Oracle has expanded its Oracle Banking Cloud Services portfolio to provide banks with a range of tools and solutions for transaction banking. These services aim to enhance cash management, liquidity management, and virtual account management for banks, ultimately improving their visibility and forecasting capabilities. The goal is to enable customers to use their cash more effectively.
Additionally, Oracle has made enhancements to its Oracle Banking Accounts Cloud Service and Oracle Banking Enterprise Limits and Collateral Management Cloud Service. These enhancements are designed to streamline credit facility lifecycles and allow banks to onboard corporate customers more quickly.
Here’s a summary of the new and enhanced Oracle Banking Cloud Services:
- Oracle Banking Liquidity Management Cloud Service: This service offers investment opportunities, pooling, sweeping, and interest optimization to help corporations manage their working capital more efficiently.
- Oracle Banking Virtual Account Management Cloud Service: This service provides corporations with tools to manage complex global account structures and gain clarity on their capital.
- Oracle Banking Cash Management Cloud Service: Empowers corporate customers with cash flow forecasting, efficient collections and receivables management, and automated reconciliation.
- Oracle Banking Enterprise Limits and Collateral Management Cloud Service: This service digitizes and simplifies the credit lifecycle, optimizing credit decisions and accelerating origination and servicing while mitigating risks.
- Oracle Banking Accounts Cloud Service: This service streamlines account management and operations for both corporate and retail accounts.
- Oracle Banking Payments Cloud Service: Facilitates real-time payment processing and offers a one-stop solution for various payment types.
- Oracle Digital Banking Experience Cloud Service: Enhances self-service experiences for corporations, providing actionable insights and automation.
- Oracle Banking APIs Cloud Service: Offers a range of ready-to-deploy banking APIs to accelerate innovation and improve customer experiences.
These services are part of the Oracle Banking Cloud Services suite, which is built on a microservices architecture, providing flexibility, scalability, security, and compliance with Oracle Cloud Infrastructure. The goal is to help banks deliver enhanced customer and banker experiences, providing immediate and tangible business value. These solutions are designed to be seamlessly integrated into corporate enterprise resource management systems, enabling real-time payments, settlements, and cash cycle optimization.