Banks Can Speed Access to Capital with New Oracle Trade and Supply Chain Finance Cloud Services
Automation and streamlined operations enable greater speed, transparency, and value-added services to corporate clients
By modernizing these corporate banking functions, banks can accelerate underwriting processes, improve regulatory compliance management, reduce physical documentation, and more effectively prevent fraud. In addition, the new digital self-service capabilities provide corporate clients the ability to initiate transactions and get real-time updates, including the ability to transparently track the progress of their finance requests, manage collateral, and get a real-time view of limits utilized, leading to a better customer experience. Corporates can also digitally onboard their counterparties as part of a tailored supply chain finance program with automated Know Your Customer (KYC) checks. This helps inject liquidity across the value chain for more financial flexibility and to enable banks to offer add-on services to the trade ecosystem.
"Trade finance and supply chain finance demand a resilient and agile technology foundation, one that can adapt to the inherent volatility of global commerce," said Sovan Shatpathy, senior vice president, product management and development,
The new solutions are part of the broader Oracle Banking Cloud Services portfolio, which includes Oracle Digital Banking Experience, Banking APIs, Originations, Accounts, Cash Management, Enterprise Limits and Collateral Management, Payments and Retail cloud services.
Addressing the trade finance and supply chain finance gap
The
Oracle Banking Trade Finance
Oracle Banking Supply Chain Finance
Each cloud-native application in the componentized, and composable Oracle Banking Cloud Services portfolio helps banks modernize with less risk and deliver faster time-to-value. Services can run standalone or integrate with existing systems, providing provisioning and availability in just minutes. They also feature automated patching and reduced disaster-recovery switchover times that can lower IT costs and burden. The services are built on the security, performance and scalability of Oracle Cloud Infrastructure.
To learn more, visit: oracle.com/financial-services/banking/cloud-services
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SOURCE Oracle