- Oracle (ORCL, Financial) launches new Trade Finance and Supply Chain Finance cloud services to modernize banking operations.
- Addressing a $2.5 trillion global trade finance gap, these services offer automated workflows and real-time transaction updates.
- Built on Oracle Cloud Infrastructure, they enhance operational efficiency, fraud prevention, and regulatory compliance.
Oracle Corporation (ORCL) has unveiled its latest cloud services aimed at revolutionizing trade finance and supply chain finance within the banking sector. These services are specifically designed to provide banks with enhanced capabilities to offer quicker access to financing for corporate clients and SMEs through digitized trade processes.
The newly introduced solutions feature digital self-service capabilities, automated workflows, and real-time updates, providing significant benefits to corporate clients. These include digital onboarding with automated Know Your Customer (KYC) checks, real-time transaction tracking, collateral management, and transparent monitoring of credit limits.
Oracle's launch comes at a critical time as the global trade finance gap is estimated to be $2.5 trillion, accounting for 10% of global merchandise trade, as reported by the Asian Development Bank. By modernizing these processes, banks can expedite underwriting, improve fraud prevention measures, and achieve better regulatory compliance.
Part of Oracle's broader Banking Cloud Services portfolio, these cloud-native applications operate on Oracle Cloud Infrastructure. They provide a secure, scalable, and efficient platform that allows banks to quickly deploy new services and manage trade finance operations across various geographies and currencies.
