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Oracle Financial Services – Financial Crime and Compliance Management from Oracle Financial Services
Offers capabilities for customer due diligence, transaction monitoring, and regulatory reporting, ensuring comprehensive compliance with KYC and AML regulations.
More about Oracle Financial Services
Product analysis by function
Know Your Customer (KYC) for Compliance
Platforms for verifying customer identities, assessing risk, and meeting regulatory requirements for customer onboarding.
More Know Your Customer (KYC)
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Identity Verification
(8 Yes /8 Known /10 Possible features)
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Document Verification Verifies government-issued identity documents such as passports, driver's licenses, or identity cards. |
Oracle Financial Services advertises robust document verification as part of its identity verification stack in KYC workflows. | |
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Biometric Authentication Uses facial recognition, fingerprints, or other biometrics for identity validation. |
Biometric authentication is listed as a supported feature for customer onboarding and fraud prevention in official Oracle documentation. | |
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Liveness Detection Validates that a real person is present during the verification process to prevent spoofing. |
Product specifies support for liveness detection during document and biometric verification. | |
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Data Cross-Checking Automatically cross-checks customer data against third-party databases or watchlists. |
Cross-checking with external watchlists and databases (e.g. PEP, sanctions) is a well-advertised feature. | |
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Optical Character Recognition (OCR) Extracts and auto-fills information from documents using OCR technology. |
The KYC process includes OCR to extract data from submitted documentation. | |
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Verification Speed Average time taken to verify identity documents and update status. |
No information available | |
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Multi-Language Support Supports document types and interfaces in multiple languages. |
Oracle solution advertises multi-language support to accommodate global banks. | |
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Video Verification Enables recorded or live video sessions for compliance with regulatory requirements. |
Product supports video KYC and remote onboarding to meet regulatory requirements in certain jurisdictions. | |
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Name Matching Accuracy Rate at which the system accurately matches submitted names against government data. |
No information available | |
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Geolocation Check Confirms the customer's location during onboarding. |
Product supports IP and device geolocation as part of onboarding and fraud prevention. |
Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)
(8 Yes /8 Known /10 Possible features)
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Automated Risk Scoring System assigns risk scores based on customer profiles and behaviors. |
Automated risk scoring is fundamental in the CDD/EDD platform features. | |
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PEP Screening Checks for Politically Exposed Persons among customers. |
PEP screening integrated into onboarding/continuous due diligence modules. | |
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Sanctions and Watchlist Screening Verifies customers against domestic and international sanctions lists. |
Sanctions and watchlist screening capabilities are highlighted on the product website. | |
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Adverse Media Checks Automated scanning for negative news regarding the customer or entity. |
Adverse media checks are mentioned as part of enhanced screening during KYC. | |
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Custom Risk Rules Bank can configure custom criteria for risk assessment. |
Oracle solution supports custom risk rule configuration for compliance teams. | |
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Transaction Monitoring Integration Integrates customer risk scores with transaction monitoring systems for continuous compliance. |
Risk scores integrate with transaction monitoring per documentation. | |
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Ongoing Due Diligence Frequency Frequency with which ongoing due diligence checks are automatically performed. |
No information available | |
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Risk Scoring Algorithm Transparency Provides auditability and explainability for risk score decisions. |
Transparency and auditability for risk scoring decisions are positioned as selling points for regulators and audit needs. | |
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Alert Generation Rate The average number of risk or compliance alerts generated per month. |
No information available | |
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Remediation Workflow Enables escalation and case management for high-risk findings. |
Oracle provides case management support for findings that need escalation. |
Data Security & Privacy
(9 Yes /9 Known /10 Possible features)
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Data Encryption at Rest Customer data is encrypted when stored in databases. |
Data encryption at rest is standard for Oracle compliance/cloud platforms. | |
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Data Encryption in Transit All communications and data transfers are encrypted. |
Encryption in transit is confirmed by security documentation and compliance specifications. | |
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Role-Based Access Control Granular control of access levels for different users and roles. |
Role-based access is offered for all users/admins in multi-tenant environments. | |
