Oracle has announced the availability of Oracle Banking Digital Experience, a new solution that aims to help banks deliver end-to-end digital experiences while leveraging their existing IT infrastructure investments including their core banking systems.
The new product is built on open standards architecture and features capabilities around customer and product acquisitions, business services, including payments innovation and customer financial insight. It provides more than 250 business services out of the box, including digital account and loan origination, digital wallets and mobile payments.
All business services in the new offering can be translated into digital experiences by utilizing their RESTful interfaces. This allows banks to leverage the services as an API using their existing user interfaces. The services cover areas such as deposit and loan origination and servicing, wealth management, mobile payments, digital wallets, and merchant payments. The extensible platform is expected to provide a flexible environment for banks to further innovate.
The offering also provides HTML 5, CSS3, responsive, single page application user experiences built using an open source based user experience framework. This approach gives banks the flexibility to create offerings using knockout.js, jQuery, Sass (Syntactically Awesome Style Sheets), and more.
“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.
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