VIENNA, Va.–Navy Federal Credit Union has selected Oracle for its cloud and account servicing technology.
As part of the agreement, the $168.4-billion Navy FCU, the world’s largest, will leverage four different Oracle solutions, according to the company.
The Solutions
Those solutions include:
- Oracle Banking Account Cloud, which Oracle said is a “hyperscale accounts platform” capable of optimizing account management and operation with the ability to process more than 300 transactions per second.
- Oracle Fusion Cloud Enterprise Resource Planning (ERP) system, which Oracle says “intelligently automates labor-intensive tasks” including expense reporting, project management, and risk and compliance.
- An ERP system to be hosted on Oracle Cloud Infrastructure (OCI), which is also being integrated via Software-as-a-Service (SaaS) to achieve additional automation across deposits, consumer lending, and its finance processes.
- Oracle Fusion Cloud Human Capital Management (HCM), a suite of products including human resources, talent and workforce management, and payroll functions, according to the company.
Navy FCU has more than 13-million members.