Oracle Introduces AI-Driven Case Management to Combat Financial Crime
Oracle has launched a new AI-powered case management solution aimed at helping financial institutions enhance their response to financial crime. The tool, named the Financial Services Crime and Compliance Management Investigation Hub Cloud Service, streamlines investigation processes by reducing manual work, integrating data, and improving decision-making, as outlined in The Fintech Times.
The Investigation Hub leverages graph analytics and embedded AI to automate tasks, manage workflows efficiently, and offer insights that empower investigators to focus on complex analysis and fraud prevention.
“Bad actors are becoming increasingly sophisticated, leveraging advanced technologies, and exploiting vulnerabilities in traditional systems,” explained Jason Wynne, Oracle’s senior vice president of finance, risk, and compliance product development. “To stay ahead of these threats, financial institutions need flexible solutions that help detect, investigate, and prevent financial crime more effectively. Investigation Hub represents a significant leap forward, enabling institutions to conduct faster, more accurate, and cost-effective investigations by transforming data into actionable stories.”
The solution, built on Oracle Cloud Infrastructure (OCI), integrates with other Oracle compliance tools and external data providers to give banks a holistic view of customer activities. It aims to reduce investigation time by up to 70%, shifting investigators’ focus from manual data gathering to high-value analysis. Typically, investigators spend 80% of their time collecting data and only 20% on analysis. Oracle’s new system reverses this ratio, helping financial institutions boost accuracy and speed in identifying fraudulent activity.
Oracle confirmed that the Investigation Hub will receive ongoing updates with the latest AI and machine learning toolsfrom OCI Generative AI to ensure it keeps up with evolving regulatory requirements and compliance standards.