Oracle Financial Services Software has released FLEXCUBE Universal Banking, a back-office banking application that enables multi-entity and multi-product processing and supports business processes.
Oracle said that, FLEXCUBE Universal Banking is a SOA-enabled application, that helps customers address new business requirements, streamline processes, integrate with disparate systems, and incorporate new services or upgrade existing ones in a phased manner.
In addition, the new release features enhancements including an extensibility framework, simulation tools, enterprise origination capabilities and enterprise integration accelerators, that make it easier for banks to centralise origination functions in order to eliminate redundancy, cut lead times and increase overall efficiency, the company claims
Oracle FLEXCUBE Universal Banking has now been certified for Oracle VM, which is expected to help banks reduce hardware requirements and achieve cost savings when running the application.
Joseph John, executive vice president for banking products at Oracle Financial Services Software, said: With the turn of events over the past year in the industry, it has become critical for banks to provide customers with the best deals, reduce costs and not lose sight of opportunities for long-term competitive differentiation.
The new release of Oracle FLEXCUBE Universal Banking provides banks a proven banking platform that addresses not only today’s critical business imperatives, but also gives them the flexibility to adapt to changing market conditions and business requirements in the future.
