Oracle launches data warehouse for financial services firms

Oracle has launched a data warehousing platform that will allow financial services firms to better manage information used in financial planning and analysis.

Oracle Financial Services Data Warehouse is designed to integrate with the Oracle Financial Services platform and analytical tools. The system currently integrates with more than 30 different financial services applications, the firm said.

The new offering provides better performance and organisation than previous financial data warehouse platforms, according to Oracle, and is better suited for end users.

Oracle believes that adding a data warehousing system specifically designed for the platform will allow firms to perform faster queries and more accurate record checks.

"Next-generation data warehouse initiatives in financial services demand a new approach that starts with the end use in mind," said S. Ramakrishnan, group vice president and general manager for Oracle financial services analytical applications.

"The focus now shifts from the indiscriminate, tedious capture and stewardship of all data, to the speed and specific context in which comprehensive decisions must now be made."