ORACLE NAMED A LEADER IN 2022 GARTNER® MAGIC QUADRANT™ FOR GLOBAL RETAIL CORE BANKING

Oracle has been named a Leader in the 2022 Gartner® Magic Quadrant™ for Global Retail Core Banking. “The report assesses core banking vendors based on the multicurrency products they offer for a bank’s financial transaction management in retail banking.” The report evaluated a total of five vendors and narrowed its criteria from previous years.

“Retail banks are seeking digital-first architecture and cloud readiness for their core to innovate at speed and quickly scale as they grow,” said Vikram Gupta, group vice president, Banking Engineering, Oracle Financial Services. “Oracle Banking helps banks jump-start digital transformation so they can stay relevant, competitive, and compliant in the fast-evolving banking industry.

“We believe, this recognition by Gartner underscores our continued dedication to provide our customers with a path to accelerate digitization and prepare for what’s next in banking.”

Available on the secure, scalable Oracle Cloud Infrastructure or on premise, Oracle Banking Suite offers a complete retail banking solution suite that provides next-evolution capabilities from a modern core to comprehensive business processes to an intuitive and engaging digital experience. Oracle helps banks accelerate time-to-market, improve business agility, redefine customer service and engagement, and lower operating costs.

An optimal mix of persona-driven digital self-service and assisted engagement capabilities, AI and automation-powered product and core operations coupled with an architecture that is anchored on microservices equips banks for what’s next in a fast-evolving retail banking industry. These offerings continue to make Oracle a top core banking platform provider.

Here are some of the key Oracle Banking highlights:

Lifecycle engagement: Fast, frictionless, and engaging experiences across a range of products like deposits, lending, and micro-verticals like Islamic banking, microfinance, and financial inclusion; centralized product management to accelerate time-to-market and efficiently scale offerings across the banking enterprise; and tailor products, offerings and pricing for customers and markets.

Business agility: Predefined and configurable workflows to quickly roll out, realign, or tweak processes in tune to evolving requirements and opportunities; extensible business logic to easily adapt to diverse customer needs and business and regulatory requirements; and comprehensive insights that enhance operational decision-making at a customer, branch, business, or enterprise level.

Enhanced connectivity: A portfolio of externalized business services to build innovative products and services and extend distribution and offerings; 1,800+ open APIs to help simplify and speed up secure integration with third-party firms, value chains, and ecosystems; an Integration hub to streamline and simplify integration with other systems within the bank; and a standards-based open architecture for simplified integration.

Optimized operations: Flexibility with multi-entity, multi-tenancy, multi-country operations across the banking enterprise and geographies; a modern architecture anchored on microservices and the cloud to efficiently expand, diversify, and scale business lines and operations; high performance 24x7 operations with zero downtime; and out-of-the-box compliance and localizations to streamline adherence to global, regional, or country-specific regulations and requirements.