Oracle Financial Services Software has completed another very good year. On aconsolidated basis the Company's revenue stood at Rs 44 265 million this year anincrease of 7% over the previous year. We delivered a net income of Rs 11 854 million anincrease of 13% over the last financial we year. Through out the financial witnessedincreased demand for our solutions resulting in a solid year 30% growth in licensesignings in the financial year. This validates the relevance of our offerings to globalfinancial institutions as they transform to address digital disruption changing customerdemographics and heightened regulatory pressure.
Amongst the marquee wins in the year Westpac one of Australia's big four bankssigned an agreement to deploy Oracle Banking Platform along with several other Oracleapplications and cloud services for their Customer Service Hub program. National AustraliaBank (NAB) is utilizing Oracle Banking Digital Experience after successful deployment ofOracle Banking Platform and Oracle Financial Services Analytics Applications. A large U.S.based financial services firm selected Oracle FLEXCUBE to assist in managing itsmulti-currency custodial business. Agricultural Bank of China with 320 million retailcustomers 2.7 million corporate clients and nearly 24000 branches is China's thirdlargest lender by assets and ranked 8th among the top 1000 World Banks. The bank selectedOracle Financial Services Analytical Applications (OFSAA) to support national policy ofInterest Rate liberalization in China.
Our product capabilities continued to win acclaim for us as well as for our customers.Oracle Financial Services Analytical Applications was named Best Compliance Product of2016 by Risk.net and Operational Risk. The product was placed second and listed asCategory Winner on the Chartis RiskTech100 rankings. National Australia Bank(NAB) a long standing customer was the winner of the Celent Model Bank 2017 Award forcore legacy transformation. Partnering with Oracle NAB created a new Personal BankingOrigination Platform (PBOP) which supports the bank's entire range of consumer bankingproducts from current and savings accounts to credit cards personal loans andmortgages.
Cloud adoption continued to create a seismic shift in the businesslandscapeofthefinancialservices industry and your Company maintained its position as aninnovator with the launch of a new cloud ready solution Oracle Banking EnterpriseCollections.
We further improved our value proposition with significant enhancements to OracleFinancial Services Lending and Leasing applications available on Oracle Cloud. Cabel anIT service provider for the financial services industry in Italy since 1985 selectedOracle FLEXCUBE Universal Banking as the backbone of its private cloud core bankingsolution for the Italian banking sector.
We will continue to strengthen our cloud offerings ensuring our customers gain mostvalue from the cloud.
As digital connectivity begins to dominate the industry we are witnessing asignificant shift toward a new marketplace of customer choice third party services andopen data all of which requires flexible and innovative solutions. Your Company'sflagship product Oracle FLEXCUBE's open architecture enables banks to permit third partydevelopers to build and integrate their own apps so that the bank is equipped to competeeffectively in the new paradigm where new age fintechs are nibbling away theirtraditional businesses.
New releases of Oracle Financial Services Analytical Applications expanded our solutionfootprint for financial crime and compliance management. With continued emphasis oncompliance worldwide we enjoy market leadership in this segment.
Our focus on innovation and excellence helps us provide superior products and servicesfor a radically evolving financial services industry. As the industry is evolving rapidlywe continue to demonstrate a strong leadership setting the tone for growth in the yearahead.
On behalf of the Board of Directors and Management of Oracle Financial ServicesSoftware I would like to thank you for your support and look forward to your good wishesto help the Company to achieve its mission of being the most preferred technology partnerof banks across the world.
Oracle Financial Services Software Limited