New York—Oct 7, 2024- Oracle has launched the Oracle Financial Services Crime and Compliance Management Investigation Hub Cloud Service, aimed at streamlining the investigation of financial crimes for banks and financial institutions. The announcement was made at the Oracle Financial Services Summit in New York on October 7, 2024.
The Investigation Hub uses cutting-edge technologies such as AI and integrated graph analytics to cut down by as much as 70% the amount of time spent by investigators in gathering data and other administrative efforts.
This enables them to spend most of the time on understanding the facts and making decisions thus enhancing the quality and swiftness of investigations.
“Bad actors are becoming increasingly sophisticated, leveraging advanced technologies, and exploiting vulnerabilities in traditional systems,”
Said Jason Wynne, Senior Vice President of Finance, Risk, and Compliance Product Development at Oracle Financial Services
“Investigation Hub represents a significant leap forward in case management to enable tier-one institutions and smaller banks alike to conduct faster, more accurate, and cost-effective investigations.”
The solution is characterized by highly configurable and appealing graphical user interfaces that meet the requirements of different institutions and investigation teams.
Furthermore, such tools easily connect with the other existing products in the Oracle Financial Crime and Compliance Management suite. It provides an overall view of customer behavioral patterns and the risk presented by such behavior while allowing the institution to remain in line with the laws governing it.
The Investigative Hub is an extension of the wider Oracle FCCM portfolio, which has been molded to cater to anti-money laundering and anti-financial crime compliance for almost a quarter century.
Since crimes related to finance have become even more sophisticated, this new solution intends to provide investigators with the necessary means to keep up.
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