Software

Oracle intros cloud-based finance, risk management solutions for banks

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June 20, 2023

Oracle has released cloud-native services to help banks handle finance and risk management. The four solutions offer profitability management, customer analytics, funds transfer pricing, asset liability management and cashflow forecasting, according to a press release.

With these solutions, banks can make data-driven decisions and adjust their risk management strategies. The cloud services can run by themselves or work together with other applications via APIs and a data layer.

"Recent events demonstrate that financial institutions have an opportunity and obligation to better use data to understand and manage risk," Sonny Singh, EVP and general manager of Oracle Financial Services, said in the release. "With powerful analytics and AI built-into our new cloud solutions, firms can bolster their risk management, economic stress-testing, and scenario analysis capabilities to mitigate exposure and get ahead of the regulatory response that is likely to come from these banking failures."