Banks are struggling to embrace and keep pace with digital disruption driven by changing customer expectations and a new generation of fintechs and other brands flooding the financial services market. Oracle is helping banks to deliver on their digital strategies including launch new digital brands, digitize processes, modernize digital experiences and launch new innovative digital capability, mobile payments and digital wallets. To help banks become more digitally focused, Oracle announced the availability of Oracle Banking Digital Experience, a new solution that empowers firms to rapidly deliver end-to-end digital experiences while leveraging their existing IT infrastructure investments including their core banking systems.
“Banks that honestly and realistically assess their digital maturity, and create a digital strategy based on such an assessment, will concentrate on developing capabilities that facilitate digital services, rather than automated services. These capabilities require that banks move away from their traditional focus on simply delivering automated transactions toward offering a comprehensive digital customer experience that may include multiple transactions or services,” according to Stessa Cohen, Research Director Gartner.
“The banking landscape is changing very rapidly. FinTechs are disrupting the market by delivering services much faster and with less friction than traditional banks. It is more important than ever for banks to expand their digital capabilities by modernizing their business architecture and technology infrastructure. Oracle Banking Digital Experience delivers the capabilities that banks require to execute their unique digital strategies to enhance customer engagement and experience,” said Sonny Singh, Senior Vice President, General Manager, Oracle Financial Services.
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