Oracle has introduced its Financial Services Enterprise Case Management to help financial services institutions to manage financial crime investigations and compliance across their enterprises.
To meet the diverse demands of their business-specific investigation functions the new offering provides financial services organisations with a single, enterprise-wide case management platform and the offering gives financial institutions a complete view of their financial crime and compliance management initiatives.
With the new offering organisations can share their channel-specific information, such as online banking, ATMs and payments, to collaborate with analysts across all financial crime units in the enterprise and also organisations can preserve their existing financial crime detection and prevention investments, such as anti-money laundering (AML) and fraud offerings.
The banks operational costs which are associated with managing compliance and financial crime can be reduced with Oracle Financial Services Enterprise Case Management and also the banks can consolidate technology costs from multiple financial crime, compliance programs, leverage technology expertise and resources across various lines of businesses with the help of enterprise-wide case management platform.
The new offering provides flexibility and the ability to extend financial crime processes, enabling financial crime and compliance management stakeholders to enhance stakeholder’s investigation process.
Oracle Financial Services Analytical Applications group vice-president and general manager S. Ramakrishnan said Oracle Financial Services Enterprise Case Management helps organisations gain a comprehensive view of financial crime investigations across their enterprises, enabling new levels of collaboration and insight.
"At the same time, this enterprise approach helps organizations to control the rising operational costs associated with financial crime investigations and compliance by enabling them to consolidate technology costs, preserve existing fraud and AML IT investments, and share IT resources across various business groups," said Ramakrishnan.
