Oracle Banking Virtual Account Management provides comprehensive support for banks looking to empower their corporate customers manage their banking accounts efficiently. Banks can leverage Oracle Banking Virtual Account Management capabilities in order to support their corporate customers achieve their strategic goals and drive profitability. Oracle’s virtual accounts management solution helps drive efficiency and allows access to real-time information for critical decision-making.

Oracle Banking Virtual Account Management aids banks in empowering corporate customers to manage their receivables and payables efficiently. Using Oracle Banking Virtual Account Management banks can enable payments on behalf of (POBO) and receive collections on behalf of (COBO) the main physical account and improve straight through reconciliation for corporate clients. Oracle’s virtual accounts management solution also enables banks to transform the approach to cash management and facilitates easy segregation of inflow and outflow of funds for corporates

By allowing banks to support multi-level, multi-entity, multi-currency virtual cash pool and empowering corporates to concentrate balances in fewer accounts the solution enables corporates to manage liquidity effectively. Corporates’ liquidity management ability is further enhanced with interest calculation, redistribution and internal credit limits definition and tracking of virtual accounts. With Oracle Banking Virtual Account Management, banks can vest corporates the ability to segregate and manage their client money effectively. Banks can enable multi-currency virtual account identifiers and improve receipt identification for corporate customers. Virtual account identifiers enables easy identification of the paying customer and the purpose of payments and it also automates receivables processing without the complexity of maintaining multiple accounts.

Oracle Banking Virtual Account Management offers intuitive dashboards for bank operational staff and relationship manager. These intuitive dashboards empowers the bank staff to serve customers efficiently.

By interfacing with Oracle Banking APIs, the solution offers a vast Open API set for virtual account management. Additionally with pre-built interfacing with Oracle Banking Digital Experience the solutions allows banks to offer self-service that empower corporates to manage virtual accounts with ease.

Banks also have the opportunity to opt for the easily scalable, secure and highly available Software as a Service, Oracle Banking Virtual Account Management Cloud Service. Built on cloud native environment, Oracle Banking Virtual Account Management Cloud Service ensures the highest level of system availability, performance and data security, Additionally Oracle ensures continues enhancement of the cloud solution with innovative features enabling its banking customers to stay ahead in the market.