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Oracle launches data warehouse aimed at financial services

The company's Oracle Financial Services Data Warehouse hits on the common theme in enterprise software circles of targeting specific verticals with optimized software and hardware.

Oracle on Thursday will launch a data warehouse targeted to the financial services industry.

The company's Oracle Financial Services Data Warehouse hits on the common theme in enterprise software circles of targeting specific verticals with optimized software and hardware. Oracle is looking to upend companies like IBM and Teradata in financial services accounts.

Among the key features of Oracle's financial services data warehouse:

  • Prebuilt data models designed to simplify data extraction and load quickly.
  • Ability to handle high-volume computations for modeling risk and meeting regulatory requirements.
  • Data quality checks and automated removal of inconsistencies across ledgers.
  • An integrated self-services reporting and business intelligence tool that doesn't require the customer to ship data out to another application.

S. Ramakrishnan, group vice president and general manager, Oracle Financial Services Analytical Applications, said that the launch is aimed at firms that have to determine their liquidity on a daily basis to meet new regulations. "These regulatory forces are forcing institutions to deal with complex analytical computations daily," said Ramakrishnan, who is betting that firms won't need to customize Oracle's financial services database.

Ramakrishnan added that many data warehousing deals are up for grabs in the financial services industry. "The failure rates on data warehouses in financial services are there for all to see," said Ramakrishnan, who added that Oracle is aiming to cut development time to launch a data warehouse. "Every one of these data warehousing projects (in the financial services industry) is a custom development project."

Oracle's data warehouse for the financial sector runs on Oracle databases. The financial data warehouse is certified to its Exadata database machine. Oracle is likely to take a bundle of software and hardware to financial services firms.

Indeed, Oracle president Mark Hurd will give a keynote at the Financial Services Forum in New York Feb. 9.