FirstBank deploys Oracle Financial Services

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

 

Oracle has announced that the First Bank of Nigeria (FirstBank) has successfully deployed Oracle Financial Services Know Your Customer and Oracle Financial Services Regulatory Reporting Solution. The bank has also upgraded its Oracle Financial Crime and Compliance Management Platform for Financial Services and Oracle Financial Services Anti Money Laundering solutions.      

The deployment of Oracle Financial Services Know Your Customer, which is fully integrated with Oracle Financial Services Anti Money Laundering, also enables automated customer risk profiling, so FirstBank can have a 360-degree view of their customers' activities for easy monitoring purposes.        

S. Ramakrishnan, Group VP & Managing Director, Oracle Financial Services Analytical Applications, said, "It is essential that financial institutions like First Bank of Nigeria take a strategic enterprise-based approach to monitoring financial crime and regulatory reporting - for its own benefit and the customers'. As an industry leader, Oracle continues to advise and help financial institutions to formulate a compliance management strategy with the aid of Oracle Financial Crime and Compliance Management Platform. Not only does it help institutions achieve their regulatory goals, but it also helps to position them positively in the marketplace, like it has for the First Bank of Nigeria."

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