Oracle FLEXCUBE Investor Servicing, will have the capability to support out of the box Digital channels with open APIs; Blockchain connectivity options and data points to help with Machine Learning.  With a robust solution it helps to ensure that the above is delivered in alignment to Regulatory compliance (GDPR, PIPA et al) and more importantly deliver to the emerging True Global TA Service Expectations. Chapter 7 – Renewal (TA 2.0 or TA 3.0) And so, in 2020 we have seen, with the Covid 19 pandemic, a step change in how the world operates.  The changes that occurred were unforeseen, quick and profound.  This has driven a new assessment of what best-of-breed means and looks like. How then to move forward in this brave new Digital world for Funds?  Are Transfer Agents supporting Asset Managers on their Digital revolution? Can TA’s provide a truly scalable Global solution that is market agnostic, digitally enabled and on the Cloud? Both Transfer Agents (with their overly complex eco systems) and Asset Managers (with the urgent need to be Digitally native) are recognising that a true Global system is required.  However, renewing existing platforms may seem to offer instant benefit but longer term returns are not certain and existing perceived benefits lost. Oracle FLEXCUBE Investor Servicing can help to make the digital change that can be Cash flow neutral, enable pointed cost reduction and provide uplift in value with its unique support of true Global Transfer Agency and offering choice of on-premise deployments or on the Cloud. Therefore, ask yourself – do I stay in TA2.0 with my Spaghetti nests and constant renewals of my patchwork solutions or do I move to TA3.0 based on an Open Architecture, API enabled & Cloud based solution that caters for local, regional and Global Transfer Agency and Fund Distribution? Smart Transfer Agents and Asset Managers have started the move, can you afford to be left behind? For more information, please visit: Investor Servicing oracle.com/financial-services Subscribe to our Blogs: Oracle Financial Services Blogs: Sign up today Contact us: Email: financialservices_ww@oracle.com Follow us: Linkedin: https://www.linkedin.com/showcase/oraclefs/ Facebook: https://www.facebook.com/OracleFS/ Twitter: https://www.twitter.com/oraclefs

My colleagues Tushar and Swapnil have begun looking at the Myth or Reality of Global Transfer Agency here and I now dive deeper into the choices Global Transfer Agents face when looking at solutions...

The fight against financial crime has always been a team effort with fresh momentum increasing for information sharing among financial institutions. Homomorphic encryption has emerged as a critical innovation. Oracle's John Edison discusses the technology with industry expert Alon Kaufman.

The fight against financial crime has always been a team effort with fresh momentum increasing for information sharing among financial institutions. Homomorphic encryption has emerged as a critical...

Today’s modern age has seen an explosion of financial data availability, both in volume and granularity. Kyung Choi provides three reasons why an effective enterprise data quality strategy is vital for financial institutions.

Today’s modern age has seen an explosion of financial data availability, both in volume and granularity. Kyung Choi provides three reasons why an effective enterprise data quality strategy is vital...

Financial institutions are striving to boost efficiency across anti-money laundering programs by automating processes. However, they are constrained by ineffective risk scoring. Oracle advocates a multi-dimensional risk scoring approach, and John Edison shares more as he discusses this view with financial crime specialists.

Financial institutions are striving to boost efficiency across anti-money laundering programs by automating processes. However, they are constrained by ineffective risk scoring. Oracle advocates a...

For healthcare payors participating in exchanges, reconciling amounts they have billed to the Centers for Medicare and Medicaid Services (CMS) for covered consumers against payment subsidies received has presented two significant issues: data mismatches and timing of enrollments vs. payments. Most payors deal with this through a mixture of solutions; a full solution does not exist so far.

For healthcare payors participating in exchanges, reconciling amounts they have billed to the Centers for Medicare and Medicaid Services (CMS) for covered consumers against payment subsidies received...

As part of our continuing “Decoding the Buzz Series,” Oracle’s Sam Shaqareq speak to both Oracle and SWIFT experts to cut through the buzz around ISO20022 and talk about how banks can begin to drive value today from this migration and set the stage for a seamless transition.

As part of our continuing “Decoding the Buzz Series,” Oracle’s Sam Shaqareq speak to both Oracle and SWIFT experts to cut through the buzz around ISO20022 and talk about how banks can begin to...

In recent years, the Insurance industry has been finding new ways to simplify. Complex products are prone to low discoverability by distribution channels, higher customer fatigue chances in the fulfillment process, and resiliency to tailoring and compliance. Increased reliance on digital distribution is also forcing carriers to simplify their offerings and adjust to risk-based atomic selling compared to ‘catch all-risks’ products. Oracle’s Subhajit shares more.

In recent years, the Insurance industry has been finding new ways to simplify. Complex products are prone to low discoverability by distribution channels, higher customer fatigue chances in...

The European Union (EU) has launched a new Financial and Economic Crime Centre within Europol to tackle an expected surge in financial crime in the economic downturn triggered by the pandemic. This brings new challenges to financial institutions and their fraud detection/anti-money laundering programs. Oracle’s Michael Ficarro shares how financial institutions can succeed when resources are strained across their business.

The European Union (EU) has launched a new Financial and Economic Crime Centre within Europol to tackle an expected surge in financial crime in the economic downturn triggered by the pandemic. This...

Chartis Research recently named Oracle a Category Leader in its 2020 RiskTech Quadrant® for AML solutions and its 2020 RiskTech Quadrant® for KYC solutions. Oracle’s Jane Zimmerman shares her thoughts.

Chartis Research recently named Oracle a Category Leader in its 2020 RiskTech Quadrant® for AML solutions and its 2020 RiskTech Quadrant® for KYC solutions. Oracle’s Jane Zimmerman shares...

Oracle's Garima shares her views on how new anti-money laundering regulations demand significant compliance changes and how Banks can meet this requirement by realizing the central role of technology.

Oracle's Garima shares her views on how new anti-money laundering regulations demand significant compliance changes and how Banks can meet this requirement by realizing the central role of technology.

Oracle has launched the Financial Crime and Compliance Management Cloud Service, a suite of cloud-based anti-money laundering applications for midsized financial institutions. John Edison shares more.

Oracle has launched the Financial Crime and Compliance Management Cloud Service, a suite of cloud-based anti-money laundering applications for midsized financial institutions. John Edison shares more.

