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Take advantage of data-management tools that help limit the impact of poor data by ensuring its validity via a set of rigorous data quality and cleansing techniques that support enterprise-wide analytics and regulatory report submissions.
Over the past decade, the role of meaningful, actionable data has completely changed within the modern financial institution. The Oracle Financial Services Analytical Applications (OFSAA) Data Management solution is based on a comprehensive understanding of the industry and integrates various disciplines to provide a single source of the truth. The result is cleansed, standardized, and reconciled data, ensuring completeness, accuracy and financial integrity.
IFRS 17 and other regulatory and management directives are forcing insurers to get a grasp on the data within their business. Numerous policy and claims systems have often been revised ways that addressed the business need at the time, but make data extraction very difficult. Add to this the actuarial systems, financial systems, and a myriad of spreadsheets and it starts to become overwhelming.
Oracle Insurance Data Foundation helps chief information, risk, and financial officers drive business results to even greater levels with unprecedented performance, responsiveness, scalability, and manageability.
Oracle Financial Services gives financial institutions the comfort of knowing that a fully automated, scalable, and configurable solution is handling their data and reporting. Designed to work across multiple data sources and platforms, the Oracle Financial Services Regulatory Reporting solution saves time and money while reducing the risk of inconsistency. It ensures the business meets its regulatory requirements in an integrated and holistic way.
Discover how banks can leverage data analytics for better decision-making and effective business insight.