Henceforth Oracle FLEXCUBE Introduced New Features to Help Banks Enhance Mobile and Payment Capabilities.

With this new release (Oracle FLEXCUBE), Oracle Financial Services Software Limited aims to help financial institutions to support regulatory compliance, offer richer and more personalized customer experiences, improve performance and streamline their IT environments.

According to Oracle, today’s financial services landscape calls for seamless, rich and individualized online and mobile experiences for consumers, new ways to meet increasing regulatory pressures and the ability to continually drive improved

performance.

In this momentum, Oracle FLEXCUBE has expanded capabilities to new contactless payment and rich, personalized portal enhancements as well as new Society for Worldwide Interbank Financial Telecommunication (SWIFT) certification and Foreign Account Tax Compliance Act (FATCA) compliance.

Connectikpeople has also observed that, these features include support for due diligence for new customer on boarding and existing customers to identify United States (U.S.) individuals and U.S.-owned foreign entities.

Customer Experience

Henceforth, Oracle FLEXCUBE Mobile Banking now supports contactless payments, including near field communication (NFC), quick response (QR) code support, person-to-person (P2P) and social media payments, enabling banks to offer a new level of convenience and flexibility for customers.

Regarding Oracle FLEXCUBE Direct Banking, it enables banks to provide more comprehensive, flexible and consistent service as well as greater customer convenience with end-to-end multi-channel, multi-step and multi-device collaborative originations capabilities for retail and corporate customers. It also provides expanded customer self-subscription and on boarding features and enables full-scale straight through processing (STP) and support for offline processing.

The enhanced Oracle FLEXCUBE platform also integrates more easily call centers, ATMs and kiosks to quickly and effectively enable customers to access their accounts.

Operational Performance FLEXCUBE Information Server, enables users to simply and rapidly analyze products, review current profitability data and trends to better optimize business decisions and manage competitive pressures, and review standard reports and enhance accountability by monitoring branch-level performance.

Oracle FLEXCUBE Development Workbench will now support R10 and R11 versions of FLEXCUBE, enabling financial institutions to transfer existing customizations from one FLEXCUBE release to another to help speed upgrades and help reduce cost and resource requirements.

Finally, Oracle FLEXCUBE Universal Banking now runs on Oracle Database Appliance X3-2 to deliver mid-size banks a compelling banking-in-a-box solution. With this certification, banks can benefit from a low-IT-footprint, high-performance, full-scale banking technology that is engineered to support end-to-end business requirements.