Aging policy administration systems managing legacy blocks of closed business create an exponentially increasing drag on insurers' business processes—and hurting their ability to compete in an expanding global industry being revolutionized by digital transformation. Roger Soppe from Equisoft, Oracle's partner, shares his thoughts.

Aging policy administration systems managing legacy blocks of closed business create an exponentially increasing drag on insurers' business processes—and hurting their ability to compete in an...

Financial institutions are faced with steep communication challengers in today’s business environment. Firms are mired in communication complexity with new offers, delivering monthly statements, or serving up time-sensitive, event-driven information. Oracle’s Bryan Burr looks at five ways the Cloud can help firms transform and elevate their customer communication programs.

Financial institutions are faced with steep communication challengers in today’s business environment. Firms are mired in communication complexity with new offers, delivering monthly statements, or...

The servitization trend capitalizes on consumers’ growing comfort with subscription or as-a-service offerings, from movies to food prep to collaboration platforms at work. With servitization, manufacturers can deliver the high-quality, personalized experience that customers want, with a complete service offering. Jeffrey Perham shares his thoughts on how companies can capitalize on the servitization trend.

The servitization trend capitalizes on consumers’ growing comfort with subscription or as-a-service offerings, from movies to food prep to collaboration platforms at work. With...

Everyone understands the pressures of working in a highly regulated market. Considering COVID pressures and a probable global recession, there needs to be an increased focus on cost-cutting. For banks looking to assist their clients through this phase of turbulence, could Earnings Credit Rates (ECR) help? Oracle’s Kiran Rajendran shares more.

Everyone understands the pressures of working in a highly regulated market. Considering COVID pressures and a probable global recession, there needs to be an increased focus on cost-cutting. For banks...

After the Global Financial Crisis Banks had to think about large scale restructuring to shore up balance sheets. Current business environment adds further complexities as Bankers aim at boosting revenue while reducing costs. In this 4th Blog in a series, Oracle’s Darren shares his views on how technology can remediate revenue leakage with the right adoption of technology. Find out more.

After the Global Financial Crisis Banks had to think about large scale restructuring to shore up balance sheets. Current business environment adds further complexities as Bankers aim at...

Banks need to start incorporating digitization and automation practices in their trade finance offerings and operations to better serve their corporate clients in today’s connected real-time world.

Banks need to start incorporating digitization and automation practices in their trade finance offerings and operations to better serve their corporate clients in today’s connected real-time world.

The future of LIBOR is not guaranteed beyond 2021. Are you ready to start transitioning away from LIBOR to new alternative risk-free rates (RFRs)? Regulators have not come up with a checklist of actions banks must take, nor prescribed specific measures or technologies that banks must have in place. It is up to banks to decide how they want to move forward.

The future of LIBOR is not guaranteed beyond 2021. Are you ready to start transitioning away from LIBOR to new alternative risk-free rates (RFRs)? Regulators have not come up with a checklist...

Balance Sheet Planning: Measuring and Funding Challenged Assets. Find out more from Oracle.

Balance Sheet Planning: Measuring and Funding Challenged Assets. Find out more from Oracle.

The onset of the market-wide stress event that is national governments’ policy response to the coronavirus epidemic has thrown stress testing procedures, and capabilities, sharply into focus. Unlike in 2008, this time, banks are not part of the problem. Find out how banks are implementing stress testing.

The onset of the market-wide stress event that is national governments’ policy response to the coronavirus epidemic has thrown stress testing procedures, and capabilities, sharply into focus. Unlike...

Oracle’s Michael Ficarro discusses how anti-money laundering programs in the Netherlands are evolving, and how Oracle is bolstering the fight by providing banks with superior AML technology.

Oracle’s Michael Ficarro discusses how anti-money laundering programs in the Netherlands are evolving, and how Oracle is bolstering the fight by providing banks with superior AML technology.

Flexible financing moves more products, increases transaction size, and creates new revenue streams to keep your business growing. These programs are among the most effective competitive weapons available to manufacturers today. Oracle’s Paul Mattiacci shares his views.

Flexible financing moves more products, increases transaction size, and creates new revenue streams to keep your business growing. These programs are among the most effective competitive...

What is Blockchain technology and can it be applied to Corporate Banking? Oracle’s Uday breaks down technology in this blog and explores how it could be utilized in a bank setting.

What is Blockchain technology and can it be applied to Corporate Banking? Oracle’s Uday breaks down technology in this blog and explores how it could be utilized in a bank setting.

After the Global Financial Crisis Banks had to think about large scale restructuring to shore up balance sheets. Current business environment adds further complexities as Bankers aim at boosting revenue while reducing costs. In this 3rd Blog in a series, Oracle’s Darren shares his views on how dynamic pricing and product catalogues boosts revenue with the right adoption of technology. Find out more.

After the Global Financial Crisis Banks had to think about large scale restructuring to shore up balance sheets. Current business environment adds further complexities as Bankers aim at...

Asset managers are increasingly looking for a connected, global transfer agency model that allows them to seamlessly manage funds from multiple domiciles in both developed and emerging markets at the same time. The benefits of such a model are path breaking but ground level complexities can put off even serious proponents. How do we break the myth of a global transfer agency and make it today’s reality.

Asset managers are increasingly looking for a connected, global transfer agency model that allows them to seamlessly manage funds from multiple domiciles in both developed and emerging markets at the...

What’s new in the Human-Machine Partnership is that machines are assuming cognitive skills and helping in improving customer engagement, employee competency, communication and collaboration. This paradigm change in the partnership promises to alter the realm of Banking.

What’s new in the Human-Machine Partnership is that machines are assuming cognitive skills and helping in improving customer engagement, employee competency, communication and collaboration. This...

Drug trafficking is a global problem—and despite decades of research, regulations, and enforcement, it remains a $400 billion global business. While financial institutions have invested heavily in innovative technology, they continue to miss a significant portion of drug trafficking activities. Oracle’s Garima Chaudhary shares her views on how advanced analytics can help.

Drug trafficking is a global problem—and despite decades of research, regulations, and enforcement, it remains a $400 billion global business. While financial institutions have invested heavily in...

