- NPSO confirms the representation of its newly-created Participant Advisory Council
- FCA proposes actions to improve competition in the investment platform market
- Equifax research reveals a lack of awareness of banking options among Brits
- Nationwide puts weight behind major campaign to improve financial capability-Open Banking for Good aims to close financial capability gap in the UK
- ESMA issues first set of technical standards under the Securitisation Regulation(SR) containing both draft regulatory and implementing standards (RTS/ITS)
- Scope Ratings says there are limited impacts from the ECB’s latest bad-loan initiative
- IPC wins the highest rankings by the financial markets industry in the 2018 Waters Rankings expired
- JP Morgan reports record results in second quarter expired
- Metro Bank launches developer portal expired
- Arrow Global working with Xactium platform expired
- Bezant a key sponsor at the Beyond Blocks Summit in Seoul expired
- Hyperwallet to facilitate mass payment distribution for Wordapp.com expired
11th August 2017
Oracle releases banking payments offering
Oracle has released its Oracle Banking Payments solution. The offering was built from the ground up leveraging ISO 20022, and is designed to help banks compartmentalise payments messaging, message transformation, and payment processing, while providing high fidelity insight.
Using the Oracle Banking Payments API, banks can also innovate within the Internet of Payments, collaboration with 3rd parties or curate new business models in collaboration with Fintechs. Digitisation has brought banks to a payments arena tipping point where customers demand constant availability for real-time, frictionless payments.
Grappling with increasing levels of operational complexities, banks have increasingly adopted siloed structures and multiple messaging standards leading to a disharmonised payment landscape. At the same time, new players are challenging incumbents by offering personalized products, exemplary efficiency and security. To remain competitive, financial institutions need to adopt a transformational approach that addresses the changing dynamics of the payments marketplace.
“As a core banking vendor we have been supporting payments for over two decades. We run payments for over 500 banks across 140 countries. In many instances our applications cater to a significant proportion of a country or a jurisdiction’s volumes,” said Chet Kamat, senior vice president, Oracle Financial Services.
“With Oracle Banking Payments, financial institutions can improve straight through processing, support real-time and immediate payment settlement and reduce time-to-market while driving innovation.”