On Feb. 7, Oracle debuted Oracle Banking Cloud Services to help financial institutions keep up with transaction volumes, customer demands, and competitive threats.
This new offering is a suite of six cloud-native services aimed at innovation, speed, security, and scale.
- The six new cloud services include Oracle Banking Accounts, Oracle Banking Payments, Oracle Banking Enterprise Limits and Collateral Management, Oracle Banking Origination, Oracle Banking Digital Experience, and Oracle Banking APIs.
- Oracle claims its new banking suite leverages the high performance, scalability, security, and compliance provided by Oracle Cloud Infrastructure (OCI).
- The Banking Accounts service processes deposits on Oracle Coherence Datagrid Infrastructure for ultra-high scalability. It is also said to integrate with a bank’s existing process flows and technology for streamlined updates.
- The Banking Payments service purports to enable real-time payment processing with adherence to 15 global payment schemes.