Friday, June 5, 2009

Forrester Names Oracle A Global Power Seller

Oracle Financial Services has been recognised as a global power seller for 2008 banking platform deals by Forrester Research.

In its May 2009 independent report, ''Global Banking Platform Deals 2008: Setting The Stage In A Maturing Market'', Forrester Research defined Global Power Sellers as leaders with ''more than 35 new banking platform clients in at least six regions of the world in 2008''. Only Oracle and one other vendor were designated as Global Power Sellers out of the 17 companies surveyed for the report.

According to the report, Oracle won a total of 62 counted deals with new clients, twenty more than the next closest vendor.

The Forrester Research report cites Oracle as a top-tier financial services vendor based on report evaluation criteria that includes banking platform functionality, banking-specific functionality and only deals signed in 2008 as well as new, named customers.

In the report, Forrester Vice President, Principal Analyst Jost Hoppermann states that, ''2009 may bring new interest in banking platforms. Reasons include the need to build a banking platform after a complex merger or acquisition as well as the need to consolidate operational costs for a bank's international subsidiaries''.

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