Oracle has introduced a pre-built business intelligence offering that allows financial services institutions to manage interest rate risk.
It said Oracle Financial Services Asset Liability Management Analytics provides an integrated view of balance-sheet risks and returns. Oracle said it is built on the standards-based Oracle Business Intelligence Suite Enterprise Edition Plus (BI Suite EE Plus), and will enable organizations reduce total IT cost and complexity by removing the need for custom interfaces between Oracle Risk Manager and Oracle BI Suite EE Plus.
This release demonstrates the company’s plans to tap into the growing financial services market. According to Wall Street analysts, IT spending across all financial services sectors globally is expected to grow from $361bn in 2005 to $450bn in 2010.