OCBC, Southeast Asia’s second largest financial services group by assets, is using Oracle Fusion Cloud Enterprise Resource Planning (ERP) to support its purpose to enable people and communities to realize their aspirations. With Oracle Cloud ERP, OCBC has unified its global finance platform to increase efficiency and enhance decision-making, as it continues to strengthen its ASEAN-Greater China network.

Formed in 1932 and headquartered in Singapore, OCBC has close to 420 branches and representative offices across 19 countries and regions. To enhance its operational efficiency and align its financial processes globally, OCBC turned to digitalization to transform its capabilities, moving away from manual processes. OCBC chose to implement Oracle Cloud ERP to streamline and automate its finance operations and reporting for improved organizational effectiveness.

“We have a comprehensive banking, wealth management, insurance and asset management franchise that sets the OCBC Group apart from our peers. It is imperative that we work together as ‘One Group’ to drive synergies that will foster growth. To achieve this, our finance teams across various entities and geographies will need a unified and agile global finance platform,” said Goh Chin Yee, group chief financial officer, OCBC. “Oracle Cloud ERP provided this solution, with capabilities to automate our finance operations and reporting, enabling us to harness the power of data analytics and artificial intelligence (AI). With regular refresh and updates to these capabilities, we will be able to respond swiftly to changes in our operating environment, remain competitive while ensuring compliance with regulatory and accounting changes.”

With Oracle Cloud ERP, OCBC has increased productivity and improved controls. Oracle Fusion Cloud Enterprise Performance Management (EPM), part of Oracle Cloud ERP, has also enabled OCBC to align its financial consolidation and reporting processes.

“It is becoming increasingly essential for financial institutions to embrace new technologies to drive innovation and transformation, unlock new business opportunities and stay ahead of the always-evolving regulatory landscape,” said Adrian Johnston, senior vice president, Applications, Oracle Asia Pacific. “With Oracle Cloud ERP, OCBC has embraced automation and embedded AI to increase efficiency, expand insights and accelerate decision-making as it expands into new markets worldwide.”

More than 10,000 organizations, across public and private sectors, turn to Oracle Cloud ERP to run their businesses. Oracle Cloud ERP offers a comprehensive set of enterprise finance and operations capabilities and embedded AI that powers touchless processes, predictive insights, and collaborative actions. With financials, accounting hub, procurement, project management, enterprise performance management, risk management, subscription management, and supply chain management & manufacturing capabilities on a single platform, and Oracle B2B – which revolutionizes the way organizations transact, pay, finance, and ship sustainably across the globe – organizations can standardize processes, embrace automation, and increase efficiency.