Oracle intros GRC soln

NEW DELHI, INDIA: Oracle has announced the launch of its Governance, Risk, and Compliance (Oracle GRC) for financial services, to address the key GRC issues specific to the financial services industry, which includes banking, insurance and capital markets.

“The increasingly complex risk and compliance environment requires financial services executives to make decisions based on real-time views of enterprise-wide data,” said Rajesh Hukku, senior vice president and general manager, Oracle Financial Services Global Business Unit and chairman of i-flex solutions.

“Oracle’s Governance, Risk, and Compliance solution for Financial Services provides chief compliance, risk and information officers with a holistic view of their governance policies and procedures, as well as clear, consistent oversight of the organizational performance against those policies,” he added.

Oracle GRC for financial services helps financial institutions gauge the effectiveness of governance policies, manage enterprise risk and future-proof compliance spend across Basel II/IA, MiFID, RegNMS, Solvency II, Gramm Leach Bliley Act (GLBA), PATRIOT Act, Anti-Money Laundering (AML), Know Your Customer (KYC), Fraud Prevention and other regulatory mandates, an Oracle statement said.

Oracle GRC for financial services brings together Reveleus’ financial services in Enterprise Risk and Compliance with Mantas’ behavior detection platform supported by Oracle GRC Manager’s comprehensive Business Process Management, Contents and Records Management, Identity and Access Management and GRC Intelligence.