Oracle has launched its U.S. based Oracle Financial Services Cloud, a ‘modern’ 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. This new community cloud offering would help financial services companies address their IT security, privacy, and compliance needs and align with regulatory requirements.
Financial services companies have very specific needs related to IT security, privacy, compliance, and regulatory requirements. At the same time, these enterprises need to maintain back-office processes, streamline operations, and work efficiently to stay competitive. To facilitate the adoption of cloud technologies and address these common industry requirements and challenges within the financial services industry, Oracle has unveiled its Oracle Financial Services Cloud.
Oracle Financial Services Cloud offers data privacy, compliance services, and enterprise-level support, with in-region hosting included, alignment with FINRA rules, and advanced security to provide data privacy and protection.
HCM Cloud, ERP Cloud
Part of the Oracle Industry Applications Cloud portfolio, Oracle Financial Services Cloud supports the unique requirements of financial services companies for human capital management (HCM Cloud), enterprise resource planning (ERP Cloud), and customer experience in the cloud.
“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 capabilities,” said Thomas Kurian, president, Oracle Product Development. “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.”