How Is Oracle Digital Banking Experience Changing the Landscape of Digital Banking

Customers are the lifeblood of your business. As a business owner, you know how important it is to ensure that they have an excellent experience when interacting with your company. You also understand that there are many ways in which customers can interact with your business—from social media to online banking.

Oracle Digital Banking Experience (OBDX) offers features for both digital and corporate banking, so you can give all of your customers the best possible experience no matter where they are!

What is Oracle Digital Banking Experience?

Oracle Digital Banking Experience is a multi-channel digital banking solution that helps you to give customers the best possible experience. It is built on a framework of advanced customer engagement and simplifies creating digital banking solutions for customers. It is also a robust platform that you can use to manage multiple brands and entities while giving you complete control over who has access to what information.

Why Should You Go For it?

Companies are going for this software because it can help them to give customers a digital experience that is no different than the one they receive in-branch. By offering this solution, companies will provide their clients with powerful tools and features that increase engagement and drive better customer satisfaction levels and increased efficiency.

Oracle Digital Banking Experience Features

Features for Digital Experience

  • Immersive User Experience:

Create an individualized experience using customizable templates which you can use across all channels, including mobile web, tablet app, call center, etc. Personalize experiences based on data visibility from multiple sources such as Oracle Identity Management Suite (OIMS). Offer real-time journeys by creating custom workflows across portals/channels at any time – no need to build your integrations or manage separate systems.

  • Advanced Customer Engagement:

Optimize the journey by creating custom messaging and offers based on customer behavior, which you can deliver any time through multiple channels such as mobile push notifications, text messages (SMS), email, etc. Recognize customers across service lines with Oracle Identity Management Suite (OIMS). Offer a completely new insight into your business – increase revenue opportunities using insights from data residing in various back-end systems like OBIEE or CRM for better decision making and improve risk management capabilities.

  • Build Your Own Experiences:

Create personalized experiences that differentiate your brand, providing a great user experience to both existing users and prospective clients alike. Choose from more than 100+ pre-built features/functionalities, including account summary page designs, document hold management, approvals, notifications, and alerts.

  • Offer Robust Built-In Security:

Empower your employees with secure access to banking services while protecting digital assets from unauthorized use by leveraging Oracle Identity Management Suite (OIMS). Ensure compliance through single sign-on across various channels such as mobile apps, web portals, or social media sites using OBIEE Cloud Connector. Improve risk management capabilities using out-of-the-box content filtering features in OIMS, which can be extended further by creating custom rules to block objectionable information before it reaches customers’ inboxes.

  • Centrally Manage Multiple Entities and Brands:

Centralize control over multiple brands and entities for a consolidated view of each brand’s aspects, including different products offered and customer demographics.

  • Enterprise-Class, Standards-Based Architecture:

Use Oracle’s industry-leading standards-based architecture (SOA) across your enterprise and get more flexibility in how you connect to existing systems of record such as core banking system using OBIEE Cloud Connector or for new digital engagement channels with rich social media integrations like Facebook Messenger by leveraging the open APIs offered via RESTful services.

Features for Corporate Banking

  • Digital Banking for Corporates of Any Size:

Deliver a consistent and engaging experience across all digital channels for the entire customer lifecycle. Customers can enjoy personalized services via their preferred channel, including web self-service portals or mobile apps with built-in chatbots for customers to get answers quickly.

  • Real-Time Liquidity Management:

Oracle Digital Banking Experience provides banks an open architecture platform that allows them to manage liquidity across accounts held at multiple financial institutions adaptively. This makes it easier than ever before to help corporations consolidate cash management functions into one location while managing risk effectively through real-time alerts on exposure limits over defined thresholds.

  • Manage Complexity with Virtual Accounts:

Utilize Oracle’s proprietary virtual account technology, which reduces operational complexity by making automatic adjustments between various bank accounts based on predefined rules.

  • Deliver End-to-End Trade Finance:

Oracle Digital Banking Experience enables companies to leverage an integrated suite of trade finance products, including Trade Capture and Approval workflows, Letter of Credit (LC) management, LC negotiation with multiple counterparties, and eDelivery functionality.

  • Accelerate Supply Chain Finance:

Oracle Digital Banking Experience enables companies to streamline their financing process by allowing them to quickly and easily initiate purchase orders, submit invoices for payment, track the status of supplier payments, and gain visibility across all aspects of contract management.

Features for Retail Banking

  • Highly Personalized Retail Servicing:

Oracle Digital Banking Experience provides retail banks with a leading digital banking platform to launch and grow their next generation of interactions, delivering the best possible experience for customers at every touchpoint.

  • User-Friendly Originations:

The Cloud Services Platform (CSP) is an open, secure, high-performance environment that enables global financial institutions to rapidly deploy Oracle’s industry-leading Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Supply Chain Management (SCM), and other business applications as standard cloud services on a single unified technology stack deployed in multi-tenant data centers or within own infrastructure.

  • Proactive Personal Finance Management:

Designed to deliver more personalized experiences for wealth management clients by integrating real-time feeds into client portals powered by the Oracle Personalization Cloud.

  • Customer 360 with Account Aggregation:

A single view of all customer information and relationships across enterprise applications with an actual 360-degree perspective on the account life cycle, from origination to servicing and collections. This enables financial institutions to aggregate their customers’ accounts across multiple banking channels into one integrated view for analysis and reporting purposes.

  • Comprehensive Islamic Banking Capabilities:

The Oracle Digital Banking Experience offers enhanced functionality for sharia-compliant retail banking, with capabilities such as custom account types, asset segregation, and the ability to identify Islamic customers at the point of sale.

Conclusion

Oracle Digital Banking Experience has changed the landscape of digital banking. It helps customers bank more conveniently and efficiently with various innovative features like chatbots, voice-activated customer service, and augmented reality. Contact us at JMR Infotech. We can help you set up your system today!

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