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Oracle Financial Services Software Ltd.

BSE: 532466 Sector: IT
NSE: OFSS ISIN Code: INE881D01027
BSE 00:00 | 28 Jan 3415.45 -12.10
(-0.35%)
OPEN

3475.00

HIGH

3509.10

LOW

3391.80

NSE 00:00 | 28 Jan 3414.20 -5.35
(-0.16%)
OPEN

3460.00

HIGH

3508.00

LOW

3390.10

OPEN 3475.00
PREVIOUS CLOSE 3427.55
VOLUME 22585
52-Week high 5144.60
52-Week low 2933.05
P/E 17.49
Mkt Cap.(Rs cr) 29,455
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 3475.00
CLOSE 3427.55
VOLUME 22585
52-Week high 5144.60
52-Week low 2933.05
P/E 17.49
Mkt Cap.(Rs cr) 29,455
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Oracle Financial Services Software Ltd. (OFSS) - Chairman Speech

Company chairman speech

Letter to Shareholders

On behalf of the Board of Directors I am pleased to report that forthe financial year ended March 312021 your Company posted consolidated revenue of Rs.49.8 billion. Consolidated net profit for the current financial year grew 20% over theprevious financial year to reach Rs. 17.6 billion.

We continued to show customer acquisition momentum across all businessareas - Corporate Banking Retail Banking Risk and Finance and Financial Crime. As theFinancial Services industry pivoted to digital faster than ever to meet customer demand ina new normal we responded with continued product innovation to launch more digital andcloud-based solutions. We also saw secular growth across regions highlighting ourproduct's universal acceptance flexibility and capability to service institutions ofmultiple types and sizes.

The global footprint and market leadership of Oracle FLEXCUBE continuesto expand with wins across the world. Banks across the United Kingdom Europe UnitedStates Japan and the Middle East chose us to drive working capital clarity for theircustomers and embark upon much-needed digitization of corporate banking. Our new solutionfor retail banks Oracle FLEXCUBE Onboarding enables them to deliver seamlesscross-channel consistent origination experiences over cloud and on-premise deployments.Oracle Banking Branch our latest solution for retail banks blurs the digital andphysical divide empowering bankers to take on an advisory role enrich customerrelationships and drive revenue growth.

Cloud technologies are gaining significant traction and during thelast fiscal we made significant investments in rapidly moving our solutions to cloud. Welaunched solutions for Liquidity Management Virtual Account Management and Supply ChainFinance as cloud services much ahead of the market. Banks can take advantage of thesesolutions to quickly deploy a wide range of banking services that help their corporatecustomers easily access their cash position and manage working capital at any time. Wealso launched Oracle Financial Crime and Compliance Management Cloud Services anapplication suite designed for midsized banks and smaller financial institutions. Itoffers services for the full anti-money laundering (AML) lifecycle where organizationscan quickly identify abnormal customer behavior and streamline compliance activities.

We added further momentum to our efforts to "build in"innovation for our customers. We now use machine learning and Artificial Intelligence('AI') as a core principle in our product development enhancing processes within oursolutions to help banks serve customers better and faster and drive their profitability.

The industry recognizes us for our marketing leadership productinnovation and customer success in multiple forums. Gartner continued to place us in theleader's category for Global Retail Core Banking. Of the six companies evaluated Oraclewas recognized as a Leader for its completeness of vision and ability to execute in themarket. We remain among the top three vendors in Chartis RiskTech100 report for thesixth consecutive year and were recognized as a winner in five solution categories —Core Technology Data Integrity and Control Financial Crime-AML IFRS 17-Data Managementand Reporting and Risk Data Aggregation & Reporting. Oracle Financial Services won‘Best Solution in Enterprise Risk Management' at Regulation Asia Awards forExcellence 2020.

We continued our mission to deliver customer success; we hadsignificantly large implementations that went live across the world. These implementationswere on time even with the challenges that came with remote working and no onsiteresources.

Your Company is in a good position to respond to market demands withthe right combination of domain expertise functional depth and a modern set of ITsolutions.

On behalf of the Board of Directors and Management of Oracle FinancialServices Software I would like to thank you for your support through this financial year.I look forward to your continued patronage as we chart a new path towards fulfilling ourmission of providing world-class solutions for the financial services industry.

Regards
S Venkatachalam
Chairperson
Oracle Financial Services Software Limited

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