Oracle launches new Flexcube

BANGALORE, INDIA: IT solutions provider Oracle Financial Services Software announced on Thursday the launch of the new version of its product, named Oracle Flexcube Universal Banking.

The launch of Flexcube would help banks significantly reduce costs, accelerate return on investment, said a press release. The product brings together Oracle’s vast experience in supporting banks in more than 125 countries and with a combined asset base in excess of 30 trillion dollars, it added.

With the help of 2,000 plus web services, 800 plus file-based feeds and more than 900 call outs for extensibility, Oracle said, Flexcube customers have the flexibility to set up their operations based on the unique needs of the business while also benefitting from more than 25,000 existing integrations from previous deployments of the application around the world.

Along with this release, Oracle is also launching the “Oracle Flexcube Integration Lab” to provide customers with secure access to an instance of Oracle Flexcube in order to get a first-hand feel for how easy it is to integrate with the application using existing web services.

“Improving their reach and generating fee-based income through enhanced origination and distribution is at the top of the 2010 agenda for banks,” said Joseph John, executive vice president, Banking Products, Oracle Financial Services Software.

Recently Oracle had announced that it has completed the acquisition of Silver Creek Systems, the purveyor of DataLens product data quality software. The acquisition is expected to help Oracle in bolstering its data hub, product lifecycle management, supply chain and ERP applications.