Oracle's Move to
Financial Services Partner
This is the second issue of a special financial services supplement of Profit: The Business of Technology. Over the past year and a half since the first issue, Oracle has worked closely with our independent software vendor partners and customers so that together we can improve our understanding of how integration of our enterprise business applications and core technology can enable you to meet the challenges affecting the global financial services industry.
While cost and risk reduction and improvement in customer service continue to drive your market, other issues have grown in importance too. The industry is facing increases in identity fraud; security challenges; and the task of managing the sheer volume of information requested by regulators, investors, and customers. Oracle has responded by announcing our next-generation Oracle Fusion infrastructure, based on industry-accepted standards and a service-oriented architecture (SOA) to make it easier for your custom and packaged applications to be integrated and respond to these market changes.
Over the past 16 months, Oracle has made several strategic acquisitions that enhance our core technology and applications stacks to address performance, security, and the need to "renew" legacy environments. These acquisitions add identity management security and standards-based cryptographic protocols; policy- and SOA-based identity management capabilities; Business Process Execution Language (BPEL) capabilities, to wrap legacy applications for Web services; the richly functional PeopleSoft applications; and, most recently with the TimesTen acquisition, in-memory database technology for managing events, transactions, and data—addressing several of the industry's core issues.
In this issue, we show how our customers are experiencing the benefits these acquisitions and how their integration into our core application and technology offerings expands our three initiatives—Customer Insight and Management, Enterprise Performance and Compliance, and Operational Excellence—to deliver a more comprehensive solution.
I hope that you enjoy this second edition of Profit's financial services supplement, and I would like to hear how our focused vertical approach is affecting your business.
Charles Phillips
President, Oracle Corporation
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