First Bank of Nigeria Deploys Oracle Financial Services to Combat Financial Crime and Meet Regulatory Obligations

| April 24, 2012

REDWOOD SHORES, CA —
Oracle (NASDAQ: ORCL)

News Facts

  • Oracle currently announced that a First Bank of Nigeria (FirstBank), a oldest banking establishment in Nigeria, has successfully deployed Oracle Financial Services Know Your Customer and Oracle Financial Services Regulatory Reporting Solution. The bank has also upgraded a Oracle Financial Crime and Compliance Management Platform for Financial Services and Oracle Financial Services Anti Money Laundering solutions.
  • FirstBank is a initial in a segment to muster an Oracle Financial Services Know Your Customer and due industry program, that enables a bank to accommodate severe regulatory and stating obligations.
  • The integrated components of Oracle Financial Services Know Your Customer, Oracle Financial Services Anti Money Laundering, and Oracle Financial Services Regulatory Reporting Solution, as partial of a altogether Oracle Financial Crime and Compliance Management Platform, capacitate a bank to accomplish a risk-based transaction monitoring program, to guard questionable and fake activities and assistance to fight financial crime.
  • The deployment of Oracle Financial Services Know Your Customer, that is entirely integrated with Oracle Financial Services Anti Money Laundering, also enables programmed patron risk profiling, so FirstBank can have a 360-degree perspective of their customers’ activities for easy monitoring purposes.
  • With Oracle Financial Services Regulatory Reporting Solution, FirstBank is a initial bank in a segment to successfully exercise an programmed complement for a origination and filing of Suspicious Transaction Report.
  • By leveraging a singular height to accommodate all anti-money laundering, know-your-customer and regulatory stating needs, FirstBank will be means to significantly revoke operational costs and conduct day-to-day operations some-more efficiently.
  • FirstBank initial deployed Oracle Financial Services Anti Money Laundering in 2007 and a compensation with this investment led to it selecting Oracle to concede it to accommodate a compliancy and government objectives.

Supporting Quotes

Comments are closed.

«
»