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Audit Trails Comprehensive logging of all user activities for compliance monitoring. |
Comprehensive activity and audit logs are included for compliance. | |
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Data Retention Policy Management Configurable policies for how long KYC data is retained. |
Retention policy management available to meet compliance requirements. | |
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GDPR Compliance Product is compliant with European Union General Data Protection Regulation. |
Explicitly states GDPR compliance across hosted and cloud deployments. | |
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Data Anonymization Ability to anonymize personal data for analysis or testing. |
Data anonymization for analysis/testing described as part of regulatory compliance. | |
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Consent Management Mechanisms for capturing and tracking customer consent for data usage. |
Consent capture and audit required for GDPR and supported by Oracle's KYC product. | |
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Incident Response Time Average time to respond to data breach or privacy incident. |
No information available | |
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Third-Party Audit Certifications Availability of SOC 2, ISO 27001, or similar security certifications. |
Oracle advertises ISO 27001 and SOC 1/2 certification support in platform documentation. |
Regulatory Compliance & Reporting
(8 Yes /8 Known /10 Possible features)
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Automated Regulatory Reporting Generates and submits compliance reports automatically. |
Automated reporting for suspicious activity and regulatory needs highlighted in product literature. | |
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Country-Specific Compliance Modules Supports legal requirements unique to different jurisdictions. |
Oracle is used internationally and advertises support for local/jurisdictional regulatory modules. | |
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Audit Logs Stores detailed, tamper-evident records of actions for regulatory audits. |
Detailed, immutable audit logs provided for regulatory requirements. | |
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Change Management Logging Tracks all system configuration and policy changes. |
Tracks all policy and configuration changes as part of compliance management. | |
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Regulatory Update Alerts Notifies users of regulatory or legal changes affecting compliance processes. |
No information available | |
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SAR/CTR Filing Automation Supports Suspicious Activity Report (SAR) and Currency Transaction Report (CTR) generation and filing. |
Platform supports SAR/CTR automation for financial institutions. | |
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Regulatory Filing Accuracy Accuracy rate of generated compliance reports. |
No information available | |
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Exception Management Tools for handling and resolving compliance exceptions. |
Exception management and resolution workflow part of case management system. | |
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Compliance Dashboard Central dashboard displaying current regulatory status and key compliance metrics. |
Compliance dashboard and reporting modules for tracking all regulatory and KYC statuses. | |
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E-signature Support Allows digital signing of regulatory documents. |
E-signature support available for regulatory documentation. |
User Experience & Onboarding
(6 Yes /6 Known /10 Possible features)
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Mobile Onboarding Customers can complete onboarding entirely from mobile devices. |
Mobile-friendly onboarding as part of digital customer journeys. | |
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Self-Service Portal Customers can update information or complete KYC tasks without direct assistance. |
Customers can self-complete onboarding processes and upload documents without manual staff intervention. | |
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Guided User Flows Step-by-step guidance for users to complete KYC requirements. |
Guided user flows implemented across web/mobile onboarding journeys. | |
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Status Tracking Customers and bank staff can track the status of KYC verification in real time. |
Status tracking available for both customers and compliance staff. | |
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Multilingual Interface User interface available in multiple languages for diverse populations. |
Oracle advertises multilingual interfaces for international clients. | |
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Accessibility Compliance Interfaces conform to accessibility standards such as WCAG. |
No information available | |
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Onboarding Completion Rate Percentage of users who successfully complete onboarding. |
No information available | |
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Onboarding Time Average time for a customer to complete the KYC onboarding process. |
No information available | |
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Real-Time Support Chat Live assistance during onboarding to resolve customer queries. |
No information available | |
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Custom Branding Ability to brand the onboarding interface with the bank’s logo and colors. |
Product allows for custom branding of onboarding portals. |
Integration & Interoperability
(9 Yes /9 Known /10 Possible features)
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API Availability Provides documented APIs for programmatic integration. |
APIs for integration with banking systems and third-party tools are documented and supported. | |
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Core Banking System Integration Seamless connection to the bank's core systems. |
