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May 6, 2012

Oracle unveils new financial service applications

The new applications are offered on Oracle’s Financial Crime and Compliance Management platform

By CBR Staff Writer

Oracle Financial Services has introduced its Financial Services Currency Transaction Reporting and Financial Services Currency Transaction Reporting Analytics.

The new solution helps banks to consolidate and streamline cash transaction processing, and generate and file electronic CTR reports using a single, enterprise-wide platform.

The new solution also helps banks get 360-degree view of all daily cash activities ensuring compliance and improve reporting efficiency.

New wew applications are offered on Oracle’s Financial Crime and Compliance Management platform.

They also will enable banks to assess cash activity, monitor CTR metrics, and productivity, as well as determine historical trends to prevent future compliance issues.

The new financial service applications also support quicker reporting for electronic and internal reporting across the enterprise.

The Oracle Financial Services Currency Transaction Reporting will enable banks to automatically and accurately consolidate the entire CTR process from teller entry through automated aggregation and generation of CTRs, to logging of monetary instruments for record-keeping and managing exemptions, through generation and filing of required e-file reports.

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