After the Global Financial Crisis Banks had to think about large scale restructuring to shore up balance sheets. Current business environment adds further complexities as Bankers aim at boosting revenue while reducing costs. In this 2nd Blog in a series, Oracle’s Darren shares his views on how end-to-end Revenue Management boosts revenue with the right adoption of technology. Find out more.

After the Global Financial Crisis Banks had to think about large scale restructuring to shore up balance sheets. Current business environment adds further complexities as Bankers aim at...

Banking transformation presents exciting opportunities and serious challenges. With digital innovation, banks can offer new services, reduce time-to-market, and meet open banking requirements and new compliance mandates. Oracle’s Banking Innovators is a resource where you can understand how different banks approach innovation globally. Find out more.

Banking transformation presents exciting opportunities and serious challenges. With digital innovation, banks can offer new services, reduce time-to-market, and meet open banking requirements and...

After the global financial crisis, banks had to think about large scale restructuring to shore up balance sheets. Current business environment adds further complexities as bankers aim at boosting revenue while reducing costs. Oracle’s Darren Cherry shares his views on possible strategies to boost revenue with the right adoption of technology. Find out more.

After the global financial crisis, banks had to think about large scale restructuring to shore up balance sheets. Current business environment adds further complexities as bankers aim at...

Use of Chatbots in Banking is on the rise, yet the chatbots have low success rate with customer gratification scores. Understand why banks need to bring in a strong API backbone first and then capture customer intent to build them out into chat bots and make them more efficient.

Use of Chatbots in Banking is on the rise, yet the chatbots have low success rate with customer gratification scores. Understand why banks need to bring in a strong API backbone first and then...

The banking industry's technology spend is forecast to reach an estimated $735.8 billion by 2023. Quite a significant portion of the IT spent is on business processes. What are the critical aspects of businesses that banks should consider? Oracle’s Ranjini shares more.

The banking industry's technology spend is forecast to reach an estimated $735.8 billion by 2023. Quite a significant portion of the IT spent is on business processes. What are the critical aspects of...

Many insurers today operate on rigid legacy systems that inhibit innovation efforts and lead to the continuation of slow manual workflows. In order to facilitate insurance modernization, Oracle and Equisoft have joined forces to bring their best of breed technology for insurers. Oracle’s Matthew shares more.

Many insurers today operate on rigid legacy systems that inhibit innovation efforts and lead to the continuation of slow manual workflows. In order to facilitate insurance modernization, Oracle and...

The current business climate has brought on uncertainties on CECL and IFRS implementation. How can Finance executives minimize the impact of these external pressures? Find out more from Oracle.

The current business climate has brought on uncertainties on CECL and IFRS implementation. How can Finance executives minimize the impact of these external pressures? Find out more from Oracle.

In the United States alone, the cost of anti-money laundering (AML) compliance is estimated at $23.5 billion per year and growing. To counter cost pressure,–as well as growing pressures from regulators and customers–many banks have already begun their journey to creating next-generation anti-financial crime programs in the hopes of boosting effectiveness and efficiency. Oracle’s Garima shares her thoughts.

In the United States alone, the cost of anti-money laundering (AML) compliance is estimated at $23.5 billion per year and growing. To counter cost pressure,–as well as growing pressures from...

Innovation is a potential game changer for Banks. How are some banks innovating? Oracle’s Niraj shares more.

Innovation is a potential game changer for Banks. How are some banks innovating? Oracle’s Niraj shares more.

Healthcare is a very personal and expensive proposition, and our “user experience” is often not on par with other services we consume in our daily lives. With rising user expectations, how can healthcare insurers keep pace with these changing requirements? Oracle’s Glenn shares his views.

Healthcare is a very personal and expensive proposition, and our “user experience” is often not on par with other services we consume in our daily lives. With rising user expectations, how...

The rising Gig Economy offers new opportunities for the traditional banks. Oracle’s Aubrey Hawes on how traditional banks can tap onto the growing Gig Economy for possible revenue.

The rising Gig Economy offers new opportunities for the traditional banks. Oracle’s Aubrey Hawes on how traditional banks can tap onto the growing Gig Economy for possible revenue.

Corporate banking clients’ satisfaction has dropped while globally individuals are becoming reliant on digital services. What does this mean for Corporate bankers? Oracle’s Conor Colleary shares more.

Corporate banking clients’ satisfaction has dropped while globally individuals are becoming reliant on digital services. What does this mean for Corporate bankers? Oracle’s Conor Colleary shares more.

Oracle Insurance Policy Administration For Life & Annuity Now Validated On OCI Gen 2

Oracle Insurance Policy Administration For Life & Annuity Now Validated On OCI Gen 2

Anti-money laundering (AML) enforcement is critical as the European Commission announced its latest list of countries that pose risks due to shortfalls in anti-money laundering initiatives. How can African Banks strengthen their Anti-Money Laundering programs? Oracle’s Ganesh R shares more.

Anti-money laundering (AML) enforcement is critical as the European Commission announced its latest list of countries that pose risks due to shortfalls in anti-money laundering initiatives. How...

Fiscal fitness in the private health insurance industry requires an increasingly precarious balancing act. Oracle’s David Sim shares his view on how this can be accomplished.

Fiscal fitness in the private health insurance industry requires an increasingly precarious balancing act. Oracle’s David Sim shares his view on how this can be accomplished.

Over the last decade, many financial institutions have made moves to become better capitalized and positioned to face business risks. However, current events make even these protections inadequate. Oracle’s Sabrina shares her views on how banks can be more crisis resilient in such times.

Over the last decade, many financial institutions have made moves to become better capitalized and positioned to face business risks. However, current events make even these protections...

COVID-19 and the economic slowdown as a result of it that places banks’ balance sheet under stress, but with a proactive approach to risk and finance, banks can build resilience and strength as they navigate through this. Oracle’s Nishit shares his views.

COVID-19 and the economic slowdown as a result of it that places banks’ balance sheet under stress, but with a proactive approach to risk and finance, banks can build resilience and strength as...

Today’s uncertain business climates places a renewed focus on cost-effectiveness for banks. Oracle’s Kapil Kapur shares his thoughts on how banks can be more cost effective by focusing on a central operation.

