Leading Financial Services Institutions Across EMEA Select Oracle for Greater Flexibility and Support for the Information Driven Enterprise
Financial institutions continue to invest in Oracle for better information and better results
Geneva, Switzerland 20-NOV-2006 08:23 AM As financial services institutions seek to increase their competitiveness and get better information, Oracle continues to be the choice for information technology products and services in the Europe, Middle East & Africa (EMEA) region. During the six months to August 2006, companies such as Raiffeisen Central Bank in Austria, ING Bank and Rabobank in the Netherlands, Natexis Banques Populaires in France, Societe Generale Romania in France, Aegon in Poland, Ingostrakh in Russia, Banque Misr in Egypt, Arab National Bank in Saudi Arabia and Yapi ve Kredi Bankasi A.S in Turkey are endorsing Oracle’s strategy of choice and support.
Flexibility is paramount for financial services organisations dealing with complex global operations and facing increased regulatory pressures. The EU’s Marketing Financial Instruments Directive (MiFID) and the Single Euro Payments Area (SEPA) are the latest regulations driving organisations to review their approach to compliance. These regulations will enhance transparency and streamline processing within the single financial services market in Europe, and present an opportunity for financial services institutions to improve operational efficiency.
Oracle helps financial services organisations create an information-driven enterprise by synchronizing data centrally from all systems, including third-party systems, so financial information is consistently collected, calculated, analysed, and stored, ensuring data integrity while reducing costs. Oracle’s family of products which include core financial services applications, Oracle® E-Business Suite, PeopleSoft Enterprise, JD Edwards EnterpriseOne, Siebel applications, Oracle Fusion Middleware and Oracle Database 10g enables organisations to get better information and better results. 10 out of 10 of the top commercial and savings banks in the world, and 19 of the top 20 Fortune 500 insurance companies run Oracle applications.
“Oracle’s solutions improve financial services customers’ visibility into business, financial, and compliance performance across the enterprise, while increasing operational efficiency,” said Harry Stehrenberger, Vice President, Financial Services, Oracle EMEA. “Oracle helps create a platform that accelerates financial processes, enforces compliance, and frees up resources for business growth.”
Czech National Bank
The Czech National Bank has developed a new CERTIS system to manage bank-to-bank payments in the Czech Republic using Oracle Database 10g, Oracle Application Server and Oracle’s development tools. The new system has significantly increased the speed of entry processing from approximately 400,000 items per hour on the original system to up to one million entries per hour. At the same time, the maximum number of items processed on one accounting day has increased from 5 million to 8 million. The deployment of this project has enabled the Czech National Bank to achieve a significant reduction in investment and operating expenses.
Standard Life
Standard Life, a leading UK provider of insurance, savings, investments, and pension products, with more than 7 million customers worldwide, has saved US$174,000 (GBP 100,000) by using Oracle Application Express to build a customised, web-enabled contact and diary management solution. The solution gives Standard Life a consolidated, up-to-date view of the engagements carried out by its key people. “Oracle Application Express lets us consolidate previously fragmented content management information into a single enterprise-wide documents and allow multi-user access without sacrificing centralised control,” said Russell Irwin, Head of Group Technical Direction, Standard Life.
Financial services institutions that selected Oracle in the six months to end August 2006 include:
BA-CA (Austria), Sparinvest KAG (Austria), Bulbank (Bulgaria), United Bulgarian Bank (Bulgaria), First Investment Bank (Bulgaria), Banque Misr (Egypt), Société Générale (France), Clearstream (Germany), GaVi mbH (Germany), Földhitel- és Jelzálogbank FHB (Hungary), Erste Bank (Hungary), Intesatrad (Italy), Assicurazioni Generali Finance (Italy), Zamil Industrial Investment (Middle East), DAS Rechtsbijstand (Netherlands), Sparebank 1 (Norway), Gjensidige (Norway), Banca Comerciala Romana - BCR (Romania), Prime Gate Technology (Saudi Arabia), BRD Societe Generale (Romania), SEB (Sweden), Vaudoise Assurance (Switzerland), Kocbank -Yapi Kresi (Turkey), Dubai Islamic Bank (UAE), Portman Building Society (UK), FirstGroup Plc (UK), Raiffeisen Central Bank (Austria), ING Bank (Netherlands), Rabobank (Netherlands), Natexis Banques Populaires (France), Kazakhstan Treasury (Kazakhstan), Aegon (Poland), Societe Generale Romania (France), Tadawul (Saudi), Arab National Bank (Saudi) and Yapi ve Kredi Bankasi A.S (Turkey).
Filed under: Oracle
