Oracle has delivered two new cloud-native services that simplify the complex, fragmented processes that have hamstrung corporate banking. With Oracle Banking Corporate Lending Process Management Cloud Service and Oracle Banking Credit Facilities Process Management Cloud Service, banks can speed the completion of everyday activities, such as loan and credit processing. Built on the performance and scalability of Oracle Cloud Infrastructure (OCI), the offerings help banks grow their business and deliver exceptional customer service whilst reducing operational costs.
“In the coming years, it’s estimated that corporate banks will derive up to 30%[1] of their revenue from digital channels,” said Sonny Singh, executive vice president and general manager, Oracle Financial Services. “This requires banks to accelerate automation and digitization of paper-heavy processes so they can focus on retaining and expanding customer relationships. Built on our deep industry expertise, these new cloud-native solutions provide banks a quick, componentized option to modernize loan and credit management activities.”
Process management made easier in the cloud
With the services, corporate banks can streamline operations through automated workflows with the flexibility to customize various lifecycle processes. The solutions also offer persona-specific operational dashboards to enable bankers with real-time customer insights for smarter and faster decision-making.
Oracle Banking Corporate Lending Process Management Cloud Service enables banks to meet customers’ on-demand and custom-financing needs by accelerating the loan process from initiation through to closure—all without sacrificing user experience or transparency in the application process.
Corporate credit is one of the longest processes in corporate banking—it can take months for validation. Oracle Banking Credit Facilities Process Management Cloud Service can reduce that cycle to just a few days. Banks can accelerate credit origination and servicing, pre-qualify credit lines, track exposures to customers in real-time, and mitigate business risks.
These new services follow OracleÂ’s recently introduced corporate banking solutions for supply chain financing, liquidity management, and virtual account management. Each solution runs on the high-performance OCI Container Engine for Kubernetes and automated with OCI Resource Manager and Terraform across multiple Oracle Cloud Regions, which means global banks benefit from the highest levels of system availability, scalability, and data security.
Additional Information
Learn more about Oracle Corporate Banking Solutions here.
Learn more about Oracle Cloud Infrastructure here.
[1] Boston Consulting Group Executive Survey as reported in Business Chief Europe: https://www.businesschief.eu/corporate-finance/corporate-banking-sector-must-embrace-digital-transformation-says-new-report-1About Oracle Financial Services
Oracle Financial Services Global Business Unit provides clients in more than 140 countries with an integrated, best-in-class, end-to-end solution of intelligent software and powerful hardware designed to meet every financial service need. Our market-leading platforms provide the foundation for banks and insurersÂ’ digital and core transformations and we deliver a modern suite of Analytical Applications for Risk, Finance Compliance, and Customer Insight. For more information, visit our website at https://www.oracle.com/industries/financial-services/index.html.
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