- Business
- Oracle Financial Services Software Limited, a subsidiary of Oracle Corporation and headquartered in Mumbai, India since its founding in 1990, develops and provides financial technology solutions for the banking, financial services, and insurance sectors worldwide, including operations across more than 150 countries. The company offers a comprehensive suite of products and services through its products division and PrimeSourcing business process outsourcing arm; these encompass Oracle FLEXCUBE Universal Banking, Oracle Banking Accounts, Oracle Banking Origination, Enterprise Limits and Collateral Management, Virtual Account Management, Oracle Banking Treasury Management, Oracle Banking Payments, Oracle Financial Services Analytical Applications, profitability management and fund transfer pricing applications, anti-money laundering and compliance solutions, risk management tools, lending platforms, cash management systems, trade finance, asset management, private wealth management, and business analytics platforms tailored for retail, corporate, investment banking, treasury, payments, and regulatory compliance needs. In recent developments, the company secures multiple strategic agreements and renewals with global financial institutions, including major U.S., Canadian, UK, Italian, UAE, Middle Eastern, Japanese banks, and Niva Bupa Health Insurance in India for analytical applications, cloud services, profitability management, crime and compliance enhancements, and cash liquidity solutions as of Q2 FY25; its product segment revenue grows 17% year-over-year amid 23% overall segment expansion from FY22 to FY24 driven by higher license and cloud signings, alongside ongoing ESOP allotments and stock option grants under the OFSS Stock Plan 2014.