Oracle has launched a new artificial intelligence (AI)-powered case management solution, Oracle Financial Services Crime and Compliance Management Investigation Hub Cloud Service, to enhance the speed and accuracy of financial crime investigations.
The tool is designed to offer a modern user experience by reducing manual tasks, eliminating data silos, and providing investigators with enhanced insights to focus their time on analysis and combating financial crime.
By utilsing integrated graph analytics and embedded AI, the Investigation Hub solution automates tasks, optimises workflows, and delivers data-driven insights to investigators.
These capabilities are expected to improve task management, boost reporting accuracy, and ensure consistent decision-making across investigative teams.
By simplifying the investigation process, the new service enables investigators to concentrate on higher-value tasks such as analysis and decision-making.
Besides, the tool will allow investigators to spend most of their time analysing insights, graph analysis, and auto-generated narratives taken from key data points, enhancing the speed and accuracy of investigations conducted.
According to Oracle, the solution is highly configurable, allowing institutions to tailor the platform to meet their specific needs.
Built on Oracle Cloud Infrastructure (OCI), the Investigation Hub solution integrates seamlessly with Oracle’s other financial crime and compliance management cloud service (FCCM) solutions and third-party data providers.
Oracle said that regular updates will ensure that the tool incorporates the latest AI and machine learning advancements.
Oracle Financial Services finance, risk, and compliance product development senior vice president Jason Wynne said: “To stay ahead of these threats, financial institutions need flexible solutions that can help them detect, investigate, and prevent financial crime more effectively.
“Investigation Hub represents a significant leap forward in case management to enable tier-one institutions and smaller banks alike to conduct faster, more accurate, and cost-effective investigations by providing context to the data.”
Last month, Oracle unveiled its new financial crime and compliance (FCCM) management monitor cloud service to provide banks, fintechs, and financial services firms with a centralised platform to enhance their FCCM efforts.