Today’s uncertain business climates places a renewed focus on cost-effectiveness for banks. Oracle’s Kapil Kapur shares his thoughts on how banks can be more cost effective by focusing on a central...

Chief Compliance Officers (CCOs) at banks and other financial institutions are under extreme pressure to get their anti-money laundering (AML) programs right. Oracle’s John & Garima shares how modernization can be part of long-term success. Read more.

Chief Compliance Officers (CCOs) at banks and other financial institutions are under extreme pressure to get their anti-money laundering (AML) programs right. Oracle’s John & Garima shares how...

The banking industry demonstrates its resilience time and time again, and a strong commitment to innovation is an integral part of this equation for leading institutions across the globe. Oracle’s Jeffrey Edison shares how can banks embrace innovation strategically in a space crowded with the latest buzzwords.

The banking industry demonstrates its resilience time and time again, and a strong commitment to innovation is an integral part of this equation for leading institutions across the globe....

We hear much of the latest and greatest technologies within the Financial Services industry and even Transfer Agency is not immune to these fashion, fads & changes (see Is Blockchain a disruptor or enabler for Transfer Agency?).  Each coming new technology offers the opportunity for Transfer Agency and Fund Distributors to address servicing dilemmas for Investors and Asset Managers. Despite recent bouts of doom and gloom around the existence of Transfer Agency, we see that firms are thriving and continuing to innovate their services.  We can safely put to bed the introspection and existential concerns that had bubbled in various threads on Transfer Agency within Europe and beyond. Indeed, looking at the Transfer Agency market, there are opportunities for those providing TA services to grow their offerings and, further, become an important value-add component of the Asset Manager.  This opportunity still exists even in the unprecedented climate as a result of the existing restrictions across the globe. Within the industry, we know that Asset Managers will partner with those Transfer Agents that help them support the Investor on their investment journey.  The ‘smart’ Asset Manager will therefore want to find the TA that offers an excellent, dependable service (including digital), which is consistent across all markets and Investor segments. Transfer Agents, in return, will gladly partner the ‘smart’ Asset Manager and will reap the benefits from a having a strong underlying technology partner who recognises that the Transfer Agent brings unique skills in servicing the Investor journey.  The skills and knowledge of Transfer Agents, when wedded with best-of-breed technology, can lift the Transfer Agent & Asset Manager together to new levels of service and market reach. There is no doubt that Transfer Agency is ripe for disruption given the plethora of legacy systems and cumbersome processes that are involved.  Many firms (as Providers and FinTechs) have focused on reducing the friction involved in some of the processes by looking at utilising technology in these complex processes. Here we see the likes of Market Infrastructure providers smoothen the processing of Deal Instructions; FinTechs address specific processes with limited added-value (for example Reconciliations).  The more complex areas, such as KYC, have long been a holy grail and multiple start-ups are using technologies such as Blockchain to make the process as painless as possible. These additions to the Transfer Agent will help improve elements of the journey, however, they also add challenges.  Transfer Agent’s technical environment will expand with these additional applications and integrations.  Applying this to an already creaking, legacy environment is suboptimal but is done for the sake of expediency. With the multitude of tactical solutions, Transfer Agents do their best to keep the lights on but there are constant Cost & Servicing pressures, not to mention ongoing local & regional Regulatory requirements.  But doing the best is now further challenged in the current climate and will need addressing in the new normal world. Consolidation of platforms into a single system enabled will no longer be a nice to have, but a must have for Transfer Agents to both survive and bring value.  In addition, Transfer Agents will need to effectively leverage the Cloud to maximise their savings opportunities as Revenue and Margins will be impacted for the foreseeable future. Further, with the increasing focus by Regulators to meet the needs of the next generation of investors who are digitally native and Global Citizens and protect PII, Transfer Agents will need to have a simpler environment to address this with Technology rather than current High Risk Operational processes that exist today. Not only are the future Investor wanting a nimbler, mobile driven service, they are also much more likely to be mobile in their career.  Adaptive Asset Managers have recognised this, as they now seek to have a seamless service for their Investor irrespective of the Investor’s or Fund’s Domicile.  Asset Mangers are now truly looking for the Global experience. Do Transfer Agents need to struggle by managing multiple platforms to cater for the Asset Managers they service?  Asset Managers demands are varied as they look to an ever more complex Investor base, but, at the core, its key is the delivery of services & experiences.  Over time, Transfer Agents have required certain platforms for certain markets and/or regions resulting in an overly complex environment where multiple systems overlap as they service specific countries/markets and products.  It is not uncommon to hear of even mid-range Transfer Agents having 5, 6 or even 7 systems for their Long Only Fund clients, and these systems only cover parts of the European markets.  To look at a Global offering requires bold decision making as it will require an honest of review of legacy systems and processes. As a leading provider of Transfer Agency Core platform software, Oracle has seen how Global Asset Managers are now looking for this truly Global offering.  As a result, Oracle is continuing to evolve its TA platform, FLEXCUBE Investor Servicing, to help those Asset Managers and Transfer Agents offer this Global service to Investors.  This evolution is also a step change, as it takes Transfer Agency into a place where it can be the foundation for the Investor irrespective of either the Investor’s or Asset Manager’s location. It is possible for companies to invest heavily in reporting layers to mask their underlying systems and provide a pseudo-standard package.  This has benefits of projecting a standard service to the outside world, but yet this author feels the investments may not be fully realised as the fundamental issue of platform complexity is not addressed. Digital layers and interfaces are vital to support Asset Managers, but with a myriad of systems underneath there is no certainty that this solution is scalable and can easily support the requirements of a truly Global offering.  It reminds us of the swan that appears serene on the surface but is expending massive energy underneath to move along at a slow but steady pace. There are, however, Transfer Agents that have accepted the challenge from Asset Managers to provide a seamless, consistent service for the Investor irrespective of location.  To do this, these Transfer Agents have recognised that they cannot effectively support this by having multiple systems within their ecosystem.  These TA’s have moved the dial by collapsing their Long Only Fund systems globally onto one system, with the exception of the US market. To do this, the core TA system needs to have the necessary broad & deep functions to service multiple jurisdictions, be scalable to handle Retail and Institutional clients and provide the vital consistent data entry & model for service excellence.  With Oracle FLEXCUBE Investor Servicing it is possible to attain this new target Global Operating Model. The question now for Transfer Agents is how do I support the Global Asset Manager efficiently and effectively?  Is it better to build a layer to mask the myriad of systems or is it better to have a scalable solution based on a core engine that can truly service the Local, Regional & Global Investor? Working with Transfer Agents & Fund Distributors Oracle can help identify the Value opportunities within the Organisation to streamline as well looking outward to their partners.  Oracle can help run quick and effective assessments to test various Value Hypotheses.  This Blog has been published on Funds Europe in the FundTech Spring eZine here: https://www.funds-europe.com/fundtech-spring-2020/sponsored-feature-going-global To learn more, feel free to message me to explore more, or have a conversation. For more information, please visit: Investor Servicing oracle.com/financial-services Subscribe to our Blogs: Oracle Financial Services Blogs: Sign up today Contact us: Email: financialservices_ww@oracle.com Follow us: Linkedin: https://www.linkedin.com/showcase/oraclefs/ Facebook: https://www.facebook.com/OracleFS/ Twitter: https://www.twitter.com/oraclefs  

