Oracle announced that it had recently launched Oracle Banking Cloud Services which is a new suite of six componentised and composable cloud native services.
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.
The services can run standalone, work seamlessly together, and coexist with existing applications to help banks lower cost and risk while increasing innovation.
Oracle said that banks will 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 that lower IT costs and burden.
With most cloud regions available globally, in addition to the most extensive set of distributed options, Oracle Banking Cloud Services can be deployed based on sovereignty or data residency needs.
“Banks of today must create integrated, digital ecosystems to meet modern customer needs and stay ahead of the competition.
With Oracle Banking Cloud Services, banks of all sizes in Singapore are able to innovate rapidly and securely, deliver seamless services across the customer journey and enhance operational efficiency in the leading financial hub in Asia Pacific.”
said Horng Shya Chua, Managing Director, Oracle Singapore.