There is an emphasis on core banking system integration for customer lifecycle management. | |
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Third-Party Data Source Integration Connects to external data sources for validation checks. |
Oracle Financial Services provides connectors to external and third-party data sources. | |
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Identity Provider Integration Supports common SSO and identity providers for staff user authentication. |
SSO and directory service integration available for enterprise deployments. | |
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Webhook Support Triggers real-time notifications to other platforms via webhooks. |
Webhook/event notification support noted in developer documentation. | |
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Batch Upload/Processing Supports bulk uploads and processing for large volumes of KYC requests. |
Supports batch upload and bulk processing for enterprise clients. | |
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Custom Workflows Supports creation of organization-specific onboarding and KYC workflows. |
Workflow engine enables custom onboarding/workflow design. | |
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Data Export Options Multiple export formats (CSV, XML, JSON) for KYC data. |
Multiple options for data export (CSV, XML, JSON) described in integration materials. | |
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Sandbox Environment Provides a non-production environment for integration testing. |
Sandbox and non-production environments available for clients and integrators. | |
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Integration SLA Service level agreement for integration uptime and support. |
No information available |
Fraud Detection & Prevention
(8 Yes /8 Known /10 Possible features)
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Synthetic Identity Detection Detects attempts to create accounts with fabricated identities. |
Described as capable of synthetic identity detection powered by analytics. | |
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Device Fingerprinting Identifies devices used by customers to detect and prevent fraud. |
Device fingerprinting supported to detect and prevent device-based fraud. | |
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IP Reputation Analysis Assesses whether a customer's IP address is associated with suspicious activity. |
IP reputation and risk scoring are part of onboarding/fraud modules. | |
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Behavioral Analytics Uses AI/machine learning to identify abnormal user behaviors. |
Behavioral analytics described as part of fraud detection suite. | |
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Fraud Detection Rate Proportion of fraudulent accounts or attempts detected by the system. |
No information available | |
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Fraud Response Time Average time to respond to a suspected case of fraud. |
No information available | |
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Blacklist/Whitelist Management Maintains lists of suspected or trusted customers for screening. |
Blacklist/whitelist management included as screening options in configuration UI. | |
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Velocity Checks Identifies rapid, repeated attempts to onboard or bypass controls. |
Velocity checks configurable as part of fraud rules management. | |
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Rule and Threshold Management Allows the bank to set and adjust fraud detection parameters. |
Rules and thresholds are fully user-configurable for fraud and risk detection. | |
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Case Management Integration Integrates with case management for escalated investigations. |
Case management and escalation features advertised for fraud/AML. |
Monitoring & Ongoing KYC
(9 Yes /9 Known /10 Possible features)
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Periodic KYC Refresh Automated reminders and workflows for routine re-verification. |
Automated reminders and periodic refresh for KYC described in solution overview. | |
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Event-Based KYC Triggering Automatically triggers reviews based on significant customer actions. |
Event-driven triggers supported for ongoing KYC review. | |
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Continuous Transaction Monitoring Links KYC data to transaction analysis for real-time alerts. |
Continuous transaction monitoring is a central part of FCCM architecture. | |
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Change Detection Detects and flags changes to customer information. |
Change detection modules actively monitor changes in customer information. | |
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Ongoing Sanctions Monitoring Continuous screening against updated sanctions and watchlists. |
Continuous sanctions list updates and real-time screening provided. | |
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Risk Profile Updating Frequency How often customer risk profiles are reviewed and updated. |
No information available | |
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Automated KYC Reminders Automatic notifications sent to customers for compliance tasks. |
KYC reminder automation is available and configurable. | |
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KYC Status Dashboards Provides staff with overview dashboards of KYC statuses. |
Staff dashboards with real-time overviews featured in marketing materials. | |
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Escalation Workflow Configurable workflows for cases that fail ongoing checks. |
Escalation workflows are configurable for failed or risky cases. | |
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Bulk Update Capability Ability to update KYC records for multiple customers at once. |
Bulk updates supported through admin interfaces and APIs. |
Analytics & Reporting
(9 Yes /9 Known /10 Possible features)
