Financial Institutions of Pakistan can improve payment systems through Oracle

Karachi, July 18, 2012 (PPI-OT): Business Process Management has gained broad acceptance as a key enabler for achieving operational efficiency and process compliance for businesses in various industries. Financial institutions and intermediaries in Pakistan are looking to significantly improve their payment processing systems, in order to meet compliance and regulatory needs.

Oracle can help enable institutions to build shared processes that unify existing payments systems across internal and external interfaces in a timely and cost efficient manner.

These views were expressed by the speakers at a ‘Business Process workshop organized by Oracle.

Mr. Albert Tay, Director Fusion Middleware, Oracle Asia Pacific, said that having accurate and optimized business processes in place is the key to survival and growth of the businesses.

Oracle can enable organizations to model, automate, monitor, and optimize key processes so that organizations can achieve better efficiency and business visibility while reducing complexity and total costs.

“By undertaking a business process centric approach, organizations can achieve greater alignment between business needs and IT’s ability to ensure swift response to change,” he said.

Oracle can enable the enterprises to better-manage processes by delivering unified, industry-leading products for business process management (BPM), such as Oracle Business Process Management Suite 11g, which is the industry’s most complete, open and integrated BPM solution to help customers lower costs, adapt to change and simplify business process management.

Other speakers, while elaborating on the importance of collaboration among IT, business, and all other stakeholders, said that Social BPM interaction simplifies collaboration providing new ways to simplify work.

Successful companies rely on agile business processes and collaborative work environments through visible, shareable, and flexible business processes ensuring that the best ideas are heard and implemented quickly.

Oracle BPM Suite 11g enables the creation of a collaboration space, called Instance Space, for every process instance or case, to facilitate the ad hoc collaboration within a process. Within this space, process or case workers can not only access the process tasks and data, but also collaborate with each other via discussions, documents, wikis, etc

They said that social BPM will not only change process modelling and collaborative process work but it will also expand the reach of BPM to new types of processes.

One of the most compelling promises that social BPM holds is the ability to enable such ad hoc and collaborative processes, bringing together the structured and unstructured, and completing the realm of BPM effectiveness.

Mr Albert Tay, thanking the participants for their encouraging remarks based on their experience of using Oracle products, said “Oracle has a strong focus on the financial service industry in Pakistan and we hope that the financial institutions here can strike a balance between driving innovation and improving efficiency in today’s dynamic business environment using the tools like Oracle Business Process Management.

For more information, contact:
Oracle Corporation
Pakistan Liaison
First Floor, Software Technology Park 1,
Awami Markaz, Constitution Avenue,
F-5/ 1, Islamabad – 44000
Tel: +92.51.2099799
Fax: +92.51.2875596
Tel: +92.21.35839292
Fax: +92.21.35301283