Oracle Wins Two Categories In The 5th Asian Banker Technology Implementation Awards

Oracle has bagged two awards at the Asian Banker Technology Implementation Awards 2011 held recently in Hong Kong.

Oracle bagged the ‘Best Data and Analytics Project Award’ for the deployment of ‘Oracle Financial Services Asset Liability Management’ and ‘Oracle Hyperion Planning’ at IDBI Bank. This solution enabled IDBI Bank to measure and analyse interest and liquidity risks, integrate its performance framework, conduct faster and robust scenario analysis, and produce earnings reports at a faster time than before. Oracle Consulting played a crucial role in the entire implementation.

Oracle also won the ‘Best Corporate Payments Implementation Award’ using Oracle Financial Services’ straight-through-processing (STP) payments engine for HDFC Bank’s corporate transaction clients to facilitate seamless and instant processing of Real Time Gross Settlement (RTGS) payment instructions. This allowed HDFC Bank to automate processing transactions, giving the bank a competitive advantage with shorter turn-around time for processing and less dependency on off-line modes for payment status update and related customer query handling.

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“It is an honour to receive this recognition,” said Sandeep Mathur, Managing Director, Oracle India. “Banks around the world and in India rely on Oracle to help them streamline business processes, meet increasing regulatory compliance demands, and improve cost efficiency, while providing greater value to customers."