We hear much of the latest and greatest technologies within the Financial Services industry and even Transfer Agency is not immune to these fashion, fads & changes (see Is Blockchain a disruptor or...

Jeffrey highlights the wide array of opportunities with VAM and where banks and their corporate customers are heading.   Ask a roomful of corporate bankers “What is Virtual Account Management (VAM)?” and you’re likely to get a variety of responses. And that is a good thing. VAM has the potential - with the right technology foundation - to be infinitely flexible with new business use cases imagined daily. It can deliver tremendous value to both corporates and their banking partners. Corporates stand to reduce cost and complexity and introduce new levels of automation through alignment of their banking accounts with their internal accounting systems. Banks, in turn, can strengthen vital relationships by elevating their service to address their corporate customers’ growing pains while reducing their own operational costs. VAM is transforming treasury – and the journey is just beginning. What good are virtual accounts? Banks have offered "virtual account" solutions for many years, but most of these offerings were for specific purposes and targeted customer segments. Oracle has adopted a more holistic approach with VAM to encompass numerous business propositions and use case scenarios. For Oracle, VAM is about the challenges faced by both corporates and banks for cash management efficiency. It goes well beyond the perceived standard of virtual IBANs or virtual reference numbers and offers more than just efficient receivables management. VAM encompasses payables and receivables including On Behalf Of capabilities, corporate In-House Banking, real-time liquidity and management of client funds. For whom are virtual accounts useful? Historically VAM has been a solution for large corporates who have complex structures of physical bank accounts spread across the globe. With growing globalization, organizations that can benefit from VAM are now defined not by their size but by complexity and business breadth. This might include an organization dealing with payments and collections in various currencies or managing funds for new-economy platforms for gig workers and service providers. VAM propositions Currently, many banks address a limited set of VAM business propositions. Meanwhile customers’ challenges are mounting with banks struggling to keep up with an ever-increasing gap. One bank that we are working with has been supporting client money management for many years. It has outgrown the capabilities of its legacy solution and is using the renewal opportunity to expand its services to address multiple virtual account propositions. Another bank is looking at offering services across the geographic region and currencies in which they operate, beyond the local, single-currency cash pooling services that they currently provide. Others are looking to use VAM capabilities to support digital wallets, e-commerce, and the gig economy. Nearly every discussion gives rise to new business propositions that can be addressed through VAM Solutions. The evolution of VAM Banks have started to realize that the traditional VAM techniques of virtual IBANs and virtual reference numbers only address a small portion of corporate challenges with its support of receivables management. The second generation of VAM solutions typically addressed additional business propositions for payables and receivables management, in-house banking, and client money management with self-service capabilities. Beyond this, Oracle Banking’s next-generation VAM solution allows the combination of traditional liquidity management techniques with virtual accounts. This allows corporates to build off physical sweeping (including relationships across multiple banks) with real-time cash concentration (via virtual accounts) into hybrid physical and virtual structures. The next step in the evolution is predictive cash flow forecasting based on accounts receivable and accounts payable, using artificial intelligence and machine learning. Bank’s challenges with VAM One of the greatest hurdles is to carefully identify the precise customer segment challenges and what is needed to deliver real value to the corporate customer - rather than simply introducing a new solution. Our approach is a phased, minimum viable product (MVP) so that customers can see tangible benefits with rapid time-to-market. Another challenge is adapting the mindset of banks toward a more client-focused, self-service approach. As with any financial services project, the integration of a new solution is always a challenge. VAM interacts with many areas of the bank, therefore, it requires many touchpoints with the bank’s systems. Finally, some banks struggle to identify the business case related to developing a VAM offering. It’s not easy for some banks to quantify the benefits for them and their corporate customers around specific VAM applications. Building a proper value proposition for your VAM offering is one key to success. Traditionally, banks have offered cash management solutions for corporates to optimize their working capital and liquidity needs; these offerings used conventional cash pooling techniques. However, many banks have moved away from notional pooling due to regulations and the rising costs of this business. At the same time corporates are looking for greater insight and control, as well as lower costs through alternative solutions. Virtual accounts fit perfectly with these drivers, providing banks and corporates with greater operational efficiency. Corporates require real-time clarity of their working capital and the self-service control for efficiency and speed. Oracle’s unique advantage First, Oracle Banking Virtual Account Management supports multiple business cases in a single platform, including client self-service components. By doing so, it offers enormous flexibility to address the requirements of both the bank and its corporate customers. Oracle’s modern, componentized solution allows banks to choose the components that address their precise needs with both tactical options for faster time-to-market and strategic options for the longer term. For corporates, the solution’s flexibility allows banks to easily provide targeted business propositions and meet evolving corporate needs through configuration rather than additional development. In addition, Oracle applies powerful artificial intelligence and machine learning capabilities for business insights and predictive cash flow forecasting. All Oracle Banking solutions are built on a modern architecture and are designed for easy integration into a bank’s environment. This eases one of the main hurdles that we have identified when banks are developing VAM offerings. In addition, Oracle’s VAM solution is system agnostic; it can integrate with any core banking and payment systems that are used at the bank. Oracle provides banks with an agile, future-proof solution that meets performance and time-to-value, while strengthening their corporate offering through increased flexibility. Building a proper value proposition for your VAM offering is one key to success.   To learn more, feel free to message me to explore more, or have a conversation. Related content: Trends Shaping Corporate Banks: Connected Commerce, Digitalization & AI Mind The Gap: Stepping Up From Liquidity Management To Being A Treasury Partner Treasury 4.0: The win-win approach to working capital management   For more information, please visit: Oracle Banking Virtual Account Management: oracle.com/vam Oracle Financial Services: oracle.com/financial-services Subscribe to our Blogs: Oracle Financial Services Blogs: Sign up today Contact us: Email: financialservices_ww@oracle.com Follow us: Linkedin: https://www.linkedin.com/showcase/oraclefs/ Facebook: https://www.facebook.com/OracleFS/ Twitter: https://www.twitter.com/oraclefs

