Core banking solutions are moving from being products to platforms which have won the company the consent to endow banking solutions to three new banks.
On 16th August 2016, the company announced that Oracle India had been chosen by two small finance banks and one payments bank. The small finance banks are the ones promoted by Janalakshmi Financial Services and Equitas, while the payments bank is backed by NSDL. The company’s Flexcube banking solution has been powering the operations of HDFC Bank and Yes Bank. On 17th August, Oracle India share price traded on Rs. 2715.40 as a reaction to the announcement.
Oracle has redesigned solutions by reviewing core banking in its entirety rather than adding layers to the existing capability. They have been cannibalizing their offerings based on what their customers might need going forward.Today, Oracle share price went as high as Rs. 3985.10 intraday in the appreciation.
In PSU banks, the paradigm has been about branch management. Walk into any PSU branch and the structure is 'get in line and I will service you when I am ready’. Then again, the customer who is serviced in a special way by companies like Amazon and Uber expects the same level of conduct from banks.
On bank consolidation, Indian banks are in a much better spot compared to some of the banks in Europe and the US. Even though Indian banks are using technology from the late 90s, it is still comparatively newer than international banks, some of which are using 40-year-old technology.
Currently, Oracle share price is trading at Rs. 3,700 with a rise of 0.16%. Dynamic Levels have included Oracle India among top 500 shares for the quarter. Oracle India share price last closed near its closest support level. For details on the support and resistance levels of Oracle, visit the Oracle share price forecast page of Dynamic Levels website.
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