In the past, Oracle has been a company that has been known for its software and hardware systems. Oracle Flexcube is one of Oracle’s newest additions to their lineup of products, which aims to provide a comprehensive platform for financial enterprises.
In this article, we will discuss what Oracle Flexcube is and what it offers. We will also talk about how Oracle Flexcube universal banking can help your business grow!
What is Oracle Flexcube?
Oracle Flexcube is software that is used in Oracle’s Universal Banking Platform. It is a solution that Oracle developed with customer demands and requirements in mind, which means Oracle Flexcube can be adapted to your business needs.
Features of Oracle Flexcube
If you are wondering what features Oracle Flexcube includes, here are some examples:
• Online Booking
The online booking feature of Flexcube is perfect for those banks or financial institutions looking to increase their product sales. Oracle Flexcube offers an online portal where customers can make requests and book products, all in one place.
• User-friendly
Oracle Flexcube is designed to be user-friendly for both experienced users and individuals who may not have had much experience with Oracle software products in the past. That means no matter what prior Oracle knowledge or skills your employees possess, Oracle Flexcube will work seamlessly to help them interact with other financial management tools more efficiently within your business!
• Customer Management
The customer management feature of Oracle Flexcube allows you to store details about your clients, including personal information like address and email addresses and identification documents such as passport images.
This way, if a client has any questions, they will quickly contact the appropriate person within your business! Oracle Flexcube also includes tools that allow you to manage the life cycle of your customers, meaning you can view their transactions and get an overview of how often they are currently using Oracle Flexcube.
• Multi-currency
In Oracle Flexcube, you can manage multiple currencies!
You can set the rates for your different currencies, and Oracle Flexcube will automatically calculate the best value.
If a client pays in a currency other than your business, you can instantly change it into your selected currency using Oracle Flex Cube’s Multi-Currency feature!
• Multi-branch
Oracle Flexcube allows you to create branches within one system so that people who work across various locations do not constantly switch between screens when completing transactions or viewing information about clients. This way, they only need to access Oracle Flexcube once, no matter how many branch offices they visit throughout their day! Another advantage of this functionality is that Oracle Flexcube can be used to automatically update all branches with the latest information, allowing you to remain up-to-date across your entire enterprise
• Securities management
Oracle Flexcube has an advanced securities management module capable of managing a wide range of securities. The system was designed with the specific intention to collect information from different brokers and exchanges and all other types of financial instruments. Oracle Flexcube has been developed in such a way that it can be easily adapted for use by any broker or exchange
• Risk Management
Risk management is a vital part of Oracle Flexcube. You can use it to track and manage all types of risk, from market risks through to counterparty credit risk
• Transaction Management
Transaction management works to track and manage all types of transactions. Oracle Flexcube has been developed with the specific intention of collecting information from different brokers and exchanges
• Web-based platform
Flexcube can easily integrate with any company website or portal, allowing you to provide your customers with the latest information on their accounts via an intuitive web interface.
• Supports desktop devices
Flexcube can easily integrate with Oracle E-Business Suite and Oracle Business Intelligence to provide your customers with the latest information on their accounts via an intuitive desktop interface
• Windows OS
Flexcube is a Windows-based application that you can install on either bare metal or virtual machines. Oracle Flexcube has been developed with the specific intention of supporting desktop devices and internet usage to provide your customers with an intuitive interface
Pros of Flexcube
• Parameterized
The parameterization of Oracle Flexcube means that users are given a vast range of options for tailoring their views. For example, they can view only clients in certain countries or display transactions for specific products! This is particularly useful because Oracle Flexcube has over 500 pre-defined product lines meaning there will always be something relevant.
If any changes need making, you can quickly do this by simply adjusting one value within Oracle’s backend system rather than changing every instance where these values appear manually!
• Flexible product setup
Flexcube helps you to save time by streamlining the different stages of the product setup. Oracle Flexcube allows you to create your products in minutes without using programming languages or writing complex rules!
• Multiple modules available
With Oracle Flexcube, you get all these features plus a host more: Risk Management, Securities Management, Transaction Management, Customer Management, etc. Oracle Financial Services Institutional Clients Group (FCSICG) are dedicated Oracle Partners. They have extensive experience delivering Oracle Flexcube, Oracle Financial Services Data Management Platform (OFSDMP), and Oracle Banking Payments solutions.
• User-friendly
Flexcube is designed to help you keep all your financial records in one place. Oracle Flexcube can be implemented for a specific business or an entire banking group with integration to the Oracle Universal Banking platform available through Oracle’s Developer Cloud Service (DCS).
• High-end adaptability
Oracle’s flexible platform makes it easy for customers to view their accounts through various channels such as via desktop devices or mobile devices. Users can also access real-time account information from wherever they might be because Oracle has an offline mode meaning no internet connection is required. Furthermore, Oracle’s release provides extensive.
Cons of Flexcube
• Workflow isn’t optimized
Flexcube does not have an optimized workflow, and there are certain aspects of the Oracle Universal banking platform that they could improve.
• Does not use its implementation resource
Oracle uses a third-party company to implement Flexcube on their behalf, which means they don’t control this aspect of the development process.
• Non-intuitive
Flexcube is not intuitive for beginners because it has so many features available. However, more experienced users have access to all these tools at once, whereas other platforms provide only one or two modules in comparison.
• Customization is costly
Although Oracle is willing to accommodate customization requests, it does come at a cost.
Conclusion
Flexcube is a good option for any business that wants to have the flexibility of owning their equipment without all the hassle. It’s also a great choice if you’re looking for an affordable, flexible solution with no upfront costs and low-cost financing options. You can get started with Oracle Flexcube 14.x by calling us at JMR Infotech or browsing our website!