Jeffrey highlights the wide array of opportunities with VAM and where banks and their corporate customers are heading.   Ask a roomful of corporate bankers “What is Virtual Account Management (VAM)?”...

Current market dynamics are testing the agility of financial institutions. Cloud technology can be a key in business environments which requires secure, dynamic, and scalable IT infrastructure. Oracle’s Prince shares his thoughts.

Current market dynamics are testing the agility of financial institutions. Cloud technology can be a key in business environments which requires secure, dynamic, and scalable IT infrastructure....

Container based application deployments make efficient use of resources, increases consistency within and between environments, and are highly portable between different infrastructure and cloud platforms. In this article we explore how Oracle technology can be deployed to Docker containers and orchestrated by Kubernetes with a specific focus on containerizing banking workloads.

Container based application deployments make efficient use of resources, increases consistency within and between environments, and are highly portable between different infrastructure and...

With advancements in technology and barriers to entry falling rapidly, the exchange business is a very dynamic game these days. Oracle’s Rahul shares his views on how stock exchanges can be one step ahead in the midst of uncertainty.

With advancements in technology and barriers to entry falling rapidly, the exchange business is a very dynamic game these days. Oracle’s Rahul shares his views on how stock exchanges can be one step...

The impact of COVID-19 is being felt across all areas of business, including anti-money laundering. Oracle’s John Edison shares his insights on how financial institutions can maintain AML program effectiveness

The impact of COVID-19 is being felt across all areas of business, including anti-money laundering. Oracle’s John Edison shares his insights on how financial institutions can maintain AML...

In our current environment, corporates can and must take decisive actions to mitigate short and longer risk. Oracle’s Parag shares his thoughts on how corporates and banks can do so.

In our current environment, corporates can and must take decisive actions to mitigate short and longer risk. Oracle’s Parag shares his thoughts on how corporates and banks can do so.

Every year, the illegal wildlife trade threatens many animal species with extinction. Oracle’s Garima Chaudhary shares her insights on how financial institutions can take a stand against illegal money laundering through such trading.

Every year, the illegal wildlife trade threatens many animal species with extinction. Oracle’s Garima Chaudhary shares her insights on how financial institutions can take a stand against illegal money...

Health insurance innovation can be a daunting endeavour. Oracle shares some real-world examples of success from our customer journeys.

Health insurance innovation can be a daunting endeavour. Oracle shares some real-world examples of success from our customer journeys.

Curious how Blockchain is used for Global Payments? Find out more about this innovation and how Oracle is using Blockchain to helps banks.

Curious how Blockchain is used for Global Payments? Find out more about this innovation and how Oracle is using Blockchain to helps banks.

The world of fine art is sometimes a place for money laundering. Oracle’s Don Ryu shares insights on what can be done on this front.

The world of fine art is sometimes a place for money laundering. Oracle’s Don Ryu shares insights on what can be done on this front.

Uncertain business climates calls for us to review revenue management for cost savings. Oracle’s Akshaya shares his views on how financial institutions can do so.

Uncertain business climates calls for us to review revenue management for cost savings. Oracle’s Akshaya shares his views on how financial institutions can do so.

Cross-border payments is set to transform as SWIFT gpi’s Universal Confirmations becomes mandatory in November 2020. Hear from Oracle on how to be ready for it.

Cross-border payments is set to transform as SWIFT gpi’s Universal Confirmations becomes mandatory in November 2020. Hear from Oracle on how to be ready for it.

IFRS 17 Implementation Deferred, Time to Plan Wisely. Find out more from Oracle.

IFRS 17 Implementation Deferred, Time to Plan Wisely. Find out more from Oracle.

Oracle employs deep learning in its financial crime solutions. Discover more how deep learning and graph analytics can help you combat financial crime.

Oracle employs deep learning in its financial crime solutions. Discover more how deep learning and graph analytics can help you combat financial crime.

IFRS 17 Premium Allocation Approach simplified, but not so simple. Uncover how you can position yourself for success. Find out more from Oracle.

IFRS 17 Premium Allocation Approach simplified, but not so simple. Uncover how you can position yourself for success. Find out more from Oracle.

The launch of 5AMLD brings implications for anti-money laundering and compliance. Oracle’s Frédéric Boulier shares his views on what 5AMLD means for financial institutions and other businesses.

The launch of 5AMLD brings implications for anti-money laundering and compliance. Oracle’s Frédéric Boulier shares his views on what 5AMLD means for financial institutions and other businesses.

How are emerging technological changes influencing bank lending in 2020? Oracle’s Tushar Chitra shares more.

How are emerging technological changes influencing bank lending in 2020? Oracle’s Tushar Chitra shares more.

How can banks leverage on data for new value added offerings to their customers? Oracle’s Conor Colleary shares more.

How can banks leverage on data for new value added offerings to their customers? Oracle’s Conor Colleary shares more.

IFRS 17 Readiness, Shaking Up Finance and Actuarial Alignment, and Alignment of IFRS 17 Operations. Find out more from Oracle.

IFRS 17 Readiness, Shaking Up Finance and Actuarial Alignment, and Alignment of IFRS 17 Operations. Find out more from Oracle.

IFRS 17 Readiness, Shaking Up Finance and Actuarial Alignment, and Alignment of IFRS 17 Operations. Find out more from Oracle.

IFRS 17 Readiness, Shaking Up Finance and Actuarial Alignment, and Alignment of IFRS 17 Operations. Find out more from Oracle.

