Oracle Financial Services Introduces Oracle Financial Services Currency Transaction Reporting
May 03 2012 - 8:00AM
Marketwired
Oracle (NASDAQ: ORCL)
News Facts
- To help financial services organizations comply with a recent
announcement from Financial Crime Enforcement Network (FinCEN)
requiring a format change to the electronic filing of currency
transaction reports (CTRs), Oracle Financial Services today
introduced Oracle Financial Services Currency Transaction Reporting
and Oracle Financial Services Currency Transaction Reporting
Analytics
- The new solution enables banks to consolidate and streamline
cash transaction processing, and generate and file electronic CTR
reports using a single, enterprise-wide platform. Banks also gain a
360-degree view of all daily cash activities to help support
compliance and improve reporting efficiency.
- Using Oracle Financial Services Currency Transaction Reporting,
banks can automatically and accurately consolidate the entire CTR
process -- from teller entry through automated aggregation and
generation of CTRs, to logging of monetary instruments for
record-keeping and managing exemptions, through generation and
filing of required e-file reports.
- Together, Oracle Financial Services Currency Transaction
Reporting and Oracle Financial Services Currency Transaction
Reporting Analytics enable banks to actively assess cash activity,
monitor CTR metrics, and productivity, as well as determine
historical trends to prevent future compliance issues. The
solutions also support quicker reporting for electronic and
internal reporting across the enterprise.
- Oracle Financial Services Currency Transaction Reporting and
Oracle Financial Services Currency Transaction Reporting Analytics
are offered on Oracle's Financial Crime and Compliance Management
platform.
Supporting Quotes
- "The onus to comply with new FinCEN electronic CTR filing
requirements by March 31, 2013 weighs on financial services
organizations as they consider their options," said S.
Ramakrishnan, group vice president and general manager, Oracle
Financial Services Analytical Applications. "Oracle Financial
Services Currency Transaction Reporting enables banks to manage the
entire reporting process -- from teller entry through electronic
submission -- from a single platform, streamlining compliance while
delivering important insight into all daily cash activity, as well
as historical trends that can drive process improvements and reduce
risk."
Supporting Resources
- Oracle Financial Services
- Oracle Financial Services Currency Transaction Reporting
- Oracle Financial Crime and Compliance Management for Financial
Services
- Oracle Financial Services Analytical Applications
- Follow Oracle Financial Services on Twitter
- Join the Oracle Financial Services Community on Facebook
- Subscribe to the Oracle Financial Services YouTube channel
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