Oracle has introduced its latest innovation, the AI-powered Case Management Solution, designed to help banks detect, investigate, and resolve financial crime more efficiently. Named the Financial Services Crime and Compliance Management Investigation Hub Cloud Service, this solution aims to reduce manual workloads, eliminate data silos, and equip investigators with advanced tools for combating financial crime.
The Investigation Hub utilizes integrated graph analytics and embedded AI to automate repetitive tasks, optimize workflows, and deliver real-time, data-driven insights. This not only boosts investigators’ productivity but also enhances their ability to make accurate and timely decisions across diverse teams.
Jason Wynne, Senior Vice President of Finance, Risk, and Compliance Product Development at Oracle Financial Services, highlighted the growing sophistication of financial criminals using advanced technologies to exploit weaknesses in traditional systems, emphasizing the need for flexible, robust solutions.
Wynne emphasized that the Investigation Hub revolutionizes case management for banks of all sizes by transforming raw data into actionable insights. Investigators can now conduct faster, more accurate investigations, allowing them to focus on higher-level tasks like analysis and decision-making.
Enhanced Automation for Investigations
One of the key benefits of Oracle’s new case management solution is its ability to reduce investigation time by up to 70%. The solution automates manual processes and provides a unified view of case data, significantly enhancing investigators’ efficiency. This streamlined approach ensures that investigators focus more on analyzing crucial information rather than being bogged down by time-consuming data collection.
Typically, investigators spend 80% of their time gathering data and only 20% on analysis. The Investigation Hub flips this ratio, allowing professionals to dedicate the majority of their time to deeper analysis and decision-making, resulting in more effective and timely investigations.
Oracle’s solution incorporates graph analysis, which helps investigators visualize complex relationships between data points, and AI-powered insights that create auto-generated narratives from key data. This approach significantly improves both the speed and accuracy of investigations, empowering investigators to work smarter, not harder.
Built on Oracle Cloud Infrastructure
Powered by Oracle Cloud Infrastructure (OCI), the Investigation Hub integrates seamlessly with other Oracle Financial Crime and Compliance Management Cloud Service solutions. This allows for a comprehensive view of customer activity and risk, pulling data from both internal systems and third-party providers.
Oracle has committed to regularly updating the solution with the latest in AI and machine learning, courtesy of its OCI Generative AI service. These updates ensure that financial institutions remain compliant with evolving regulatory requirements and maintain access to cutting-edge tools for combating financial crime.
As financial crimes become more complex and threats continue to evolve, Oracle’s new AI-powered Case Management Solution provides banks with the advanced technology they need to stay ahead of bad actors while ensuring efficient and effective investigations.
