Islamic Banking

WHY ORACLE

ONLY ORACLE DELIVERS THIS KEY FUNCTIONALITY

Across the world, banks and financial institutions are transforming themselves to address new market challenges and to optimize their offerings for greater cost efficiency and profitability. Islamic banks are no different. Forced to provide differentiated customer service, scale up operations to meet global competition, and grow market share to increase their customer base, Islamic banks are reinventing their business models. Adding to this is the constant need to remain compliant with Sharia law.

Conventional banks, too, are beginning to make inroads into Islamic banking, while expanding their offerings and reach. As Islamic banks grow, Oracle technology is increasingly becoming a key enabler for future business.

  • State-of-the-art customer-centricity, offering a single, consolidated view of the customer, regardless of the number of segments and services utilized
  • Multilingual support for better customer servicing and personalized services
  • Reduced operational costs accrued through straight-through-processing and automated exception handling
  • 24x7 processing, offering the highest levels of availability for large volumes of transactions
  • High scalability, supporting consistent growth in both the number of users and the number of transactions

KEY OFFERINGS FOR ISLAMIC BANKING

ONLY ORACLE OFFERS SIGNIFICANT BENEFITS

Business Drivers Oracle Enables You to With These Products
Offer Shariah-Compliant Financial Products
  • Construct and offer diverse products compliant with Shariah
  • Offer a wide range of Islamic products (Mudharaba, Qard, Mudarabah, Ijarah, Musharaka, Istisna, Salam, Tawarruq, and Sukuks)
Improve Regulatory Compliance
  • Achieve greater insight into your risk exposure
  • Comply with your regulatory mandates
  • Leverage superior customer dashboard to gain an exhaustive view of a customer's assets and detect any deviation in the customer's portfolio against recommended allocations
Deliver Superior Customer Service
  • Manage the increase in number of customers and transactions. Scale up operations to meet growing business needs
  • Provide customer-centric service across multiple delivery channels
Scale Your Business
  • Replace modules from a legacy system on a selective and an evolutionary basis
  • Take advantage of best-of-breed solutions
Transform Processes and Standardize and Leverage Industry Best Practices
  • Move beyond limitations imposed by technology
  • Redesign processes quickly and efficiently
  • Optimize, measure and audit enterprise-wide processes
  • Bring about greater transparency in processes, policies, and workflows