SOURCE: Oracle Corporation

Oracle Corporation

October 13, 2015 19:00 ET

Oracle Announces New Financial Services Revenue Management and Billing All Java Release With Analytics

Detailed Insights Once Previously Hidden on Receivables, Pricing, Revenue, Churn and Operational Efficiency Now Enable More Precise Decision Making

SINGAPORE and LAS VEGAS, NV--(Marketwired - Oct 13, 2015) - SIBOS and BAI Retail Delivery -- Today's financial services companies and fintechs are challenged by increasing complexity in pricing, billing and invoicing, as well as more intricate & dynamic structures for pricing and evolving regulations. To help these organizations deliver better price execution, improve operations and meet revenue goals, Oracle (NYSE: ORCL) has announced Oracle Financial Services Revenue Management and Billing Analytics to deliver valuable insights into all areas of the business.

"We are very excited to deliver analytical capabilities that will help financial services companies maximize their revenues. Providing very detailed insights into the performance, that was accessible earlier, of what has typically been very disparate processes will assist our customers in making faster, smarter decisions that can ultimately impact overall business performance," said Ashwin Goyal, Group Vice President, Oracle Financial Services. "This new capability complements the hundreds of billions of dollars that the existing Oracle product currently prices and bills annually for more than 30 financial institutions across banks, insurers, payment providers, healthcare providers and fintechs."

"To address the transaction volume of the largest financial services institutions, Oracle recently benchmarked Oracle Financial Services Revenue Management and Billing to process over 1 billion transactions per day which is equal to four times the U.S. average daily debit and credit card transaction volumes," added Goyal.

The new version is written in Java and features key customer productivity enhancements including increased flexibility in dynamic parameters, value-based pricing, trial billing, tolerance reviews and Common Separated Values (CVS) document processing. Enhanced pricing features enable customers to incent their customer loyalty and effectively manage ever-changing interest rates. Trial billing enables customers to accelerate the monthly billing process and the use of business rules to define thresholds for automated and systematic monitoring of customer revenue variances as well as supports improved revenue management. Additionally, CVS document processing enables banks to upload documents and generate pricing and billing, giving banks choices as to how bills can be created.

The new offering, Oracle Financial Services Revenue Management and Billing Analytics, delivers detailed insights into operational performance trends that can significantly influence profitability and performance, such as time-based receivables dashboards segmented by customer type and currency, total number of priced events during a specific time period and how fees and transaction volumes affect the business and unrealized revenue, thereby unveiling error-prone, manual intensive processes that can be corrected. In addition, Oracle Financial Services Revenue Management and Billing Analytics can visibly show contract churn and revenue loss from contract closures as well as trends against recorded KPIs. This robust combination of features enables financial services institutions to take direct action to improve customer loyalty and competitive advantage.

"As a FinTech company in the payments space, we understand the need to not only get to the market fast with new products and services, but also to have complete confidence in our revenue management lifecycle. Oracle Financial Services Revenue Management and Billing Cloud Service has given us that opportunity and we see the new Analytics offering as an additional way for us maximize our revenue," said Brendan McGrath, Chief financial officer, Zapp.

With the new insightful metrics and KPIs, finance, customer service and operations personnel are more empowered to assess customer revenue trends and improve the quality of customer care to drive greater loyalty and maximize revenue. Executives of financial services firms can identify error-prone processes faster to optimize staff allocation and minimize costs, risks and revenue leakage while increasing operational efficiencies.

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To learn more about Oracle Revenue Management and Billing Analytics and other Oracle Financial Services solutions, please connect on Twitter @OracleFS and at Facebook.com/OracleFS.

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