Oracle announced general availability of the newest release of its flagship core banking application, Oracle FLEXCUBE V14.
Oracle FLEXCUBE V14 marks a significant milestone in Oracle’s componentization strategy. Banks now have the choice of either deploying a pre-configured offering for a comprehensive solution or embarking on a progressive transformation journey, one line of business at a time. Oracle now offers banks more choices than ever before to seamlessly integrate best-in-class functionality to their pre-existing architecture with specialized components for originations, collections, pricing, liquidity management, lending and payments.
As banks look to further enhance customer relationships by bringing seamless integration between business and financial lifecycles, FLEXCUBE V14 provides the advantage of more than 1,000 API’s to jump start initiatives. Banks using FLEXCUBE V14 have a head start in exploring innovative collaborative options to integrate with corporates, third party service providers, vendors, other banks and networks.
“In today’s connected world, banks need to seamlessly embed banking services across the lifecycle of a business as well as in the daily activities of the consumer. Banks need to transform their core banking applications to be able to bring in the intrinsic nimbleness of a modern application necessary to respond to this new paradigm,” said Oracle Financial Services Senior Vice President Chet Kamat. “Oracle FLEXCUBE V14 is mission critical for any bank embarking on the path of digital transformation”
This release of Oracle FLEXCUBE also features new machine learning and blockchain adapters. The new machine learning adapter unlocks intelligence ingrained in the enterprise to drive process optimization, better decisioning and deliver operational and cost benefits. Separately, seamless connectivity between Oracle FLEXCUBE and other banks is made possible through FLEXCUBE V14’s blockchain adapter, which enables more fluid straight-through processing and high fidelity information exchange.
For the past 40 years, Oracle has connected people and businesses to information with the expressed intent of re-imagining what is possible. FLEXCUBE V14 will continue Oracle’s journey toward providing financial institutions across the globe an opportunity to expand their digital capabilities, rethink ways of doing business and modernize their technology in a considered, efficient manner.