13th April 2018

New Oracle banking APIs help banks build faster, better services

Oracle Financial Services has announced the general availability of a new solution Oracle Banking APIs targeted at helping banks embarking on an Open Banking journey. Banks can take advantage of the ready to consume APIs to accelerate their initiatives to tap new opportunities presented by open banking and regulations like PSD2.

Oracle Banking APIs enable banks to build seamless partnerships with third-party technology organisations, easily integrate with corporate client applications and reduce the time between API ideation and delivery.

Key features of Oracle Banking APIs:
• More than 1,500 APIs in the sphere of payments, retail and corporate banking including specialised functionalities such as multi-product originations, retail customer financial insights, bulk payments, and trade finance.
• Dynamic customisable APIs that understand business logic with intelligent pre- and post-processing capabilities.
• Centralised change management for faster-time-to-market.
• Ease of integration with any existing banking solutions.

Banks that use Oracle Banking APIs can take advantage of pre-integration with existing Oracle core banking systems, Oracle Banking Digital Experience, Oracle Identity Cloud Service and Oracle API Platform Cloud Service. The solution is also capable of working with any core banking or online banking solution, identity management and API gateway solution.

“The early mover advantage is critical for success for banks in the open banking era,” said Chet Kamat, Senior Vice President, Oracle Financial Services. “Oracle Banking APIs is designed to bring acceleration, and help banks gain competitive advantage in the market.”