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Oracle, i-flex tie up to make banking easier

Written by: Staff

New Delhi, June 21 (UNI) Oracle today announced that it has integrated between Oracle's Siebel CRM and i-flex's FLEXCUBE which will enable banks to speed deployment of a complete front-to-back-office solution and accelerate their return on investment.

The Oracle Process Integration Pack for Banking Account Origination, specifically developed for the financial services industry will also support key processes that make it easier for banks to achieve a single view of the customer, streamline account opening and fulfillment as well as facilitate selective service request management.

The integration pack is part of the Oracle Application Integration Architecture, an open, standards-based platform based on Oracle Fusion Middleware SOA Suite for composite business processes across Oracle, third-party and custom applications.

The integrated product is intended to seamlessly tie together two best-in-class applications to help banks improve the level and consistency of customer service across all delivery channels.

Using a single Siebel CRM screen, bank agents can see contact details from Siebel CRM and financial account details from FLEXCUBE, allowing staff members to provide informed and prompt service without the delays associated with navigating multiple screens.

With a pre-integrated front-to-back-office application, retail banks can achieve instant value from their investment in Siebel CRM and i-flex's FLEXCUBE.

''Oracle's Process Integration Pack for Banking Account Origination addresses these challenges, empowering branch and call center representatives with a single view of the customer that enables more responsive service and rapid account origination and fulfillment, while accelerating technology return on investment,'' Oracle Financial Services Global Business Unit Senior Vice President and General Manager Rajesh Hukku said in a statement.

The new process integration pack orchestrates web services to create a seamless cross-application business process for account origination.

The integrated process accelerates account origination and allows agents to create new customers and/or accounts quickly by capturing customer and account details, as well as funding, using Siebel CRM.

The solution then automatically transfers this information to i-flex's FLEXCUBE for booking. Service request management also becomes more easier as the Siebel screens automatically update the appropriate information in both Siebel CRM and FLEXCUBE.

These pre-built service request business processes include financial account address changes, statement copy requests and term deposit rollovers - further expediting customer service.

i-flex solutions, majority owned by Oracle, is a world leader in providing IT solutions to the financial services industry, with more than 750 customers in over 125 countries.

Its range of applications software, custom solutions and consulting services enable financial institutions to cut costs, respond rapidly to market needs, enhance customer service levels and mitigate risk.


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