Oracle Ranked as Highest-Scoring KYC Vendor Across Customer Impact Metrics in 2022 Quadrant Knowledge Solutions Know Your Customer (KYC) Report
For the second consecutive year, Oracle is positioned as a leader and is acknowledged for enabling financial institutions to effectively and efficiently achieve KYC/CDD compliance while delivering seamless customer experience
Oracle has been positioned as the Technology Leader for Know Your Customer (KYC) by Quadrant Knowledge Solutions in the latest edition of their proprietary SPARK Matrix™ analysis, as it received the highest overall ratings across the evaluation parameters, securing high scores for Technology Excellence and Customer Impact.
Marketing Technology News: San Francisco Giants Score with Oracle Cloud
The Quadrant Knowledge Solutions SPARK Matrix™ features a detailed analysis of global KYC market dynamics, major trends, vendor landscape and competitive positioning. The study provides competitive analysis and ranking of the major vendors in the space, giving strategic information for users to evaluate different vendor capabilities and competitive differentiation, as well as various market positions.
Positioning Oracle as a Technology Leader, the report highlighted that with the industry’s most comprehensive, robust, and modern financial crime and compliance management (FCCM) product suite, Oracle offers best-in-class KYC/CDD solutions powered by Artificial Intelligence (AI), Machine Learning (ML), Graph, and advanced analytics. Oracle offers key features & functionalities of KYC, including on-boarding, name screening, consumer and business identification, due diligence, KYC regulations, KYC risk scores, real-time risk scoring, continuous monitoring, alert & case management, suspicious activity monitoring, and auditing & reporting. It also offers seamless KYC/CDD capability with omnichannel and digital connectivity throughout the customer lifecycle.
According to Pradnya Gugale, Analyst at Quadrant Knowledge Solutions, “Oracle Financial Services’ Know Your Customer (OFS KYC) solution provides a hassle-free KYC process throughout the customer lifecycle, ensures regulatory compliance while preventing friction at the intersection of customer journeys, and offers multi-dimensional risk assessments through integrated, data-driven & intelligent automation. Moreover, the company offers robust EDD capability with quite a few differentiators, including a function-first approach specifically designed to meet all the updated AML/FATF-based KYC regulatory requirements, comprehensive & integrated solutions, advanced analytics, and productized integration.” “With its overall robust KYC capabilities, and strong customer value proposition, Oracle has received strong ratings across the parameters of technology excellence and customer impact in the 2022 SPARK Matrix: Know Your Customer (KYC) and has ranked as a technology leader,” Pradnya added.
Marketing Technology News: MarTech Interview with Chris Gladwin, CEO and Co-founder at Ocient
“With the rapid shift to digital interactions and the increasing sophistication of bad actors, getting KYC right has become even more critical for financial institutions. Our seamless KYC approach is aimed at helping banks and FIs do away with the redundant manual intervention and reduce friction at customer touchpoints, deliver rich customer experience, achieve cost and operational efficiencies, all this while being regulatory compliant,” according to John Edison, Group Vice President, Oracle Financial Services Financial Crime and Compliance Management Product Suite. “We help them transform customer experience and reduce risk with a seamless and smarter approach to KYC.”