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Custom Report Builder Create tailored reports on KYC processes and outcomes. |
Custom reporting tools and report builder capabilities are documented. | |
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Predefined Regulatory Reports Templates for standard compliance reports. |
Standard regulatory report templates available, e.g., for SAR, CTR. | |
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Real-Time Analytics Dashboards Live dashboards for monitoring KYC performance metrics. |
Live dashboards for KYC/AML/transaction monitoring reported. | |
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Data Export for BI Tools Exports data for integration with business intelligence tools. |
Export of operational and compliance data supported for BI and data science. | |
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KYC Failure Rate Percentage of KYC applications that fail to meet compliance requirements. |
No information available | |
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Average Verification Time Report Analysis of time taken for verification steps. |
Average and detailed verification/reporting time analysis available in dashboards. | |
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Trend Visualization Visualizes changes in KYC-related KPIs over time. |
Trend and KPI visualization exist in the analytics/reporting suite. | |
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Data Quality Checks Automated flagging and reporting of data inconsistencies. |
Automated data quality flagging available per compliance analytics. | |
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User Audit Logs Exportable activity logs for user actions. |
Audit logs for user actions are exportable and included in compliance trail modules. | |
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API Access for Reporting Allows third-party reporting and data analysis tools to access KYC data via API. |
API access provided for integration with banks' reporting and analytics systems. |
Scalability & Performance
(6 Yes /6 Known /10 Possible features)
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Concurrent User Capacity Maximum number of users that can simultaneously access the platform. |
No information available | |
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KYC Processing Throughput Number of KYC verifications processed per hour. |
No information available | |
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System Uptime SLA Guaranteed system uptime as per service agreement. |
No information available | |
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Cloud Deployment Support Can be deployed in cloud environments for scalable infrastructure. |
Supports cloud native and on-premise deployment for scalability. | |
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Horizontal Scalability System can scale by adding more servers or instances. |
Platform is horizontally scalable according to solution architecture documentation. | |
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Disaster Recovery RPO Recovery Point Objective in case of disaster. |
No information available | |
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Elastic Resource Allocation Automatically adjusts resources based on workload. |
Cloud version supports elastic resource allocation and scaling based on demand. | |
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Load Balancing Distributes workload evenly across system resources. |
Built-in load balancing described in technical FAQ and architecture diagrams. | |
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Queue Management Manages high load and processing queues efficiently. |
Queue and batch management for high transaction volumes mentioned. | |
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Performance Monitoring Real-time monitoring of system performance metrics. |
Performance dashboards and monitoring are provided in the platform. |
Vendor Support & Maintenance
(8 Yes /8 Known /10 Possible features)
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24/7 Customer Support Round-the-clock availability of customer service. |
Oracle provides 24/7 support for enterprise compliance customers. | |
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Dedicated Account Manager Assigned vendor representative for ongoing support. |
Dedicated account management is part of Oracle's premium enterprise offering. | |
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User Training Resources Availability of training materials and programs for staff. |
Training resources and onboarding are provided to client teams. | |
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Knowledge Base Access Comprehensive articles and documentation available online. |
Comprehensive online knowledge base access for support and learning. | |
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Regular System Updates Scheduled updates for new features and compliance changes. |
Regular system and compliance feature updates as part of the Oracle roadmap. | |
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Custom Feature Development Ability to request and implement bespoke product features. |
Custom feature and workflow development available as part of implementation projects. | |
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Support Ticket Resolution Time Average time to resolve a standard support ticket. |
No information available | |
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SLAs for Issue Escalation Contracted timeframes for addressing critical issues. |
No information available | |
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User Community Forum Online forum for peer support and knowledge sharing. |
User community forums available for Oracle product users and partners. | |
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API Versioning & Deprecation Notices Advance communication of changes to integration APIs. |
API versioning and deprecation notices are standard Oracle practice for integrations. |
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