For the second consecutive year, Oracle is positioned as a leader and is acknowledged for enabling financial institutions to effectively and efficiently achieve KYC/CDD compliance while delivering seamless customer experience

MIDDLETON, Mass., May 10, 2022 /PRNewswire/ — Oracle has been positioned as the Technology Leader for Know Your Customer (KYC) by Quadrant Knowledge Solutions in the latest edition of their proprietary SPARK Matrix™ analysis, as it received the highest overall ratings across the evaluation parameters, securing high scores for Technology Excellence and Customer Impact.

The Quadrant Knowledge Solutions SPARK Matrix™ features a detailed analysis of global KYC market dynamics, major trends, vendor landscape and competitive positioning. The study provides competitive analysis and ranking of the major vendors in the space, giving strategic information for users to evaluate different vendor capabilities and competitive differentiation, as well as various market positions.

Positioning Oracle as a Technology Leader, the report highlighted that with the industry’s most comprehensive, robust, and modern financial crime and compliance management (FCCM) product suite, Oracle offers best-in-class KYC/CDD solutions powered by Artificial Intelligence (AI), Machine Learning (ML), Graph, and advanced analytics. Oracle offers key features & functionalities of KYC, including on-boarding, name screening, consumer and business identification, due diligence, KYC regulations, KYC risk scores, real-time risk scoring, continuous monitoring, alert & case management, suspicious activity monitoring, and auditing & reporting. It also offers seamless KYC/CDD capability with omnichannel and digital connectivity throughout the customer lifecycle.

According to Pradnya Gugale, Analyst at Quadrant Knowledge Solutions, “Oracle Financial Services’ Know Your Customer (OFS KYC) solution provides a hassle-free KYC process throughout the customer lifecycle, ensures regulatory compliance while preventing friction at the intersection of customer journeys, and offers multi-dimensional risk assessments through integrated, data-driven & intelligent automation. Moreover, the company offers robust EDD capability with quite a few differentiators, including a function-first approach specifically designed to meet all the updated AML/FATF-based KYC regulatory requirements, comprehensive & integrated solutions, advanced analytics, and productized integration.” “With its overall robust KYC capabilities, and strong customer value proposition, Oracle has received strong ratings across the parameters of technology excellence and customer impact in the 2022 SPARK Matrix: Know Your Customer (KYC) and has ranked as a technology leader,” Pradnya added.

“With the rapid shift to digital interactions and the increasing sophistication of bad actors, getting KYC right has become even more critical for financial institutions. Our seamless KYC approach is aimed at helping banks and FIs do away with the redundant manual intervention and reduce friction at customer touchpoints, deliver rich customer experience, achieve cost and operational efficiencies, all this while being regulatory compliant,” according to John Edison, Group Vice President, Oracle Financial Services Financial Crime and Compliance Management Product Suite. “We help them transform customer experience and reduce risk with a seamless and smarter approach to KYC.”

Additional Resources:

• For more information about Oracle’s FCCM Product Suite: Link
• SPARK Matrix™: Know Your Customer (KYC), 2022

About Oracle Financial Services:

Oracle Financial Services provides retail banking solutions, corporate banking, payments, asset management, life insurance, annuities, and healthcare payers. With our comprehensive set of integrated digital and data platforms, banks and insurers are empowered to deliver next-generation financial services. We enable customer-centric transformation, support collaborative innovation, and drive efficiency. Our data and analytical platforms help financial institutions drive customer insight, integrate risk and finance, fight financial crime, and comply with regulations. 

Oracle Financial Services Financial Crime and Compliance Management (FCCM) is a comprehensive suite of applications designed to address the most demanding compliance needs of large, global financial institutions. Gleaning experience from over 25 years of providing crime and compliance management solutions to over 170 global banks, Oracle FCCM enables FIs to effectively eliminate financial crime while still ensuring operational efficiency.

About Quadrant Knowledge Solutions:

Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments. For more available research, please visit https://quadrant-solutions.com/market-research/ 

Media contacts:

Judi Palmer
Oracle Corporate Communications
Judi.palmer@oracle.com 
650.784.7901

Riya Mehar
Quadrant Knowledge Solutions
rmehar@quadrant-solutions.com

View original content:https://www.prnewswire.com/news-releases/oracle-ranked-as-highest-scoring-kyc-vendor-across-customer-impact-metrics-in-2022-quadrant-knowledge-solutions-know-your-customer-kyc-report-301543781.html

SOURCE Quadrant Knowledge Solutions