Banking Software delivers front-to-back office solution.
Press Release Summary:
As packaged integration between Oracle Siebel CRM and i-flex FLEXCUBE, Oracle Process Integration Pack for Banking Account Origination enables accelerated deployment of front-to-back office solution. Integration pack, developed for financial services industry, also supports key processes that achieve single view of customer, streamline account opening and fulfillment, and facilitate selective service request management.
Original Press Release:
Oracle Introduces Process Integration Pack for Banking Account Origination to Help Banks Accelerate Deployment of Front-to-Back-Office Solution and Boost Return on Investment
Integrated Solution Facilitates Improved Customer Service and Operational Agility
NEW YORK, June 21 -- Oracle (NASDAQ:ORCL) today announced the Oracle Process Integration Pack for Banking Account Origination, specifically developed for the financial services industry. This packaged integration between Oracle's Siebel CRM and i-flex's FLEXCUBE will enable banks to speed deployment of a complete front-to-back-office solution and accelerate their return on investment. The integration pack will also support key processes that make it easier for banks to achieve a single view of the customer, streamline account opening and fulfillment as well as facilitate selective service request management.
The Oracle Process Integration Pack for Banking Account Origination is part of the Oracle Application Integration Architecture, an open, standards-based platform based on Oracle Fusion Middleware SOA Suite for composite business processes across Oracle, third-party and custom applications. The integrated product is intended to seamlessly tie together two best-in-class applications to help banks improve the level and consistency of customer service across all delivery channels.
Using a single Siebel CRM screen, bank agents can see contact details from Siebel CRM and financial account details from FLEXCUBE, allowing staff members to provide informed and prompt service without the delays associated with navigating multiple screens. With a pre-integrated front-to-back-office application, retail banks can achieve instant value from their investment in Siebel CRM and i-flex's FLEXCUBE.
"In today's highly competitive financial services landscape, banks are focused on launching new products to quickly while delivering consistently high levels of customer service across all delivery channels," said Rajesh Hukku, Senior Vice President and General Manager, Oracle Financial Services Global Business Unit. "Oracle's Process Integration Pack for Banking Account Origination addresses these challenges, empowering branch and call center representatives with a single view of the customer that enables more responsive service and rapid account origination and fulfillment, while accelerating technology return on investment."
Using the best-in-class functionality offered by the Oracle Fusion Middleware SOA Suite, the new process integration pack orchestrates Web services to create a seamless cross-application business process for account origination. The integrated process accelerates account origination and allows agents to create new customers and/or accounts quickly by capturing customer and account details, as well as funding, using Siebel CRM. The solution then automatically transfers this information to i-flex's FLEXCUBE for booking. Service request management also becomes more efficient as the Siebel screens automatically update the appropriate information in both Siebel CRM and FLEXCUBE. These pre-built service request business processes include
financial account address changes, statement copy requests and term deposit rollovers -- further expediting customer service.
About i-flex solutions
i-flex(R) solutions (Reuters: IFLX.BO and IFLX.NS), majority owned by Oracle, is a world leader in providing IT solutions to the financial services industry, with more than 750 customers in over 125 countries. Its range of applications software, custom solutions and consulting services enable financial institutions to cut costs, respond rapidly to market needs, enhance customer service levels and mitigate risk.
Together, Oracle and i-flex solutions offer financial services institutions the world's most comprehensive banking applications and technology footprint, alongside the expertise, to address the most complex IT or business requirements. Financial services institutions will be the main beneficiary of this offering and will now enjoy best-in-class solutions that are better synergized.
About Oracle
Oracle (NASDAQ:ORCL) is the world's largest enterprise software company. For more information about Oracle, visit our Web site at http://www.oracle.com/.
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CONTACT: Caroline Yu of Oracle, +1-650-506-8920, caroline.yu@oracle.com or Sunil Robert of i-flex solutions, +1-646-619-5339, sunil.robert@iflexsolutions.com, for Oracle
