Oracle is excited to be named a “Leader” in the Gartner Magic Quadrant for Global Retail Core Banking Report, for the second year in a row.
Gartner notes that “Core banking market demand keeps surging, underpinned by digital banking transformation, with an increased focus on commercial off-the-shelf packages, public cloud and open banking initiatives.”
Quadrant Descriptions: Leader
“Leaders in the global retail core banking market tend to possess a high-order market understanding that helps in lead generation and ultimately in achieving more sales. In addition, they make it their business to monitor market trends and funnel progressive innovation into their product roadmaps. Most of them possess software development quality certifications (such as Capability Maturity Model Integration [CMMI]) or are pursuing them. The Leaders are also, without exception, “thinking small” or targeting component-based architecture as a gateway to providing increased accessibility to the granular functionality that banks need to drive the basis for differentiation.
Leaders have high viability and great customer feedback, even though lately the increase in the
number of sales has brought challenges in supporting customers at high standards. Leaders also focus on innovation — and the innovation trends that affect this particular market. They especially focus on trends with visionary capability in managing the ecosystem for open banking platforms by fostering open banking with their products and services in a collaborative environment with their ecosystem partners. They also leverage the cloud opportunity by gradually making their product more cloud-friendly with “APIfication” of the components and by introducing cloud-native components.”
Oracle’s FLEXCUBE is a complete retail banking product suite for consumer, corporate, investment, private wealth management, mobile and internet banking, consumer lending, asset management, and investor servicing, including local and cross-border payments across channels and networks.
To view the full report, click here
For more information on Oracle’s FLEXCUBE please visit our website at:
Gartner, Magic Quadrant for Global Retail Core Banking, Don Free, Vittorio D’Orazio, 22 July 2019
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