Financial Technology

Financial Technology

Share
September 22, 2011

Oracle Financial Services Revenue Management and Billing Delivers Extreme Performance



Oracle (News - Alert), a provider of complete, open, and integrated business software and hardware systems, released the results of performance tests. It  shows that Oracle Financial Services Revenue Management and Billing 2.2  running with Oracle Exadata Database Machine X2-2 can give   high performance and scalability for financial services organizations to implement real-time relationship pricing, consolidate multiple billing engines within business divisions, process large transaction volumes and render bills faster, online or printed.

Oracle Financial Services Revenue Management and Billing running on a full rack Oracle Exadata Database Machine processed more than 1 billion transactions in under five hours and 100 million monthly invoices in 13 hours.

The Oracle Exadata Database Machine provides extreme performance for both data warehousing and online transaction processing (OLTP) applications. This makes it the ideal platform for consolidating onto grids or private clouds.

"The results from the performance tests of Oracle Financial Service, Revenue Management and Billing running with Oracle Exadata Database Machine open new customer service and relationship possibilities for financial service organizations of all sizes. Now banks can certainly enjoy the upside of the revenue and lower revenue leakages," stated Ashwin Goyal, group vice president, Oracle Financial Services.

 "Leveraging the highly scalable billing appliance, banks can confidently consolidate and support advanced, personalized billing that takes into account all of a customer's activity across products  regions and billing cycles," Goyal adds.

To process and prepare bills, the application validates, map, aggregates and price the financial transactions sourced from different systems based on the contract of the customer. These groups are priced into billable charges. On Oracle Exadata Database Machine, the application priced 9,523 billable charges per second, allowing financial services organizations to process pricing requests for 100 million accounts in six hours. Ultimately 100 million bills can be generated in a single monthly run using a 13 hour batch.

 Based on Oracle technology, the solution provides the scalability and processing power that financial services organizations require to implement a reliable processing platform, deliver invoices on time and help manage revenues by product line.


Anamika Singh is a contributing editor for TMCnet. To read more of Anamika's articles, please visit her columnist page.

Edited by Rich Steeves
Share


blog comments powered by Disqus


FREE eNewsletter

Financial Technology Industry News