Oracle Financial Services Software has announced a new release of Oracle FLEXCUBE Universal Banking. This brings together the Oracle, supporting banks in more than 125 countries including Pakistan, with a combined asset base in excess of 30 trillion dollars.
"Improving their reach and generating fee-based income through enhanced origination and distribution is at the top of the 2010 agenda for banks," said Joseph John, Executive Vice President, Banking Products, Oracle Financial Services Software. "Oracle FLEXCUBE Universal Banking release 11 marks a significant milestone, providing unmatched extensibility and integration capabilities combined with operational support. It builds on our proven track record and expertise in providing banks with core banking software solutions," he articulated.
While enlightening on the future prospects, Karen Massey, Senior Analyst, Consumer Banking, IDC Financial Insights said, "The new decade will bring a renewed spotlight on core banking renovation after a prolonged period of delaying core projects, during the global recession.
The focus will be on refreshing the core to support new business models as financial institutions look to improve profits and increase efficiency, questioning the tremendous maintenance and integration costs of legacy core systems. The flexibility of a component-based approach will be the key to core renewal, supporting unique strategies as FI executives invoke innovation to take a leadership position in the marketplace, the analyst added."-PR