Leading Independent Analyst Firm Names Oracle A Global Power Seller in 2008 Banking Platform Deals
Redwood Shores, CA – June 4, 2009
In its May 2009 independent report, “Global Banking Platform Deals 2008: Setting The Stage In A Maturing Market,” Forrester Research has recognized Oracle as a Global Power Seller for 2008 banking platform deals.
Forrester Research defines Global Power Sellers as leaders with “more than 35 new banking platform clients in at least six regions of the world in 2008.” Only Oracle and one other vendor were designated as Global Power Sellers out of the 17 companies surveyed for the report.
According to the report, Oracle won a total of 62 counted deals with new clients, twenty more than the next closest vendor.
The Forrester Research report cites Oracle as a top-tier financial services vendor based on report evaluation criteria that includes banking platform functionality, banking-specific functionality, only deals signed in 2008 as well as new, named customers.
In the report, Forrester Vice President, Principal Analyst Jost Hoppermann states that, “2009 may bring new interest in banking platforms. Reasons include the need to build a banking platform after a complex merger or acquisition as well as the need to consolidate operational costs for a bank’s international subsidiaries.”
“Forrester Research’s recognition of Oracle as a Global Power Seller is a significant accomplishment and reflects the combined strength of our solutions, unmatched banking sector expertise and global reach,” said Rajesh Hukku, Senior Vice President and General Manager, Oracle Financial Services. “The fact that the report identified Oracle as having nearly 50 percent more counted global banking platform deals for 2008 than the next closest vendor surveyed provides great recognition for our strategy of delivering complete, open and integrated solutions that address our financial services customers’ most critical business requirements.”
Oracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. For more information, visit www.oracle.com/financialservices.
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