Oracle Banking Platform

Oracle Banking Platform is a componentized solution designed as a native service-oriented architecture (SOA) platform, helping banks progressively transform their business models by streamlining and automating business processes; adopting new distribution strategies and implementing key enterprise services.

Oracle Banking Platform has been designed and engineered for global banks that are looking at transforming and overhauling their legacy systems. It comprises both banking-specific applications and enterprise applications built on Oracle Fusion Middleware products and Oracle Database technologies. The Platform is a true native SOA core banking application that allows banks to break down each element of their architectural system so that it can be handled on its own without affecting existing components. Banks can make technology upgrades or replacements piece-by-piece at their own pace, enabling them to strike a balance between innovation and simplification. The services are built to ‘enterprise grade’ standards and can be deployed at the Application or Enterprise level. Oracle Banking Platform is a comprehensive, pre integrated solution which is underpinned by an industrial strength Reference Process Model and is developed leveraging over two decades of expertise in the financial services industry gained from more than 500 + core banking implementations.

KEY FEATURES  Full “multi-multi” architecture supporting multiple brands, entities, currencies, languages and time-zones from a single instance of the platform  Modular, component-based design provides deployment flexibility  Incorporates industry standard reference process models  Use of open standards and technology  Business process based architecture  Key services (security, customer, etc.) “externalized” and able to be used as enterprise capabilities  Horizontal and vertical scalability  Instrumented for complete process transparency  Strong componentization, allowing for services to be deployed with any core processor  Compliance with industry regulations and localized for US and Australia

The Platform contains a suite of business applications for ‘distribution and manufacturing’ of banking products alongside financial services analytics tools.  Customer is at the heart of the business model: Designed for customer centricity, incorporating customer/ relationship data into servicing business rules thereby enhancing the customer experience. The solution provides a holistic view of the customer relationship across all products and services and helps banks adopt relationship pricing to create value for the customer and drive engagement reducing attrition. It also enables banks to manage limits & collateral at relationship level. 

Industrializing banking: Enables banks to streamline and automate business processes, consolidate back-office operations resulting in productivity improvements across front and backoffice. The solution enables service hub and sourcing strategies (process management and role based processing both critical enablers). 

Enabling innovation: Empowers bankers to configure process rules, product definitions and other system parameters, improving business responsiveness and enabling innovation. 

Multiple features in one solution: Supports multiproduct and multi-channel originations which helps increase cross-selling effectiveness and products per customer. The solution provides the banker with a holistic view of the customer relationship across all products and services allowing for pricing at a relationship level. It helps banks improve customer servicing and deliver a compelling experience leveraging consistent, targeted delivery of sales, services and marketing.