Oracle releases Banking Payments solution

Oracle Open World 2015Business technology company Oracle has released its Oracle Banking Payments solution targeting to create more IT deals in the payments industry.

The US-based technology company said Oracle Banking Payments solution will assist banks to compartmentalize payments messaging, message transformation and payment processing while providing fidelity insight.

Banks – using the Oracle Banking Payments API — can innovate within the Internet of Payments, collaborate with third parties or curate new business models in collaboration with Fintechs.

Oracle runs payments for over 500 banks across 140 countries. Oracle enables over 20 percent of the inward and 22 percent of the outward real time settlements in India.

“With Oracle Banking Payments, financial institutions can improve straight through processing, support real-time and immediate payment settlement and reduce time-to-market while driving innovation,” said Chet Kamat, senior vice president, Oracle Financial Services.

Oracle also launched two new solutions — Oracle Banking Liquidity Management and Oracle Banking Corporate Lending — to meet the needs of banks looking to provide real-time, multi-currency, cross border, multi-entity banking services while maintaining high fidelity insight and multi-jurisdictional compliance.

The company said Oracle Banking Corporate Lending solution supports the credit lifecycle from customer onboarding to credit management and loan processing. Banks can structure profitable financing deals, lower credit risk and embed optimized credit support at every stage of the customer’s business.

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