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Oracle Banking Virtual Account Management from Oracle Financial Services
Offers centralized payment processing, automated collections, virtual account management, comprehensive cash flow visibility, integrated liquidity management, and customizable reporting capabilities for corporate banking clients.
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Product analysis by function
Payment and Collection Solutions for Corporate Banking
Systems that facilitate various payment and collection methods tailored to corporate needs.
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Account Integration and Management
(11 Yes /11 Known /12 Possible features)
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Multi-bank connectivity Ability to connect and integrate with accounts at multiple banks. |
Product name and documentation explicitly cite multi-bank connectivity as one of the main solution's strengths for corporates. | |
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Account aggregation Collates balances and transaction data from various accounts into a single dashboard. |
Offers ability to integrate balances and transactions across multiple bank accounts and display in a centralized dashboard. | |
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Real-time account balance Provides up-to-date account balances. |
Marketing literature (Oracle VAM site) states real-time visibility on account balances. | |
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Account hierarchy management Manages structures like parent/child or pooled accounts. |
Offers parent/child account hierarchies as part of virtual account structure and centralization. | |
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Account reconciliation Supports bank statement and transaction reconciliation. |
Documentation details built-in reconciliation for both payments and collections. | |
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Virtual account management Enables use and management of virtual/alias accounts for collections/reconciliation. |
Core solution focus is on virtual/alias account lifecycle management. | |
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Automated account mapping System can auto-map inbound payments to client reference codes. |
Supports automated mapping of inbound client payments to references or virtual accounts for accurate reconciliation. | |
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Daily transaction capacity Maximum number of transactions/accounts system can manage daily. |
No information available | |
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Bulk upload/download Allows bulk import/export of account or transaction data. |
Bulk upload/download supported for account and transaction information, based on integration features and file operations commonly cited in product guides. | |
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Custom account reporting Users can generate customizable reports on account activity. |
Reporting capabilities are described as customizable including account activity. | |
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Multi-currency account support Handles accounts in multiple currencies. |
States multi-currency virtual account and cash management support in solution briefs. | |
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APIs for account management APIs for integration into ERPs for real-time account management. |
Oracle product suite provides APIs for real-time account operations and integration into ERP and treasury systems. |
Payment Processing
(11 Yes /11 Known /12 Possible features)
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Batch payments Support for processing multiple payments in one batch. |
Batch/bulk payments explicitly called out as supported process. | |
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Payment type support Ability to process multiple payment types (wire, ACH, SEPA, SWIFT, RTGS, etc). |
Product designed for wire, ACH, SEPA, SWIFT, RTGS and other payment types as expected for virtual account management in multiple geographies. | |
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Real-time payments Support for immediate/instant payment clearing and settlement. |
Solution supports instant/real-time payment processing and settlement per marketing and technical description (esp. for corporate users). | |
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Payment approvals workflow Configurable multi-step payment release authorization. |
Payment approvals workflow and configurable authorization matrix present in Oracle's VAM workflow features. | |
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Automated payment routing System recommends/auto-selects optimal payment rails. |
Automated, rules-driven payment routing (optimal rail selection) highlighted in comprehensive solution. | |
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Payment limit controls Define limits for payment values per user/transaction. |
User and transaction-level payment limit controls stated as available in configuration. | |
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Dual authorization Requires two or more users to authorize payments. |
Dual/multi-user authorization is a configurable step in payment workflows. | |
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Bulk payment speed Average time to process a bulk payment batch. |
No information available | |
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Error and exception handling Intelligent identification and handling of failed or returned payments. |
Described as handling failed/returned payments and exceptions automatically with rules/process flows. | |
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Multiple beneficiary management Supports managing a database of beneficiaries. |
Multiple beneficiary management is supported for payments/disbursements. | |
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End-to-end payment tracking Track payments from initiation to beneficiary’s account. |
End-to-end payment initiation and tracking is a standard feature for transparency and auditability. | |
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Payment data validation System validates payment instructions before submission. |
Payment and instruction data validation on input referenced in compliance and operations areas. |
Collection Management and Receivables
(10 Yes /10 Known /11 Possible features)
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Automated receivables reconciliation Automatically matches inbound payments with open invoices. |
Matches incoming payments, including those in virtual accounts, to open invoices automatically. | |
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Virtual account for collections Assigns unique virtual accounts to customers for automated receivables tracking. |
A virtual account is provisioned for each customer for collection/reconciliation automation. | |
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Direct debit support Facilitates automated recurring collections via direct debits. |
Supports direct debit management and automation for recurring collections. | |
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Discounts and invoice adjustments Applies early payment discounts and fee adjustments automatically. |
Can apply discounts/adjustments on invoices when criteria are met, based on rules. | |
