Oracle launches community cloud for financial services firms

• Helps FSIs address security, privacy, and compliance needs
• Part of the Oracle Industry Applications Cloud portfolio

ORACLE Corporation has unveiled its Oracle Financial Services Cloud, a community cloud offering dedicated to the financial services industry including banks, insurance and investment companies, and securities institutions, as well as other regulated industry enterprises.
 
It provides financial services companies with a secure move to the cloud while adhering to security, privacy, and compliance needs, Oracle said in a statement.
 
Oracle Financial Services Cloud offers data privacy, compliance services, enterprise-level support, and low organisational risk, including in-region hosting and advanced security to provide data privacy and protection, the company claimed.
 
Oracle product development president Thomas Kurian (pic) said that today’s savvy financial services companies are looking to migrate their applications to the cloud to take advantage of modern technologies like social and mobile.
 
“Designed to address the unique security concerns of the financial services industry, Oracle Financial Services Cloud is a dedicated community cloud with world-class security to empower financial services companies to adopt cloud applications.
 
“By addressing the industry’s common cloud concerns and challenges around security, privacy, and compliance, Oracle has made it simpler for great institutions to modernise their key IT solutions,” he claimed.
 
Part of the Oracle Industry Applications Cloud portfolio, Oracle Financial Services Cloud supports the unique requirements of financial services companies for human capital management, enterprise resource planning, and customer experience in the cloud.
 
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