In today's turbulent markets, financial institutions require a better understanding of their risk-return, while strengthening competitive advantage and enhancing long-term customer value. Oracle Financial Services Analytical Applications (OFSAA) enable financial institutions to measure and meet risk adjusted performance objectives, cultivate a risk management culture through transparency, lower the costs of compliance and regulation, and improve insight into customer behavior.
OFSAA uses industry-leading analytical methods, shared data model and applications architecture to enable integrated risk management, performance management, customer insight, and compliance management. OFSAA actively incorporates risk into decision making, enables to achieve a consistent view of performance, promote a transparent risk management culture, and provide pervasive intelligence.
Oracle Financial Services Analytical Applications delivers a comprehensive, integrated suite of financial services analytical applications for both banking and insurance domain.
The following figure depicts the various application packs that are available across the OFSAA Banking and Insurance domains.
Figure 1: Application Packs of OFSAA
Topics:
· Oracle Financial Services Analytical Applications Infrastructure (OFS AAI)
· Oracle Financial Services Analytical Applications Reconciliation Framework Pack 8.1.0.0.0
Oracle Financial Services Analytical Applications Infrastructure (OFS AAI) powers the Oracle Financial Services Analytical Applications family of products to perform the processing, categorizing, selection and manipulation of data and information needed to analyze, understand and report on specific performance, risk, compliance and customer insight issues by providing a strong foundation for the entire family of Oracle Financial Services Analytical Applications across the domains of Risk, Performance, Compliance and Customer Insight.
Topics:
· Components of OFSAA Infrastructure
· OFSAA Infrastructure High Availability
The OFSAA Infrastructure includes frameworks that operate on and with the Oracle Financial Services Analytical Applications Data Model and forms the array of components within the Infrastructure.
The OFSAA Infrastructure components/frameworks are installed as two layers; primarily, the metadata server and Infrastructure services run on one layer, while the UI and presentation logic run on the other. The UI and presentation layer are deployed on any of the supported J2EE Servers.
The following figure depicts the various frameworks and capabilities that make up the OFSAA Infrastructure.
Figure 2: Components of OFSAAI
The current release of the OFSAA Infrastructure supports only the "Single Instance" installation for the Infrastructure components. However, the High Availability (HA) for the Database Server and/ or the Web application server clustering and deployment is supported in this release.
This release supports the Active-Passive model of implementation for OFSAAI components. For more information, see Oracle Financial Services Analytical Applications Configuration for High Availability Best Practices Guide.
Figure 3: The logical architecture implemented for OFSAA Application Packs
This fresh installer installs the OFSAA Reconciliation Framework Pack Release 8.1.0.0.0.
The Oracle Financial Services Reconciliation Framework reconciles the balances from the operational systems of a bank with the balances as maintained in the General Ledger (hereinafter referred to as GL) of the bank. With this application banks can also reconcile between General Ledgers maintained in the bank. The balances in the GL of a bank are the ones which are audited and duly certified by the internal and external auditors. The GL balances are considered to be the final version of truth in a bank. Therefore, all data extracted from any other operational systems of a bank must be reconciled with the balances maintained in the GL to ensure that they are complete, accurate, and comprehensive. It then acts as an authentic and reliable base for any further decision making.
NOTE:
OFSAA Reconciliation Framework Pack has to be used with other application packs such as:
· Oracle Financial Services Data Foundation Application Pack
· Oracle Financial Services Capital Adequacy Pack
· Oracle Financial Services Profitability Applications Pack
The Oracle Financial Services Analytical Applications Infrastructure Extension (OFS AAIE) Pack adds a set of new advanced features for the 8.1.0.0.0 Release across OFSAA applications. This pack can be installed on an OFSAA instance having one or more OFSAA application packs.
The Oracle Financial Services Analytical Applications Infrastructure Extension Pack includes the following advanced features and functionalities:
· Distributed Processing Capabilities
· Analytic Pipeline and Process models
· Attribution Analysis
· Content Management Interoperability Services
NOTE:
The pack is enabled by procurement of an additional license. For more information, see the OFS AAIE Release Notes and Installation Guide on the OHC.
Release 8.1.0.0.0 of OFSAA Reconciliation Framework Applications Pack supports fresh installation and also upgrade from versions 8.0.6.1.0, 8.0.7.0.0, or 8.0.8.0.0.
The following illustration shows the sequence of steps you need to follow to perform the installation.
