February 17, 2009

Redwood Shores, Calif.-based Oracle introduced the latest addition to financial services offerings: Flexcube Direct Banking 5.0, an Internet and mobile banking application designed to address the direct banking needs of financial institutions.

Direct Banking 5.0 was created to integrate host systems across the bank and can cater to the needs of retail, commercial and investment banking operations, according to Oracle. The upgrade can also support multi-country, multi-jurisdiction and multi-business needs of financial institutions. It is designed to bring localization for each entity including parameterization for local currency, language, time zones, business calendars, business functionality and the branding of user interfaces. Its multiple entity platform helps financial institutions reduce costs through more efficient utilization of infrastructure and helps provide greater operational and administrative control.

Direct Banking 5.0 enables banks to deliver full transactional services on the mobile phone, including support for browser-based and Java-based application services. With this new release, banks can continue to use Oracle Flexcube Direct Banking's SMS based transactional services as well.

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