back Back

Banks accelerate the move to the Cloud with new Oracle Banking Services

By Edlyn Cardoza

February 08, 2023

  • API Management
  • IaaS
  • Oracle
Share

Oracle Banking Cloud Services, Oracle, API Management, Payment Processing, Risk Management, IaaS, USAOracle recently launched Oracle Banking Cloud Services, a new suite of componentised, 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.

“Banks must innovate to succeed in today’s hyper competitive environment,” said Sonny Singh, Executive Vice President And General Manager of Oracle Financial Services. “We have built one of the world’s most comprehensive suites of cloud-native SaaS solutions so that banks of all sizes can innovate with speed, security, and scale without compromising their existing environments.”

The services can run standalone, work seamlessly together, and coexist with existing applications to help banks lower costs and risks while increasing innovation. Banks 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, lowering IT costs and burden.

“The most recent IDC 2022 Worldwide Industry CloudPath Survey shows that nearly all banks surveyed plan to increase spending on all cloud deployment models,” said Jerry Silva, Program Vice President, IDC. “Including private cloud and public cloud infrastructure as a service (IaaS) and software as a service (SaaS), public cloud services are expected to grow at twice the rate of overall IT spending at 15% CAGR over the same five-year period, gaining a larger share of banks’ IT budgets.”

The new services are built and running on the high performance, scalability, security, and compliance of Oracle Cloud Infrastructure, including OCI’s Oracle Kubernetes Engine. 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.

Previous Article

February 08, 2023

Intellect announces collaboration with Amazon Web Services

Read More
Next Article

February 08, 2023

Madkhol launches its robo-advisory platform for shari’a investments

Read More








IBSi Daily News Analysis

Web3, Indian market

April 16, 2024

API Management

Explosive growth in Web3: UAE and MENA region poised to lead crypto, DeFi, and Metaverse revolution

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

FinTech finmid emerges from stealth with €35m equity funding

Read More

Today

Comviva launches ‘Low-Code/No-Code’ platform for Banks & Financial Institutions

Read More

April 16, 2024

Salt Bank rolls out financial app in Romania with Engine by Starling

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023