Monday, 05 November 2012 12:02

Oracle banking system gets a SWIFT tick

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Oracle's FLEXCUBE Universal Banking 12.0 is certified to be compliant with the SWIFT interbank payments standards.

Oracle FLEXCUBE Universal Banking 12.0 been granted the SWIFTReady Payments Label 2012, which requires demonstrated compliance with SWIFT standards, messaging services, and connectivity; efficient integration with the SWIFT environment; increased traffic automation; and support for Straight Through Processing (STP).

"Providing full service payments capabilities with enhanced rate of Straight Though Processing combined with strong exception management capability is key for banks globally," said Chet Kamat, CEO and managing director, Oracle Financial Services Software.

"The SWIFTReady Payment Label 2012 shows current and prospective customers that Oracle FLEXCUBE Universal Banking supports the latest SWIFT payments standards and can easily integrate with the SWIFT environment.

"Oracle’s relationship with SWIFT demonstrates our commitment to adhering to industry standards as we continue to develop solutions that help financial services organisations address pressing and ever-changing business challenges," said Mr Kamat.

Oracle FLEXCUBE Universal Banking was designed to provide comprehensive transaction banking capabilities for retail, corporate, and investment banks.

In related news, Oracle announced improvements to FLEXCUBE Mobile Banking, which supports self-service banking via SMS, mobile browser, and mobile applications on smart phones and tablets.


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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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