This section contains information about the OFSAA Application Packs.
Topics:
· About Oracle Financial Services Analytical Applications (OFSAA)
· About Oracle Insurance Planner Application Pack
· About Oracle Financial Services Analytical Applications Infrastructure (OFS AAI)
In turbulent markets today, financial institutions require a better understanding of their risk-return while strengthening their 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 models, and application architecture to enable integrated risk management, performance management, customer insight, and compliance management. OFSAA actively incorporates risk into decision-making, enables you to achieve a consistent view of performance, promotes a transparent risk management culture, and provides pervasive intelligence.
Oracle Financial Services Analytical Applications delivers a comprehensive, integrated suite of financial services analytical applications for both banking and insurance domains.
An insurance company’s management is required to make many decisions based on its projected financial statements and KPIs. The decisions include new business mix decisions, risk management-related decisions, capital optimization decisions, and all other decisions that are to be based on forward-looking revenue statements and the balance sheet. Oracle Insurance Planner (OIP) is being developed to work as a decision support system.
OIP, as part of the first release, comes with the ability to create model points and project new business into the future based on the sales estimates or seed values and growth rates provided by the user. Users can upload the projections in respect of existing business as well and can club the projections for further analysis and reports. Reports and forward-looking statements are on the product roadmap and will be part of future releases.
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 required 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.