Oracle Database In-Memory along with CustomerXPs Clari5 enables large financial institutions to remove analytic silos and analyze transactions across multiple channels

Financial institutions globally are under increasing pressure to rapidly detect, prevent and block cross-channel fraud and financial crimes across banking channels, products, and core systems in real-time. This becomes dramatically more effective when banks unify all fraud management into a single platform. This central-nervous-system approach requires massive compute and data management to happen in real-time, and in-line with the transaction itself.

CustomerXPs Software, an enterprise software product company offering Enterprise Financial Crime Management and Customer Experience Management products for Tier-1 global banks, recognized this need and validated Clari5 with Oracle Database In-Memory.

CustomerXPs, a Gold level member of Oracle PartnerNetwork (OPN), ran Oracle Database In-Memory without requiring any application changes. Test results showed that queries and reports ran significantly faster, helping financial institutions that run CustomerXPs Clari5 perform even more complex analyses and increase the scale of operations while improving real-time responsiveness.

The integration of CustomerXPs Clari5 with Oracle Database In-Memory brings a number of benefits to banks looking for these solutions: 

  • Scalability: Analyzing data from multiple channels and products requires the ability to analyze significantly more data. Channels and products that were previously analyzed independently can now be analyzed together for more complex analyses, removing traditional analytic silos, and the ability to detect real-time cross-channel and cross-product fraud.
  • Performance: The in-memory column store delivers dramatic analytic performance improvements for real time detection, prevention and transaction blocking to better identify and respond to fraudulent actions; to detect suspicious patterns in real time; and to perform real time analysis of existing and in-flight transactions and activities.
  • Agility and Productivity: Instant access to data and timely reporting improves productivity, real-time collaboration support, and delivery of timely up to date and accurate indicators to management.

Oracle Database In-Memory delivers leading-edge in-memory performance without the need to restrict functionality or accept compromises, complexity and risk. Deploying Oracle Database In-Memory with virtually any existing Oracle Database-compatible application is as easy as flipping a switch-no application changes are required. The Oracle Database In-Memory option enables near instant analysis of data in existing applications, allowing users to make better decisions faster and with complete confidence. Database In-Memory enables ISV applications to transparently take advantage of in-memory processing.

“We at CustomerXPs are looking for technologies that can further improve the real-time responses of Clari5, as our global tier-1 banking customers are now demanding answers for more and more complex real-time problems, which typically were considered unsolvable. The combination of Oracle Database In-Memory and Clari5 enables richer, deeper analysis and real-time insight at the point of transaction itself,” said Rivi Varghese, Chief Executive Officer, CustomerXPs . ” this increased real-time visibility and agility, banks are better able to identify, intervene and respond to fraudulent actions and help decrease their financial risk.”

“Oracle Database In-Memory was created to bring real-time analytics to existing Oracle databases with almost no effort,” said Tim Shetler, vice president, Product Management, Oracle. “CustomerXPs has validated the benefits of Oracle Database In-Memory for one of the most business-critical applications in our time.” News Service

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