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News: Citibank Japan and Oracle cash management solutions

This is not Oracle acquisition news, rather yet another Big news [1] this morning locally in Singapore for partnership with global bank Citibank Japan and Oracle for enhancing the Oracle Global Cash Management System,that provide a integrated solution for managing Cash Management for global manufacturing operations, retail, transportation, financial services sector of Japanese clients.

"Oracle Global Cash Management System" is SOA based product of Oracle Japan used for managing group corporate finance, fund management and financial risk management, financial transaction management function.

Some of the important Fund management features that product offers are : centralized group of companies in the financial management of pooling funds, payments to suppliers to pay a centralized agency, balances between group companies to make the difference between the settlement and netting capabilities.

"Oracle Global Cash Management System" available for local clients since October 1, 2007 with price tag 15 million yen for 4-user license,supported with most of available platforms(AIX, Solaris, HP-UX, RedHat Linux, Windows).

read this entire story [1]

As need for banking Integration is greatly felt in corporate world, and Lets hope, this might bring some more banking functionality in next releases of Oracle EBS ..what you say...