Chartis Research's RiskTech AI 50 recognizes
Oracle for its excellence in AI innovation and deployment in risk
technology
NEW YORK,
Oct. 7,
2024 /PRNewswire/ -- Oracle Financial Services
Summit -- Oracle Financial Services has been named the category
leader in the inaugural RiskTech AI 50 2024 report by Chartis
Research, a global leader in risk technology research and analysis.
Oracle secured the highest overall ranking amongst fifty industry
players, highlighting its success in delivering powerful AI
solutions – from infrastructure to AI-enabled applications – that
are helping financial services organizations operate more
efficiently and mitigate risk.
The RiskTech AI 50 report recognizes leaders in the financial
risk management industry who have demonstrated excellence across
four key criteria: impact, deployment, strategy, and innovation.
Oracle's advanced AI-enhanced applications, particularly in retail
banking, finance, and accounting, were central to this recognition.
The company also led in seven categories, including innovation,
impact, computational infrastructure for AI, use of AI in retail
banking, use of AI for finance and accounting, and AI-driven
document and data management frameworks.
"Being named the top performer in the RiskTech AI 50 report is a
testament to Oracle's commitment to delivering cutting-edge,
AI-powered solutions that drive meaningful impact for our customers
across the financial services sector," said Sonny Singh, executive vice president and
general manager, Oracle Financial Services. "Our ongoing
investments in AI and machine learning continue to provide
financial institutions with the tools they need to stay ahead and
foster resilience and growth through innovative, intelligent
risk-management strategies."
Chartis conducted a detailed analysis of vendors across the risk
management landscape, assessing their capabilities and use of AI.
The report highlighted the depth and breadth of AI applications
across the sector, from emerging large language model (LLM)-based
applications to established credit scoring and fraud
detection models, to help stakeholders navigate the complex and
highly evolving field of AI-driven risk management. Oracle's strong
performance reflects its ability to meet the growing demands of the
industry while driving forward the future of AI in financial
services.
"Oracle's achievement of the top ranking for RiskTech AI,
alongside multiple awards, highlights their expertise in AI as well
as their ability to deploy it at scale," said Maryam Akram, Research Principal at Chartis
Research. "Their high-performance, low-latency cloud
infrastructure, combined with proprietary algorithms and
sophisticated databases, were key factors in their success.
Oracle's ability to leverage a range of machine learning techniques
across a broad set of solutions also contributed to their win."
For more information about Oracle Financial Services
capabilities, please
visit: https://www.oracle.com/financial-services/
About Oracle Financial Services
Oracle Financial
Services provides solutions for retail banking, corporate banking,
payments, asset management, life insurance, annuities, and
healthcare payers. With our comprehensive set of integrated digital
and data platforms, banks and insurers are empowered to deliver
next-generation financial services. We enable customer-centric
transformation, support collaborative innovation, and drive
efficiency. Our data and analytical platforms help financial
institutions drive customer insight, integrate risk and finance,
fight financial crime, and comply with regulations. To learn more,
visit our website at https://www.oracle.com/financial-services.
About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please visit
us at www.oracle.com.
Trademarks
Oracle, Java, MySQL and NetSuite are
registered trademarks of Oracle Corporation. NetSuite was the first
cloud company—ushering in the new era of cloud computing.
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SOURCE Oracle