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Oracle helps banks service Gen Y

02 Jul 2012

Oracle has announced the launch of Oracle FLEXCUBE 12.0, the latest version of the platform, which is designed to help banks to better meet the needs of its Gen Y customers.

The release includes features that enable banks to deliver more personalised and convenient service to customers across all channels. It also offers a harmonised infrastructure and an open development environment that allows more flexible deployment options and upgrade paths. The new solution is expected to provide enhanced customer self-service capabilities across multiple channels including online, mobile, ATM and branch banking, as well as expanded functionality for knowledge workers.

“Oracle FLEXCUBE 12.0 gives financial institutions the power to redefine the banking experience and deliver a ‘personal banker’ experience to each and every customer,” said Chet Kamat, managing director and chief executive officer, Oracle Financial Services Software. “It gives bankers the intelligence needed to truly understand customers and how they interact with the institution along with the flexibility to deliver a highly responsive, personalised experience and robust-transaction capabilities regardless of the customer’s location.”

The launch also signifies a strategic shift in release strategy for FLEXCUBE with new versions of Universal Banking, Private Banking, and Direct Banking modules being released simultaneously in an integrated manner.

Frank Shih, executive vice president of ChinaTrust Commercial Bank says “ChinaTrust Commercial Bank has standardised its international operations on Oracle FLEXCUBE. For our bank, customer centricity is a key success factor. We are excited to see the new features in Oracle FLEXCUBE 12.0. The focus on customer centricity in the solution is something that many banks like ours will find very useful.”

New online capabilities provide spend analysis, alerts and reminders across portfolios and interactions, empowering customers to track expenses and investments and giving them greater control over their finances. Oracle FLEXCUBE 12.0 also offers enhanced mobile banking capabilities with new versions of applications for the iPhone, iPad, and Java ME devices. Banks can use Oracle FLEXCUBE to provide customers with real-time offers and coupons based on location for a more personalised experience.Expanded assisted-channel support and built-in analytics enable relationship managers to map a full enterprise-wide view of the customer relationship to help optimise service and sell additional products.

The new version also features enhancements for bank staff, which Oracle claims help transform employees into knowledge workers.

Role-based business dashboards help provide bankers with key insights for enhanced productivity, guiding them to important revenue generating-tasks that require their attention.

A new interactions framework gives bank employees a 360-degree view of all customer interactions in one place, enabling them to be more responsive to customer needs and helping to provide a personal banker experience to each customer.