Oracle Financial Services Investigation Hub cuts
investigator time previously wasted on collecting data while
delivering auto-generated narratives and intelligence needed to
resolve cases up to 70% faster
AUSTIN,
Texas, Oct. 7, 2024 /PRNewswire/ -- Oracle
Financial Services Summit, New
York – Enabling banks to investigate
and resolve financial crime cases faster, Oracle today introduced
the Oracle Financial Services Crime and Compliance Management
Investigation Hub Cloud Service. The new AI-powered case management
solution delivers a modern user experience that reduces manual
tasks, removes data silos, and elevates the insights investigators
need to focus their time on analysis and combating financial
crime.
"Bad actors are becoming increasingly sophisticated, leveraging
advanced technologies, and exploiting vulnerabilities in
traditional systems," said Jason
Wynne, senior vice president, finance, risk, and compliance
product development, Oracle Financial Services. "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."
Investigation Hub leverages integrated graph analytics and
embedded AI to automate tasks, streamline workflows, and provide
investigators with data-driven insights. The result is enhanced
investigator performance, improved task management, more detailed
reporting, and consistent decision-making across a diverse team of
investigators. Benefits of the solution include:
- A simplified investigator experience: The solution
reduces investigation touch time by up to 70 percent by automating
manual tasks such as data gathering and SAR filing to streamline
workflows and provide a unified view of all case data. This allows
investigators to focus on higher-value tasks such as analysis and
decision-making.
- Data-driven storytelling: A typical investigation
process involves an investigator spending 80 percent of their time
gathering data and 20 percent of their time on analysis. With
Investigation Hub, investigators can now spend most of their time
analyzing rich insights, graph analysis, and auto-generated
narratives derived from key data points. This significantly
improves the speed and accuracy of investigations conducted.
- Flexibility and configurability: The solution is
highly configurable to meet the specific needs of different
institutions and investigation teams, with a user-friendly
interface that can be tailored to different roles and
responsibilities. This allows institutions to create an
investigator-centric experience that maximizes efficiency and
effectiveness.
Built on the high performance, flexibility, and security of
Oracle Cloud Infrastructure (OCI), Investigation Hub integrates
seamlessly with other Oracle Financial Crime and Compliance
Management Cloud Service (FCCM) solutions and third-party data
providers to provide a comprehensive view of customer activity and
risk. The solution will be regularly updated with the latest AI and
machine learning capabilities from OCI Generative AI service to
help address regulatory changes so institutions can use the most
advanced tools and capabilities while helping to support
compliance.
Investigation Hub is part of the Oracle FCCM portfolio, an
end-to-end suite of financial crime and anti-money laundering (AML)
SaaS applications. These solutions have been tailored to meet the
specific AML and FCCM requirements for global banks and financial
institutions for more than 25 years.
For more information about the Oracle Financial Services and our
new Investigation Hub service visit:
https://www.oracle.com/a/ocom/docs/industries/financial-services/fs-investigation-hub-cloud-service-ds.pdf.
About Oracle Financial Services
Oracle Financial Services provides solutions for retail banking,
corporate banking, payments, asset management, life insurance,
annuities, and healthcare payers. With our comprehensive set of
integrated digital and data platforms, banks and insurers are
empowered to deliver next-generation financial services. We enable
customer-centric transformation, support collaborative innovation,
and drive efficiency. Our data and analytical platforms help
financial institutions drive customer insight, integrate risk and
finance, fight financial crime, and comply with regulations. To
learn more, visit our website at
https://www.oracle.com/financial-services.
About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please visit
us at www.oracle.com.
Trademarks
Oracle, Java, MySQL and NetSuite are
registered trademarks of Oracle Corporation. NetSuite was the first
cloud company—ushering in the new era of cloud computing.
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SOURCE Oracle
