Oracle Financial Services, a global leader in providing integrated finance, risk, and compliance solutions, has introduced a new product.
The Oracle Financial Services Crime and Compliance Management Investigation Hub Cloud Service is poised to transform how banks investigate and resolve financial crime cases, leveraging advanced AI to improve speed and accuracy.
The new product, Investigation Hub, was developed in response to the evolving sophistication of financial criminals who exploit traditional system vulnerabilities. This innovative AI-powered case management solution is designed to significantly reduce manual tasks, dismantle data silos, and enhance the insights available to investigators.
Oracle Financial Services specializes in delivering comprehensive solutions that cater to the intricate needs of the financial sector. The company’s deep expertise in finance, risk management, and compliance positions it as a trusted provider for global banks and financial institutions.
Investigation Hub redefines the investigator experience by integrating graph analytics and embedded AI. This integration automates tasks, streamlines workflows, and equips investigators with data-driven insights. As a result, investigators can focus more on analysis rather than mundane data gathering, boosting both the speed and quality of investigations.
The product offers several key benefits. It reduces investigation touch time by up to 70% by automating manual tasks like data gathering and SAR filing. This allows investigators to concentrate on higher-value analytical and decision-making processes. The solution is also highly configurable, meeting diverse institutional needs with a user-friendly interface tailored to various investigator roles.
Additional features of Investigation Hub include flexibility, enhanced performance, and detailed reporting. It is built on the robust, secure Oracle Cloud Infrastructure (OCI) and integrates seamlessly with other Oracle financial crime and compliance management solutions as well as third-party data providers.
Investigation Hub is a part of Oracle’s Financial Crime and Compliance Management (FCCM) portfolio, which consists of a suite of anti-money laundering (AML) and FCCM SaaS applications tailored over 25 years to meet the stringent requirements of global financial entities.
“Bad actors are becoming increasingly sophisticated, leveraging advanced technologies, and exploiting vulnerabilities in traditional systems,” Oracle Financial Services senior vice president, finance, risk, and compliance product development, Jason Wynne said. “To stay ahead of these threats, financial institutions need flexible solutions that can help them detect, investigate, and prevent financial crime more effectively. Investigation Hub represents a significant leap forward in case management to enable tier-one institutions and smaller banks alike to conduct faster, more accurate, and cost-effective investigations by providing context to the data. With Investigation Hub, data is transformed into an actionable story.”
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