Wednesday, April 15, 2009

ORACLE FIN LAUNCHES SOA-BASED APPLICATION FOR BANKS

Mumbai
The Economic Times

Oracle Financial Services Software on Tuesday introduced Oracle FLEXCUBE Enterprise Limits and Collateral Management, which is a SOA-based application to help banks more effectively to manage exposure across the enterprise. Customers using the product can centralize exposure management across the entire spectrum of offerings including loans, trade finance, treasury and overdrafts.

Oracle FLEXCUBE Enterprise Limits and Collateral Management enables efficient limits monitoring across the institution with centralized online tracking and monitoring of multi-currency limits for all transactions across all branches or entities - in countries as well as regions. The solution helps banks make informed credit decisions with fast and accurate credit information - by customer and segment - while also helps improve exposure management with collateral pooling and contribution controls.

"Enterprise limits and collateral management is of importance for successful credit risk management at banks, and even more crucial given the ongoing financial market turmoil. Having excellent visibility of their client accounts would minimize defaults and help thaw out the liquidity freeze by increasing banks' confidence in lending," Li-May Chew, CFA, Senior Research Manager, Asia/Pacific Risk Management Advisory Service from Financial Insights (an IDC company), was quoted as saying in a press release.

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