Press release from Business Wire India
Source: Oracle
Tuesday, March 08, 2011 02:25 PM IST (08:55 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Information technology; Technology
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IDBI Bank Goes Live with Oracle Financial Services Asset Liability Management and Oracle Hyperion Planning to Control Risks and Improve Profitability
Oracle Applications Enable IDBI Bank to Be At The Forefront Among Public Sector Banks in India to Generate Asset Liability Management Reports on Daily Basis
New Delhi, Delhi, India, Tuesday, March 08, 2011 -- (Business Wire India) -- News Facts
-- IDBI Bank, one of India's leading commercial banks, has implemented Oracle Financial Services Asset Liability Management and Oracle Hyperion Planning to automate budgeting and planning processes.
-- Following the restructuring of IDBI Bank into several customer-focused business units, IDBI Bank needed a solution that would help managers monitor earnings from each of its products, lines of business and branches to determine better resource allocation.
-- IDBI Bank contracted Oracle to implement Oracle Financial Services Asset Liability Management and Oracle Hyperion Planning to upgrade interest rate and liquidity risks assessment system and automate the budgeting and planning process in May 2009.
-- Oracle Financial Services Asset Liability Management has enabled IDBI Bank to assess its liquidity and interest rate risks on a day-to-day basis, thus helping to manage risks and maintain growth. Bank managers and analysts can now measure the impact of interest or foreign exchange rate changes on its net interest income and economic value.
-- To automate its budgeting and forecasting processes, IDBI Bank deployed Oracle Hyperion Planning to create budgets and rolling forecasts that are linked to its balance sheet and profit and loss models. Bank managers use Oracle Hyperion Planning to set sales targets and analyze profitability across each branch, vertical market and product; and complete branch performance assessments.
-- Oracle Hyperion Planning is integrated with Oracle Financial Services Asset Liability Management and other Oracle tools used by the bank, including Oracle Financial Services Funds Transfer Pricing and Oracle Financial Services Profitability Management, enabling IDBI Bank to complete the budgeting process and generate rolling sales forecasts.
-- This integrated approach has reduced the time it takes for managers to conduct scenario analysis and produce earnings reports from three to five days to one day.
Supporting Quotes
-- "We had previous experience of working with Oracle Consulting and their demonstrated knowledge and skills convinced us that we should engage them again for this project", said
R.K. Bansal, Executive Director, IDBI Bank.
-- "Oracle Financial Services Asset Liability Management and Oracle Hyperion Planning have upgraded our asset liability management and planning process, allowing us to better control risks and improve profitability" said P.Sitaram, CFO, IDBI Bank
-- "Oracle Risk Manager enables us to do advanced analysis of our assets and liabilities, assess the impact of liquidity and interest rate risks on the bank's net interest income, and assess the economic value of equity under various interest rate scenarios", said Ishwar Padhan, General Manager, Balance Sheet Management Group, IDBI Bank
-- "Oracle Hyperion Planning has enabled budgeting, target setting and monitoring performance at the disaggregated level of line of businesses, products and branches in a structured manner on a regular basis", said Anirudh Behera, Deputy General Manager, Budget & Planning Group, IDBI Bank
-- "We are delighted that IDBI Bank has decided to deploy Oracle Financial Services Asset Liability Management and Oracle Hyperion Planning to manage financial risk and protect profit margins," said Gopal Chawla, Senior Director, Consulting, Oracle India. "These solutions are appropriate for a fast growing organisation like IDBI Bank. In addition, the integration capabilities of our solutions can enable their business critical applications to work together and help the bank attain its business goals."
Supporting Resources
-- Oracle Asset Liability Management
-- Oracle Hyperion Planning
-- Oracle Financial Services Funds Transfer Pricing
-- Oracle Financial Services Profitability Management
-- IDBI Bank - Oracle Customer Case Study
About Oracle
Oracle (NASDAQ: ORCL) is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit our Web site at http://www.oracle.com.
About Oracle Fusion Applications
Oracle Fusion Applications are 100% open standards-based business applications that provide a new standard for the way we innovate, work and adopt technology. Delivered as a complete suite of modular applications, Oracle Fusion Applications work together with existing applications portfolio to evolve business to a new level of performance.
About Oracle Applications
Over 65,000 customers worldwide rely on Oracle's complete, open and integrated enterprise applications to achieve superior results. Oracle provides a secure path for customers to benefit from the latest technology advances that improve the customer software experience and drive better business performance. Oracle Applications Unlimited is Oracle's commitment to customer choice through continuous investment and innovation in current applications offerings. Oracle's next-generation Fusion Applications build upon that commitment, and are designed to work with and evolve your existing applications investments. Oracle's lifetime support policy helps ensure customers will continue to have a choice in upgrade paths, based on their enterprise needs. For more information on the latest Oracle Applications releases go to: www.oracle.com/applications.
About IDBI Bank
IDBI Bank [previously Industrial Development Bank of India (IDBI)] was established in 1964 by the Government of India to provide credit facilities for the development of industries. Today, it offers a range of products and services covering retail, corporate, international banking, treasury management, merchant, and investment banking. IDBI Bank has a network of 722 branches, 1210 ATMs across India.
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CONTACT DETAILS
Vandana Shenoy, Oracle India, +91 (124) 43228156, vandana.shenoy@oracle.com
KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, IT, TECHNOLOGY
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