Banks take a step forward with Oracle Cloud

Ben Morris Mar 8, 2023 2:29:10 PM

Oracle Banking Cloud Services in OCI

Today's finance industry is more competitive than ever, and banks must constantly adapt to new challenges, such as rising customer expectations, regulation compliance and security breaches. To manage these challenges, Oracle has launched Oracle Banking Cloud Services, a new suite of composable cloud-native services on Oracle Cloud Infrastructure. This is great news for banks as it will help modernise their business capabilities with less risk and be better equipped in an ultra-competitive market.

If you’re looking for SaaS for your finance company, you'll need the right infrastructure to support it. Contact one of our Oracle Cloud experts today to see if OCI is the right solution for you.

“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.”

Benefits of OCI for banks:

  • Centralised data security - when you use cloud computing, data backups are centralised in the cloud providers' data centres, removing the need for individual users or teams to maintain their own backups onsite or offsite. This lowers the risk of data loss should any backup fail or be destroyed by a disaster.
  • Higher performance and availability - by using cloud computing resources, you reap greater performance gains than by having your own dedicated server hardware. Cloud computing increases input/output operations per second (IOPS). Oracle cloud delivers as much as 20x the IOPS of Amazon Web Services.
  • Instant business insights - cloud-based platforms provide a distinctive opportunity to access data as soon as it’s collected. This facilitates better decision-making and insight into what the future may hold for your organisation based on predictions from historical data.
  • Business continuity - in the event of a disaster or unforeseen circumstances, do you have an effective backup plan? If not, relying on cloud computing services can benefit your organisation. Cloud computing uses infinite data storage space and systems that can be activated remotely if necessary to ensure business continuity.

If you're interested in discovering if Oracle Cloud is the right fit for your organisation, contact us today.


Listed below are the new Oracle Banking Cloud Services:

Banking Accounts Cloud Service

Oracle Banking Accounts is a scalable, cloud-native architecture to deliver a highly concurrent DDA system platform to reduce risk and enhance control. 

Banking APIs Cloud Service

With more than 1,800 ready-to-deploy business and foundational banking APIs, Oracle Banking APIs Cloud Service authorises banks to establish an open banking platform to advance innovation whilst complying with regulations. 

Banking Digital Experience Cloud Service

Oracle Banking Digital Experience Cloud Service is a digital banking solution that provides ready-to-go retail, corporate, and Islamic banking experiences while merging with a bank’s core banking system.

Banking Enterprise Limits and Collateral Management Cloud Service

With the absence of an enterprise-wide system, efficient monitoring, and better controls, corporate banks need help managing the influx of defaults. Oracle Banking Enterprise Limits and Collateral Management gives banks a holistic view of their exposure by centralising the limits definition process and collateral management. 

Banking Payments Cloud Service

Oracle Banking Payments Cloud Service enables payments in real-time, anywhere and at any scale thanks to the digital payments solution built natively on the ISO 20022 framework.

If you are interested in financial service offerings, check out our services - IT Services for Finance.

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