Oracle bullish on banking solutions mkt in Asia Pacific

New Delhi, Nov 26 (UNI) Enterprise software solutions provider Oracle is bullish on the banking solutions market in the Asia Pacific region, due to rising demand for innovative customer service, complex global operations and increased compliance pressures.

''Banking is one of the fast-growing industries for Oracle in Asia Pacific. The growth is fueled by the demands from mature financial service markets like Australia, Hong Kong, Korea and Singapore as well as the high-growth economies like China, India and South East Asian countries,'' said Oracle Asia Pacific (Service Industries) Vice President Ash Khalek.

Industry challenges are driving banks to rethink their long-term corporate IT strategy. The country is seeing a continuous upswing of technology spending in the banking sector, he added.

The strong GDP rate and increased cross-border trade activities across Asia Pacific countries also provide banks with new customer opportunities and result in increased demand for innovative customer service, the Vice President said.

Banking is a strategic industry for Oracle with 17 of the top 20 banks globally already running Oracle applications, he added.

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