Brief

Oracle sees growth for risk management application

Oracle has announced that the State Bank of India, UTI Bank and Development Credit Bank have successfully implemented Oracle Financial Services Applications (OFSA), its vertical-specific, risk management application for companies in the banking and financial services space.

“Today we are challenged by competitive market pressures as well as increasing demands from customers. OFSA allows us to adhere to standard fund transfer pricing, control budgeting and planning. The application also allows us to look at customer profitability while ensuring efficient asset and liability management,” said V K Ramani, president of IT, UTI Bank.

Ramani said that the application allows for the consolidation and reconciliation of financial data to ensure the accuracy and reliability of the data on which analyses are based.