Forrester Research has recognized Oracle as a Global Power Seller for 2008

[Andrew]

In its May 2009 independent report, “Global Banking Platform Deals 2008: Setting The Stage In A Maturing Market,” Forrester Research has recognized Oracle as a Global Power Seller for 2008 banking platform deals.

Forrester Research defines Global Power Sellers as leaders with “more than 35 new banking platform clients in at least six regions of the world in 2008.” Only Oracle and one other vendor were designated as Global Power Sellers out of the 17 companies surveyed for the report.

“Forrester Research’s recognition of Oracle as a Global Power Seller is a significant accomplishment and reflects the combined strength of our solutions, unmatched banking sector expertise and global reach,” said Rajesh Hukku, Senior Vice President and General Manager, Oracle Financial Services. “The fact that the report identified Oracle as having nearly 50 percent more counted global banking platform deals for 2008 than the next closest vendor surveyed provides great recognition for our strategy of delivering complete, open and integrated solutions that address our financial services customers’ most critical business requirements.”

According to the report, Oracle won a total of 62 counted deals with new clients, twenty more than the next closest vendor.

The Forrester Research report cites Oracle as a top-tier financial services vendor based on report evaluation criteria that includes banking platform functionality, banking-specific functionality, only deals signed in 2008 as well as new, named customers.

In the report, Forrester Vice President, Principal Analyst Jost Hoppermann states that, “2009 may bring new interest in banking platforms. Reasons include the need to build a banking platform after a complex merger or acquisition as well as the need to consolidate operational costs for a bank’s international subsidiaries.”

[Andrew]

Forrester surveyed 17 vendors of globally deployed banking platforms on their 2008 deals. The outcome? The two top groups remained largely unchanged: Oracle and Temenos are the two Global Power Sellers; while the “old” Global Challengers Infosys Technologies, SAP, and Tata Consultancy Services Financial Solutions (TCS FS) have to welcome the most recent member of their group — SunGard. At the same time, survey newcomer Nucleus Software joined the Pursuers group with a strong survey result. The bottom line: In spite of these very visible global players, banking platform selection has become more difficult, as the market consolidation — accelerated by the ongoing crisis — makes vendor scrutiny even more crucial.