The decision to purchase a new application for your business can be complex and confusing. It is essential to compare the different solutions on offer in order to find the one that best meets your needs.
This article will discuss Oracle Flexcube and Alacra Compliance Enterprise, two solutions designed specifically for compliance departments. We’ll provide some information about each solution so you can get an idea of how they work and what they have to offer you or your organization’s compliance department.
What is Oracle Flexcube?
Oracle Flexcube is a software solution created for compliance departments by Oracle, a market leader in enterprise application software. The Flexcube implementation was designed with compliance in mind, so it features capabilities for controlling every channel. It also offers behavioral analytics to uncover actionable insights about customer/member behavior.
Oracle Flexcube features
• Ease of use
Flexcube’s ease of use is one of the reasons it’s such a popular choice for compliance departments. It can be configured and used by non-technical employees; no coding is required.
• The Costs
Flexcube is, on average, 50% less expensive than other similar software solutions, making it cost-efficient as well as easy to use. But don’t worry – Flexcube also comes with all the features you need, including support from experts who are always available to help you get up and running quickly at no extra charge!
• Add-ons
Add-ons are available to make your job even easier. From integrations with other systems like document repositories and learning management software (LMSs) to custom reports, Flexcube has you covered!
• User experience
Flexcube’s user interface is designed around the way compliance professionals work – providing consistency across processes without sacrificing customization or configuration options. This provides users with an excellent end-user experience while ensuring they get exactly what they need from their system.
• Behavioural analytics
Flexcube’s behavioral analytics allow you to monitor and assess behavior in real-time. This allows for targeted communication and engagement with your customers or members so that they get the information, products, or services they need when they need them!
• Architecture
Oracle Flexcube software offers a unique architecture allowing users to connect databases from across an organization into one central system. From there, you can manage every channel – mobile apps, websites, email marketing campaigns, and more!
• Controlling every channel
One of Oracle Flexcube core banking’s most powerful features is its ability to control all channels through which members interact with your brand. With everything connected in one place: website visitors automatically become leads; sources are recorded; contacts turn into customers; customers are associated with the appropriate products or services.
• Customer/member-oriented processes
Oracle Flexcube was designed to allow users to create custom workflows for their business, ensuring that every single member of your organization receives a tailored experience. This ensures they receive the information and offers they want, where and when it is most relevant!
• Actionable insight
The flexibility and scalability of Oracle Flexcube allow users to change their business processes quickly and enable them to analyze the performance trends of those changes. The platform provides access to many contextual data points, which you can use to identify behavioral patterns in your customers or members!
What is Alacra Compliance Enterprise?
Alacra Compliance Enterprise was designed with compliance departments in mind and had many of the same characteristics that Flexcube boasts, such as ease of use and cost-effectiveness. Additionally, it is built on an open technology stack that makes integrating into your existing systems easy. This solution’s strong suit lies in its ability to control all channels through one single interface without compromising performance or scalability levels.
Alacra Compliance Enterprise features
• Ease of use
Alacra takes ease of use further by giving customers more control over how data appears on the screen. It can be manipulated in many ways, including via drag and drop functionality for more visual users.
• The Costs
Alacra is a more expensive option than Flexcube, but the price tag may be a worthwhile investment for larger organizations.
• Add-ons
Alacra has an extensive list of add-on features that allow customers to get real value from their investments, including email marketing and product information management (PIM). On the other hand, FlexCube doesn’t have any additional modules since it serves as a platform for building custom applications according to individual companies’ requirements.
• User experience
Alacra has a more modern interface that is easy to use and understand. The FlexCube platform, on the other hand, can be overwhelming for users who are not familiar with database tools or business intelligence software.
• Behavioural analytics
The primary advantage of Alacra over Oracle Flexcube is its behavioral BI capabilities which provide organizations with information about how customers behave within their systems to make better decisions regarding product development, marketing campaigns, etc. On the other hand, there is no built-in reports/analytics functionality in FlexCube beyond what comes standard with any essential data warehouse toolkit.
• Architecture
Another advantage of Alacra is its in-built features which allow for better data management. With the flexible architecture, organizations can easily create new applications without changing existing ones or adding any additional resources. Flexcube doesn’t have an in-built feature for this, so it requires custom development from IT teams every time they want to add a new application.
• Controlling every channel
Additionally, Alacra offers integrated cross-channel campaign capabilities, including email marketing and social media campaigns, while FlexCube does not provide these features out of the box. Thus, though both tools are equally good at providing actionable insights on customer behavior within their systems, Alacra Compliance Enterprise offers more control over channels than Oracle Flexcube.
• Customer/member-oriented processes
Alacra is an all-inclusive compliance software solution designed to help businesses manage the entire process of data collection, enrichment, and distribution across platforms. As a result, Alacra Compliance Enterprise offers much better control over every channel than Oracle Flexcube.
• Actionable insight
Alacra is an all-inclusive compliance software solution designed to help businesses manage the entire process of data collection, enrichment, and distribution across platforms. In comparison, Oracle Flexcube offers a much more intuitive interface for end-users while offering fewer features that can be used in real-time by customer service professionals.
Conclusion
The Oracle Flexcube core banking vs. Alacra Compliance Enterprise decision can be difficult. That’s why we recommend getting in touch with us at JMR Infotech for more information on how our financial solutions can help you meet any of your business goals.