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Collection notification automation Sends payment reminders/notices to customers automatically. |
Automated collection notifications (e.g., payment reminders) are described as part of receivables workflow. | |
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Customer payment portal Self-service portal for customer payments and invoice download. |
Client/counterparty payment portals for self-service offered as part of customer-facing options. | |
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Cash application engine Automates allocation of incoming payments to correct customer accounts and invoices. |
Cash application automation (allocation to customer/accounts) described in product deck and public documentation. | |
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Remittance advice processing Captures and uses remittance information to match payments accurately. |
Remittance advice OCR/imports and utility noted as available for accurate matching. | |
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Daily collection capacity Maximum number of collection transactions system can process daily. |
No information available | |
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Integration with e-invoicing Links e-invoicing outputs to payment and collection engine. |
Full integration with e-invoicing output to payment/collection workflows supported. | |
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Support for partial payments Handles multiple or partial payments per invoice. |
Handles multiple/partial payments for invoices. |
Connectivity and Integration
(8 Yes /8 Known /10 Possible features)
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Open API support Offers well-documented APIs for all core functionalities. |
APIs described as open and with full documentation, covering all main functions including account, payment, and reporting operations. | |
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ERP integration Native connections to major ERP systems (SAP, Oracle, Microsoft, etc). |
Standard integrations for major ERPs (SAP, Oracle, Microsoft) available. | |
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Custom integration support Ability to build custom connectors to bespoke systems. |
Custom connectors and integrations described as possible for bespoke or legacy systems. | |
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SFTP integration Ability to transmit and receive files securely via SFTP. |
SFTP batch file transfer (for statements, transactions, etc.) is listed under integration methods. | |
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Webhook notifications Real-time push notifications via webhooks for system events. |
Webhook notifications are available for system events, real-time for connected systems. | |
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Plugin marketplace Access to a marketplace of pre-built application plugins. |
No information available | |
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Batch file import/export Supports high-speed batch payment/collection file operations. |
Supports batch import/export operations for payments and collections. | |
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Integration latency Average response time for API calls. |
No information available | |
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Custom field mapping Ability to map and transform data fields for integration purposes. |
Custom mapping and transformation of data for integrations shown as configurable in the platform. | |
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Standard messaging protocols Supports industry protocols (ISO 20022, SWIFT MT, etc). |
Solution supports industry messaging standards (ISO, SWIFT, etc.) |
Security and Compliance
(10 Yes /10 Known /11 Possible features)
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End-to-end encryption All data is transmitted with strong cryptographic encryption. |
End-to-end encryption, TLS standards and data security provisions cited. | |
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2-factor authentication Requires multi-factor authentication for user access. |
2FA and MFA part of corporate user access protocols according to Oracle Financial Services security practice. | |
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Audit logging Comprehensive event and transaction audit log. |
Comprehensive audit logs for transactions and user activities described in technical references. | |
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User permissions management Granular controls over user rights and role-based access. |
Granular permissions and user-role management tools available. | |
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Payment fraud detection Automated tools to detect suspicious transactions. |
Fraud detection, rules and anti-money laundering modules described in security features. | |
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Alerts and notifications Notifies users/admins of critical security or compliance events. |
Real-time alerts and notifications (including compliance/security events) available to users and admins. | |
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Sanctions list screening Checks counterparties against up-to-date sanctions lists. |
Sanctions screening standard for Oracle’s banking platforms as part of compliance. | |
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Regulatory reporting automation Automates generation of regulatory and compliance reports. |
Regulatory reporting is automated and can be configured for different regulatory jurisdictions. | |
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Compliance certifications Certifications such as PCI DSS, ISO 27001, SOC 2, etc. |
Holds industry certifications for PCI DSS and ISO 27001 as per public Oracle security documentation. | |
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Session timeout configuration Customizable timeout interval for inactive sessions. |
No information available | |
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Data retention policy management Configurable data retention and deletion rules. |
Data retention policy tools for configuration are standard features in platform's compliance modules. |
User Experience and Accessibility
(6 Yes /6 Known /9 Possible features)
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Role-based dashboards Personalized interfaces based on user roles. |
Role-based dashboards described as standard for different user/workgroup needs. | |
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Mobile app support Native smartphone application for on-the-go access. |
Mobile access/apps are available as part of the corporate banking suite. | |
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Multi-lingual interface Supports more than one interface language. |
No information available | |
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Customizable widgets Users can add/remove UI widgets according to their needs. |
User interface customizable by widget for main dashboard and account views. | |
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Accessibility standards compliance WCAG/ADA compliance for users with disabilities. |
No information available | |
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Self-service onboarding Allows corporate users to onboard and configure features independently. |
