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Financial Crime and Compliance Management for Financial Services

Today's complex financial crime schemes pose increasing business and reputational risks to financial services firms. Financial crime costs an estimated $20 billion in losses annually, and the operational costs of compliance are growing substantially year after year. Furthermore, there is a higher level of scrutiny in the market today as the financial crime and compliance management market has reached a level of maturity where regulators are able to better articulate expectations and compare established programs across financial institutions. Chief Credit Officers (CCO) and Chief Risk Officers (CRO) are seeing an increased expectation, both internally and externally, for concise and accurate reporting on compliance while proving those results.

Financial crime and compliance management with Oracle Financial Services provides this reporting through a single, unified platform allowing financial services institutions to fully manage regulatory requirements and combat financial crime thereby covering the compliance and risk needs of a bank, insurance company, trading and brokerage firm or money service bureau.

ONLY ORACLE OFFERS SIGNIFICANT BENEFITS

Manage the full lifecycle of new and changing regulations while managing the results of detection and investigation of financial crime
Reduce the number of external systems accessed during compliance management and investigation to ensure compliance and investigation best practices
Leverage a comprehensive platform that offers the ability to use core capabilities for financial crime surveillance, detection, and event correlation along with watchlist management, enterprise analytics, and regulatory reporting in a single, proven platform
Actively assess risk and controls, "dig deeper" with ad-hoc analyses and comply with regulatory and internal reporting mandates within a single, enterprise class platform
Build a consolidated repository of all compliance libraries across financial crime and compliance management programs benefitting downstream analytics and information sharing initiatives
Reduce reporting SLAs and effectively manage ongoing compliance through comprehensive feedback from financial crime systems
Reduce regulatory risk by achieving cross-channel coverage
Reduce financial and reputational risk by establishing stricter controls across risk, compliance and security initiatives
Achieve visibility across channels and jurisdictions, leading to comprehensive investigation capabilities
Reduce operational costs of analysis and investigation process and gain efficiencies and drive productivity
Gain a 360° view of your institution's financial crime and compliance management initiatives