Technological advancements opens new approaches for working capital management. How can Corporate Banks tap on this? Oracle shares more.

Technological advancements opens new approaches for working capital management. How can Corporate Banks tap on this? Oracle shares more.

In lieu of the outcomes of the Royal Commission, what are some strategies that Australian Banks can adopt? Discover more.

In lieu of the outcomes of the Royal Commission, what are some strategies that Australian Banks can adopt? Discover more.

IFRS 17 Opportunity, Agile Insurers Plan Wisely, and Approaching IFRS 17 with Agility. Find out more from Oracle.

IFRS 17 Opportunity, Agile Insurers Plan Wisely, and Approaching IFRS 17 with Agility. Find out more from Oracle.

Mortgage application taking more time than required before you know the outcome? Oracle’s Susan Harden shares more.

Mortgage application taking more time than required before you know the outcome? Oracle’s Susan Harden shares more.

As populations age and healthcare costs spiral, how can digital innovation bring value back to insurers? Oracle shares more.

As populations age and healthcare costs spiral, how can digital innovation bring value back to insurers? Oracle shares more.

Blog co-authored with Geert Mouwen from APRO Software Solutions One of the concerns of companies considering a move to Oracle ERP Cloud is their existing bank treasury connectivity. Many companies have gone through extensive processes with their banks building and testing formats and setting up connectivity, often resulting in completely customized solutions. These projects have taken a lot of time, money and effort to complete and to maintain. Understandably companies are not very eager going through that experience again. On the other side, global transaction banks today are under heavy pressure to provide superior experience to their customers in the areas of executing global payment transactions. However, many banks and the corresponding corporate treasury organizations are now settling with inferior customized solutions that are taking too long to implement and do not provide the true straight through processing experience. Due to the high number of customizations offering new services to existing clients has become a difficult process. One of the big benefits of moving your ERP to Oracle Cloud is the access to a broad range of third-party apps through the Oracle Marketplace. Apps that allow for easy access to the latest fintech products and services. Also, banks are also moving ahead, and more and more banks are seen expanding their services to be directly accessible through API’s. Embedding the Bank in Oracle ERP with Oracle Fintech APRO Cloud Solutions: What if there is a treasury banking app on the Oracle Cloud Marketplace that acts as a global universal bank ERP payments and treasury adaptor? On one side you plug directly into your customers ERP, and on the other side you connect to your own internal banking systems. The plugin has a global format library available that has the latest bank formats and transmission protocols available for both global and local banks. As soon as your banks API’s become available this app will allow your customers to utilize your new API services by just upgrading the app, giving your clients the option to use your services without the need for any development on their side. Banks today can deliver this global payment solution for their ERP customers by simply leveraging the APRO Cloud Solutions Banking Gateway application and do a one click deployment on Oracle Cloud. Any ERP customer globally can instantly connect to their treasury bank with this offering enabling them to improve their operational efficiencies, improve their cash flows by calling real time banking APIs and gain instant insight into payments status. APRO Cloud Solutions Banking Gateway does just that. It is created by a highly specialized company that builds bank connectivity and formats for Oracle for over 20 years. APRO is using Oracle Java Cloud & Oracle Autonomous Database technology and their Banking Gateway solution can be found on the Oracle Cloud Marketplace since 2016. With Oracle Cloud banks can be assured of the security, scalability and performance of the solution and can be confident that the solution complies to global banking regulatory compliance requirements. If your ERP connectivity is a concern for migration to Oracle ERP Cloud, it might be worth checking out what this application can do. For banks looking to deliver treasury banking and payments capabilities integrated seamlessly to Oracle ERP Cloud , APRO Cloud Solutions Banking Gateway provides the banking experience embedded into Oracle ERP systems. This solution delivers banking experience to where their customer conduct business, drastically improve customer experience and remove operational efficiencies in payments and treasury banking. APRO Cloud Solutions Banking Gateway can be found on Oracle Cloud Marketplace here. Learn more about the Banking Gateway solution here.

Blog co-authored with Geert Mouwen from APRO Software Solutions One of the concerns of companies considering a move to Oracle ERP Cloud is their existing bank treasury connectivity. Many companies have...

AML analytics can be challenging, but there are five ways innovation can help. Discover more with Oracle.

AML analytics can be challenging, but there are five ways innovation can help. Discover more with Oracle.