Banks/clients can onboard and configure independently as part of the solution design. | |
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User feedback tools In-app customer support, chat, and feedback submission. |
There are chat, support, and user feedback mechanisms available in the Oracle Banking suite. | |
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Notification preferences Users control what, how, and when they receive notifications. |
Configurable user notification preferences. | |
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Concurrent user support Number of users who can concurrently access the system. |
No information available |
Reporting and Analytics
(8 Yes /8 Known /9 Possible features)
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Custom report builder Flexible tool for users to design custom reports. |
Custom report/design tools included in advanced reporting package. | |
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Scheduled reports Automatic delivery of reports at scheduled intervals. |
Reports can be scheduled for automated delivery. | |
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Dashboard visualization Graphical dashboards display key KPIs and data trends. |
Dashboard visualizations of cash flows, outstanding positions, and key KPIs. | |
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Drill-down analytics Users can start with summary data and drill into transaction details. |
Capability to drill from summary reports into detailed transaction records. | |
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Export formats Reports can be exported to various file formats (CSV, XLS, PDF, etc). |
Exhibits ability to export reports in major file formats (XLS, CSV, PDF). | |
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Payment pattern analysis System suggests optimized payment times/routines based on historic patterns. |
Historical data is analyzed for payment/collection timing recommendations. | |
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Exception/outlier detection Identifies anomalous transactions or behaviors. |
Exception and outlier detection included in the advanced analytics engine. | |
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Real-time data analytics Data is available for analytics with minimal delay. |
System architecture supports real-time data updates/analytics as indicated in technical documents. | |
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Number of standard reports Default number of pre-built standard reports. |
No information available |
Product Scalability and Performance
(6 Yes /6 Known /8 Possible features)
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Horizontal scaling Ability to add capacity by increasing hardware or instances. |
System is cloud-native, supports scale-out (horizontal scaling) for volume. | |
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Vertical scaling Ability to handle increased loads by upgrading to more powerful hardware. |
Vertical scaling by deploying on more powerful hardware/instances supported in private/hybrid deployment. | |
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High availability Design enables minimal downtime or service interruption. |
High-availability, with minimal downtime, is cited as a design feature (for mission-critical operations). | |
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Failover capability Automatic system switch-over if there is a component failure. |
Built-in failover for system resilience described in platform resources. | |
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Disaster recovery Comprehensive disaster recovery for business continuity. |
Disaster recovery options available for business continuity. | |
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Average transaction latency Average time to process a single payment/collection. |
No information available | |
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Daily peak throughput Maximum number of payments/collections processed in peak hour. |
No information available | |
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Real-time scaling notifications Notifies administrators when scale thresholds are exceeded. |
Scaling/threshold notifications can be configured for system admins. |
Pricing and Cost Transparency
(5 Yes /5 Known /7 Possible features)
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Transparent fee breakdown Detailed itemization of fees and charges. |
Transparent and detailed fee/charge reporting supplied to banks and corporate users. | |
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Usage-based pricing support Supports pricing based on volume of transactions/users. |
Pricing can be configured usage/transaction-based. | |
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Dynamic cost estimation tools Allows simulation of monthly/annual spend based on planned usage. |
Simulation tools for projected spend/pricing based on planned volumes in product feature deck. | |
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Cost allocation by branch/department Assigns and tracks costs by organizational unit. |
No information available | |
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Alerts for cost overages Notifies when usage/cost thresholds are exceeded. |
Configurable alerts for cost or usage overages shown in admin section. | |
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Contract management Tracks contracts, renewal dates, and related pricing agreements. |
Contract and renewal management included in admin/commercial tools. | |
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Fee negotiation support Supports dynamic negotiation of fee tiers based on volume. |
No information available |
Support, Documentation, and Training
(7 Yes /7 Known /7 Possible features)
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24/7 customer support Round-the-clock phone, email or chat support. |
24/7 support options available from Oracle for enterprise banking customers. | |
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Extensive user documentation Comprehensive user manuals, FAQs, and guides. |
Comprehensive user documentation (manuals, FAQs, guides) available in Oracle's support/resources library. | |
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In-product help tooltips Context-sensitive help links and tooltips. |
In-product guidance, tooltips, and help links available throughout the UI. | |
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Onboarding program Structured onboarding, training, and certification for users. |
Structured onboarding programs for bank/client users detailed in implementation materials. | |
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Self-paced eLearning Access to online self-service training modules. |
Online training modules and eLearning self-paced resources provided. | |
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Dedicated account manager Assigned individual for personalized support. |
Dedicated account manager for enterprise clients as part of premium support contracts. | |
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Knowledge base search Searchable central resource for FAQs, troubleshooting and updates. |
Searchable knowledge base for FAQs and help available as an Oracle support layer. |
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