New cloud application suite helps mid-sized banks stay safe, compliant, and ready for growth.
Oracle today announced new cloud services to help mid-sized banks combat money laundering and outsmart financial crime. Oracle Financial Crime and Compliance Management Cloud Service brings two decades of experience in fighting big bank financial crime to an easy-to-manage, cost-effective application suite designed for mid-sized banks. The solution powers the full anti-money laundering (AML) lifecycle, so institutions can streamline compliance activities and costs and quickly identify abnormal customer behavior to stop illicit activity.
Built on the highly secure, scalable Oracle Cloud Infrastructure (OCI), Financial Crime and Compliance Management Cloud Service's Transaction Monitoring and Regulatory Reporting applications are available today. Know Your Customer (KYC) and Customer Screening capabilities are expected later this year.
'With criminals getting increasingly sophisticated, mid-sized banks struggle to keep pace with the complexity and cost of fighting financial crime,' said
Fighting financial crime in the cloud
The application suite delivers the capabilities mid-sized banks need to help them stay compliant and safe, including:
An extensive catalog of regulator-accepted AML scenarios developed over years of working with the largest, most complex banks.
Built-in tools for custom scenario design, analysis, threshold simulation, and tuning.
A centralized, 360-degree view of customers and events.
Out-of-the-box regulatory reporting templates to help comply with requirements across key global jurisdictions.
The ability to easily scale and configure to support new products.
Oracle Financial Services Crime and Compliance Management Cloud is available today in
Contact Info
Oracle
judi.palmer@oracle.com
+1 650 784 7901
H+K Strategies
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312 451 1757
About Oracle
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