Head office: Oracle Financial Services Software Limited, Oracle Park, Off Western Express Highway, Goregaon (East), Mumbai 400063, Maharashtra, India Tel: +91 22 6718 3000 Email:
financialservices_ww@oracle.com Other offices: India (6), US (7), Australia, Canada, Chile, China, France, Germany, Greece, Ireland, Japan, Netherlands, Russia, Singapore, South Korea, UAE, UK Website:
www.oracle.com/financialservices Twitter: @OracleFS Contact: Tushar Chitra (marketing director) Tel: +91 80 6659 7000 Email:
tushar.chitra@
oracle.com Founded: 1989 Ownership: Public Limited Company, of which Oracle owns 80.56 per cent Number of staff: 9600+
Summary history
1977 Consulting company, Software Development Laboratories, is founded by three Silicon Valley software engineers. They then pick up a contract with the CIA to build a special database program codenamed ‘Oracle’. Oracle database available commercially. Establishment of Citil.
1979 1993 2000 2002
Citil becomes I-flex Solutions. I-flex launches Reveleus.
2005 In mid-2005, Oracle buys Citibank’s investment in I-flex (just over 41 per cent). In the same year, I-flex added an operational risk component in the form of Capco’s Ortos. This product was reworked and subsequently brought into Reveleus.
2006 I-flex acquires US-based AML and compliance software vendor, Mantas, for $122.6 million. To fund the acquisition, Oracle, the chief investor in I-flex, upped its stake in the Indian vendor from 52.5 per cent, to 55.1 per cent under a preferential allotment of some 4.45 million shares. Mantas’ technology was seen as complementary to Reveleus, with the former strong in the capital markets space and the latter in banking. ‘It definitely rounds out the risk and compliance strategy,’ said S Ramakrishnan, CEO of Reveleus. Oracle also establishes its own dedicated financial services business unit, FSGBU, led by I-flex executives and gradually increases its stake in I-flex to more than 80 per cent.
2007 2008
2009
The Reveleus Governance, Risk and Compliance (GRC) framework is unveiled. I-flex also acquires Capco’s Singapore consulting practice.
I-flex Solutions becomes Oracle FSS. Oracle acquires Sun Microsystems for $7.2 billion.
2012 Oracle officially unveils a new high-end core banking system, Oracle Banking Platform (OBP). UBank, an offshoot of NAB in Australia, is claimed as the first live site.
Financials
For the quarter-ended 30th Sep 2017, Oracle FSS reported net income of ~$52.87 million, up by 23% year-over-year in reported currency.
Partnerships
Oracle FSS boasts representation in 85 countries thanks to around 32 corporate business partners. Partnerships specific to the Reveleus solution included a 2004 tie-up with Reuters and an IBM agreement forged the year before. The latter agreement was meant to see IBM and I-flex jointly market the Reveleus offering and IBM seek to apply its IFW banking data model to the I-flex offering. The Reuters partnership was centred on risk management and would see Reveleus linked to a range of Reuters applications, including Kondor+ and Kondor Global Limits. However, Reuters subsequently emerged as a serious competitor to I-flex following its acquisition of French company, Diagram, and its back office development plans for Kondor+. Another industry leader, Hewlett-Packard, has been fairly involved in the development of Reveleus, and has also been an implementation partner, notably at the American Stock Exchange in 2003.
104 Risk Management Systems & Suppliers Report |
www.ibsintelligence.com
company details
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