Financial institutions can now access crucial information across the entire organisation
Oracle has launched Financial Services Data Warehouse, a new approach to data modeling and data warehousing, which is pre build for rapid deployment, purpose-built for end-use decision making and designed to specifically address the complex and cross-functional analytical challenges of global financial institutions.
The new financial services data warehouse offers financial institutions the ability to access crucial information across the entire organisation, with insight into the users, finance, compliance and risk-related data and activities needed to address comprehensive reporting requirements.
Oracle Financial Services users can deploy data model designed for simplified extract, transform and load (ETL), improved load times and improved query response times, the company said.
Control and manage analytical data with a unified infrastructure that runs analytical applications and complex reporting in the warehouse to handle the high-volume, cross-functional computations required to meet regulatory mandates for liquidity and stress testing.
The new data warehouse is expected to address accuracy and consistency issues with contextual data-quality checks and automate the removal of inconsistencies across ledgers and books with centralised reconciliation capabilities.
User can access a single, conformed and pre-built, "self-service" reporting and business intelligence environment that supports cross-functional analytics by design and extensible to meet future demands, the company said.
Oracle Financial Services Analytical Applications group vice president and general manager S. Ramakrishnan said next generation data warehouse initiatives in financial services demand a new approach that starts with the end use in mind.
"The focus now shifts from the indiscriminate, tedious capture and stewardship of all data, to the speed and specific context in which comprehensive decisions must now be made," Ramakrishna said.