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Oracle Announces New Apps for Financial Services Sector

09/15/2009

Demonstrating its commitment to help financial services institutions grow profitably and optimize risk-adjusted performance, Oracle announced an integrated suite of financial services analytical applications for enterprise performance management (EPM).



ebizQ received the following:

Now more than ever, financial institutions and regulators are focused on the need to measure and meet performance objectives adjusted for risk, price products to reflect their true risk, and better understand how performance is impacted by threats to liquidity and capital adequacy.

The Oracle Financial Services analytical applications EPM suite builds on Oracle's experience in supporting many of the world's most demanding, high-volume and high performance financial institutions over the last decade. It is based on the merged capabilities of Oracle Financial Services Applications (OFSA), Oracle's Hyperion, PeopleSoft EPM, and Oracle Reveleus applications. Oracle worked with a 17-member customer advisory board on every step of the design process.

The applications are all built on the same financial services data model and applications architecture as the Oracle Reveleus suite of enterprise risk management applications, making it easier for customers to add additional applications with only marginal incremental investments.

With the release, Oracle seeks to help financial institutions seeking to actively incorporate risk into decision-making, and define and manage plans crossing risk and performance management using best practice processes and techniques.

Components of the new Oracle Financial Services Analytical Applications for EPM include Oracle Financial Services Profitability Management, which helps financial institutions to calculate the profitability of products, channels, segments, and individual customer relationships on a risk-adjusted basis by enabling them to perform complex allocations of operating costs, net interest, capital and other components to the underlying transactions and balances.

The suite also incorporates Oracle Financial Services Funds Transfer Pricing - enables banks to determine the account level spread earned on assets and liabilities, and the spread earned as a result of interest rate exposure. The application supports a comprehensive range of transfer pricing methodologies that are based on industry best practices in order to help calculate accurate results at the lowest available level of detail.

Another component, Oracle Financial Services Pricing Management, Transfer Pricing Component, provides real-time transfer rates to support pricing loan transactions that reflect immediate market conditions. Its risk-based pricing methodologies use the transfer pricing methodology and prepayment assumptions found in Oracle Financial Services Funds Transfer Pricing, and include all elements of the profit and loss for an account.

Oracle Financial Services Asset Liability Management is intended to help financial services institutions manage and monitor interest rate risk, liquidity risk, foreign currency risk and earnings risk. The application models every loan, deposit, investment, and portfolio individually, to help institutions better understand the risks they have assumed and their sensitivity to economic conditions.

"In today's environment, it is critical that financial institutions be able to perform a cross-functional analysis of the traditional areas of management reporting that includes both risk and performance measures," said Don Russo, Senior Vice President, Oracle Financial Services Global Business Unit. "The Oracle Financial Services analytical applications EPM suite enables institutions to break down the organizational silos that exist today between the risk and finance functions in order to help maximize profitability and achieve management excellence."

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