Oracle Financial Services has introduced a new metadata driven enterprise-modelling framework, which allows financial institutions to meet requirements, drive model development and deploy and reduce model management complexity.
The new Oracle Financial Services Analytical Applications R Modeling Framework is part of the Oracle Financial Services Analytical Applications Infrastructure and expands Oracle’s metadata driven approach to analytics and statistical modelling in R.
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The R Modeling Framework uses in-database Oracle R Enterprise engine to provide financial institutions with an open source R statistical platform and the ability to manage and govern enterprise model.
In addition to this, the solution offers other productivity, management and governance benefits to financial institutions.
Oracle Financial Services Analytical Applications group vice president, Sultan Khan, said as model complexity and regulatory scrutiny increases, organisations are looking for new ways to effectively manage and optimise their use across the enterprise.
"Oracle Financial Services Analytical Applications R Modeling Framework gives financial institutions new power to perform in-warehouse analytics and integrate model management into broader risk management initiatives, increase transparency and improve overall model governance and control," Khan added.
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