If you think about it, financial services have traditionally been disconnected from their customers’ goals. For instance, when we want to buy a vehicle or house, or purchase inventory for a manufacturing process, we typically begin by researching and evaluating our options, then making a purchase decision. Only then do we look at the financial services necessary to complete the transaction. But financial services companies today are already well on their way to changing this experience, and three technologies are key to this transformation: APIs, adaptive intelligence (AI)/machine learning, and blockchain. These key strategies involve leveraging large troughs of data so banks can become an integral part of the consumers’ journey, engaging intelligently with customers through contextual offers and advice, and connecting customers and the services they need. The Integral Bank: becoming integral to customers’ lives by using APIs to embed the bank in every customer interaction One key opportunity that financial services companies have with APIs is to bring the banking experience directly to the customer where a decision is happening with banking-as-a-service-enabled strategies. One example of this is a recent partnership announcement between Citi and big-tech Google. Using APIs to expose its banking services, Citi has enabled Google to offer these financial services as the customer is searching for services and offers on the web. In the future, customers will be able to search for a vacation home or airline travel, and Google will be able to integrate seamless and contextual banking services into the customer flow. Then a bank like Citi will power the transactions, be it on-point lending or embedded payments, to complete transactions without users ever leaving their journey. By exposing their services so they can be embedded in customers’ daily experiences, banks can increase their reach and help provide contextual services to customers at the point of the transaction.   This example of delivering banking ubiquitously is now being explored by many leading banks who are opening up their banking services as APIs and embedding the bank experience directly where the user conducts everyday transactions, rather than the consumer having to come to the bank. This approach also enables banking to be distributed by third-party fintechs or big techs without needing to take on the regulatory burden of becoming a bank. On the other side of the spectrum, banks can assemble third-party services that they typically don’t offer and, essentially, become a one-stop financial services shop for their customers through an approach called banking-as-a-platform. Starling Bank in the UK is an example of a bank using APIs to bring all these services together to deliver a seamless experience to its customers – an experience Starling calls the Marketplace. The bank describes the Marketplace as an “ecosystem of financial products” – both consumer and business customers can access a number of digital financial services through their Starling accounts, including mortgages, pension investment management, and homeowners’ insurance.  A typical retail bank or credit union can achieve massive scale by implementing a platform approach and aggregating services in a seamless experience—eliminating the need for consumers to go to different institutions for different services. The Intelligent Bank: leveraging data with adaptive intelligence (AI) to engage with customers through intelligence and to enable autonomous finance Once all of the available data is aggregated through banking-as-a-service or banking-as-a-platform, banks can power personalized offers based on all the interactions customers have with the ecosystem partners through AI/ML-enabled engines that parse the data in real time and present highly contextual and relevant inline offers. This is the future of banking: contextual finance, where the bank is able to offer the right product at the right time in real time to the right person based on data that’s acquired from interactions customers have with the ecosystems or with a wider set of platform applications. Banks are already rapidly moving to deliver highly tailored services to a segment of one by leveraging all the data available to them. For instance, AI is already being used to provide consumers with advice on how to use their money, how to budget well, and how to invest and achieve long term investment goals, all powered by intelligent agents. Self-driving finance enables banks to deliver proactive advice to their customers to empower them to take control of their financial well-being. This strategy boosts customer engagement and product adoption. Using Oracle Autonomous Cloud, fintech company Personetics is delivering “self-driving” or autonomous finance today to banks. We’re also seeing AI and natural language processing (NLP) being used to drive conversational engines that can converse easily with customers in natural language; these engines have full awareness of context and can seamlessly adapt to deliver a human-like experience.  Another example of a company that delivers natural conversational AI banking experience with fully pre-trained agents is Ipsoft . Their digital agent Amelia can cover mortgages, loans, onboarding, wealth management leveraging the autonomous cloud, big data and the Oracle open banking platform.  Employment of digital labor improves customer experience, reduces time to resolution while continuously improving back office bank efficiencies. Machine learning-based models are also now being used in underwriting to provide a holistic view of borrower risk based on alternative data. In the past, this would have taken weeks because publicly available data had to be collected from different sources and then aggregated for analysis. Now, it can be seamlessly synthesized in minutes to enable the risk teams to bring all the information together in concise, succinct bullet-size information to make credit decisions. Using real-time payment information and a risk management system to analyze thousands of customer transaction variables, MYbank in China is now making small business lending decisions in fewer than three minutes.  Borrowers apply with a few taps on a smartphone and, if they’re approved, receive cash almost instantly. There are no humans involved in the process, and the default rate is practically non-existent (1%). The Connected Bank: connecting customers and their banking needs through blockchain When dealing with global financial payments, inter-bank transfers, fraud detection, and loan processing, the processes have traditionally been slow. At the backend, the process requires banks to cooperate and connect seamlessly with other entities. Lack of transparency is also a major hurdle. With these hurdles, it might take days for banks to complete a transaction. But blockchain is changing this experience. Arab Jordan Investment Bank (AJIB) is an excellent example of how blockchain can improve and speed processing. Before adopting blockchain, the bank’s money transfers required third-party intermediaries for cross-border transactions. Each intermediary charged a fee and required AJIB to share some customer information with those third parties, which involved strict regulation compliance. With Oracle Blockchain, the bank is now able to make transfers in real time without the transaction fees that used to occur at every stage. Both senders and receivers can track the money transfers as they’re happening, providing information about the exact timing and amount of the transfer. This has resulted in tighter security, elimination of delays, and automated transactions without third-party interference. Oracle Helps Facilitate the Future of Financial Services Oracle is taking a leading role in building the future of banking with technologies that enable banks to become integral, intelligent, and connected to their customers’ lives: Oracle Autonomous Database uses AI/ML capabilities to minimize human intervention and eliminate manual, error-prone tasks, which minimizes operational risk exposures and tightens data security. Oracle AI enables data scientists and data engineers to build, train, deploy, and manage machine learning models and assets within a single collaborative workspace to better manage the real-time information that’s flowing into the bank from multiple channels. Oracle Fintech Innovation helps smaller banks and fintech companies succeed by combining Oracle’s financial services and technology expertise with Oracle for Startups, a program designed to help accelerate growth and leverage Oracle’s world-class enterprise cloud platforms and ecosystems. Oracle drives digital innovation into banking with curated enterprise-grade financial technology that delivers solutions in payments, cognitive banking, autonomous personal finance, wealth management and a variety of transformational digital fintech solutions on Oracle Cloud that can be easily plugged into the bank with Oracle banking APIs. Oracle Open Banking Platform provides the APIs and tools banks need to succeed with their open banking and digital transformation initiatives. It helps them develop and deploy new digital services rapidly and share data securely by enabling them to deliver banking-as-a-service or connect to ecosystem partners for banking-as-a-platform capabilities. Oracle Blockchain Platform provides trusted peer-to-peer permissioned networks to run smart contracts and maintain tamper-proof distributed ledgers for B2B transactions, eliminating intermediaries and points of failure. Learn more about how technology is transforming the financial services industry in this video.

If you think about it, financial services have traditionally been disconnected from their customers’ goals. For instance, when we want to buy a vehicle or house, or purchase inventory for...

Graph analytics can help to turn the tide in our war against human trafficking. Find out more.

Graph analytics can help to turn the tide in our war against human trafficking. Find out more.

What are 2 key concerns consumers have when their data is shared by insurance providers? Matthew shares his thoughts.

What are 2 key concerns consumers have when their data is shared by insurance providers? Matthew shares his thoughts.

Reviewing 2019, Oracle considers the top 3 questions relating to anti-money laundering fines across regulators, geographies, and industries. Find out more.

Reviewing 2019, Oracle considers the top 3 questions relating to anti-money laundering fines across regulators, geographies, and industries. Find out more.

Curious about how technology could be leveraged to drive growth for retail banking branches? Read more.

Curious about how technology could be leveraged to drive growth for retail banking branches? Read more.

AML analytics can be challenging, but there are five ways innovation can help. Discover more with Oracle.

AML analytics can be challenging, but there are five ways innovation can help. Discover more with Oracle.