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Dolat Capital Report
Chairman's Addresses Tech led Biz. momentum
Oracle Financial Services Software Ltd. had a strong FY23, with revenue increasing by 9% to Rs 57 billin driven by the company's continued investment in new products and services, such as Oracle Banking Cloud Services (increased adoption), as well as its expansion into new markets.
Oracle Financial Services also won several awards for its products and services, demonstrating its commitment to innovation and leadership (was recognized as global leader in RiskTech).
Innovations in Oracle Banking Cloud Services (a new suite of cloud -based services) will help banks renovate and modernise their business capabilities.
Oracle Financial Services' customer service and engagement offerings deliver an optimal mix of persona -driven digital self -service and assisted engagement capabilities, artificial intelligence/machine learning and automation -powered product and core operations coupled with an architecture that is anchored on micro -services.Chairman's Addresses Tech led Biz. momentum
Outlook
Oracle Financial Services' performance in FY23 has been healthy despite revenue impact of shift towards software-as-a-service based offerings. However, this shift augurs well for the company as it reduced uncertainty (license revenue led) with increased recurring revenue, and in turn helps lower upfront investment for client.
The global leadership in underpenetrated core banking solutions business, unmatched access, superior technology, continue to comfort us that Oracle Financial Services can emerge as most preferred vendor in the segment. Examining Q4 FY23 run -rate, it suggests possibility of high single digit growth in FY24.
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