Suzie Batten, Chief Technology Officer, Weatherbys Bank

Oracle Financial Services has launched a package of 1,500 ready-to-use APIs for payments, retail and corporate banking.

The APIs provide banks with a prebuilt repository of more than 1,500 REST APIs which are based on Oracle’s experience of servicing over 600 banks across 140 countries over two decades.

“The early mover advantage is critical for success for banks in the open banking era,” said Chet Kamat, Senior Vice President, Oracle Financial Services. “Oracle Banking APIs is designed to bring acceleration, and help banks gain the competitive advantage in the market.”

“At Weatherbys Bank, we believe in providing personalised service, considering every customer a unique individual. Oracle Banking APIs will enable us to provide innovative tailored services while managing customer consent, identity and security,” said Suzie Batten, Chief Technology Officer. “With Oracle Banking APIs, we can comply with PSD2 and Open Banking rules in the UK. We look forward to simplifying our customers’ financial transactions and enhance our value in making banking an effortless experience.”

Banks that use Oracle Banking APIs can take advantage of pre-integration with existing Oracle core banking systems, Oracle Banking Digital Experience, Oracle Identity Cloud Service and Oracle API Platform Cloud Service. The solution is also capable of working with any core banking or online banking solution, identity management and API gateway solution.

Key features of Oracle Banking APIs:

  • More than 1,500 APIs in the sphere of payments, retail and corporate banking including specialized functionalities such as multiproduct originations, retail customer financial insights, bulk payments, and trade finance
  • Dynamic customizable APIs that understand business logic with intelligent pre- and post-processing capabilities
  • Centralized change management for faster-time-to-market
  • Ease of integration with any existing banking solutions
by Bill Boyle
IBS Intelligence Senior Editor