Expertise In
Financial Services Sector
Sector Overview
Financial services organisations, including banks, insurers, and asset managers, face growing regulatory pressure, rising costs, and the need to accelerate cloud adoption while meeting compliance requirements from bodies such as the FCA and PRA.
Fusion Practices brings deep Oracle Cloud expertise and a strong delivery track record across global financial institutions, with experience in complex multi-entity, multi-currency, and multi-GAAP environments.
Current Sector Priorities
The following priorities are shaping technology investment decisions across banking and insurance in 2025ā2027:
Ā
Regulatory Compliance & Reporting Transformation
- RIFRS 18, effective from 1 January 2027, replaces IAS 1 and introduces new income statement subtotals and disclosure requirements, requiring changes to ERP chart of accounts and reporting structures.
- RIFRS 17 and Solvency II continue to drive complex actuarial and financial data integration needs, requiring robust sub-ledger and reporting architectures.
- RIn the UK, Making Tax Digital (MTD) is extending to income tax from April 2026, requiring direct HMRC submissions, which are not natively supported in standard Oracle Cloud.
- RGlobally, e-invoicing mandates are expanding, with over 60 countries adopting structured formats such as UBL 2.1 and PEPPOL, requiring compliant, certified solutions across jurisdictions.
Cloud Modernisation & Legacy Migration
- RMany banks and insurers are still running Oracle E-Business Suite (EBS) or legacy on-premise ERP systems and seeking to migrate to Oracle Cloud SaaS. Multi-geography, multi-entity migrations require careful data migration strategy, parallel running, and phased cutover.
- RHybrid technology landscapes-with source systems such as Murex, Calypso, Workday, SAP Concur, or proprietary trading platforms-require sophisticated Oracle Accounting Hub integrations to centralise financial accounting without replacing mission-critical systems.
Financial Close, Consolidation & Account Attestation
- RFinancial close acceleration is a board-level priority across the sector. Finance teams are under pressure to reduce close cycles, eliminate manual reconciliations, and produce consolidated management and regulatory packs faster. Oracleās Financial Consolidation and Close Cloud (FCCS) and Account Reconciliation Cloud Service (ARCS) directly address this.
- RAccount attestation-the process by which account owners formally certify the accuracy and completeness of balance sheet accounts at period end-remains heavily manual at many banks and insurers. Oracle ARCS automates certification workflows, risk-based reconciliation cycles, and escalation management, replacing email-based sign-off processes with a governed, auditable platform.
- RTransaction Matching within ARCS automates high-volume reconciliations including bank statement matching, intercompany reconciliations, and subledger-to-GL tie-outs-reducing reconciliation effort by 60ā80% in typical deployments.
Intelligent Finance Automation
- RAI-driven automation is transforming accounts payable workflows. Oracleās Payables AI Agent uses machine learning to automate invoice matching, exception handling, and approval routing, materially reducing manual processing time and error rates.
- RProcure-to-pay and invoice-to-cash cycle optimisation is a top priority, particularly in organisations with high invoice volumes, complex supplier networks, or decentralised purchasing.
Complex Planning, Budgeting & Revenue Modelling
- RBanks and insurers operate some of the most complex financial planning environments of any sector. Revenue is driven by interest rate models, actuarial assumptions, investment returns, and product mix-all of which require sophisticated driver-based planning that static spreadsheets cannot support reliably.
- ROracle Enterprise Planning Cloud enables organisations to build integrated financial plans covering revenue forecasting, expense and capital budgeting, workforce planning, and rolling forecasts-all connected to the underlying Oracle Cloud ERP actuals for true plan-versus-actual analysis.
- RScenario modelling and stress testing are increasingly mandated by regulators and expected by boards. Oracleās planning platform supports unlimited scenarios and what-if analysis, enabling finance teams to respond rapidly to changing market conditions.
Multi-Geography Financial Consolidation
- RGlobal financial institutions require simultaneous accounting in IFRS and local GAAP across multiple jurisdictions. Oracleās Accounting Hub and General Ledger provide the foundation, but effective implementation requires deep knowledge of multi-reporting standards, intercompany eliminations, and currency revaluation.
- RRegulatory reporting obligations vary by jurisdiction, requiring flexible reporting architectures that can adapt to changing local requirements without costly system changes.
Data Security, Segregation of Duties & Audit Readiness
- RFCA, PRA, and SM&CR (Senior Managers and Certification Regime) obligations require robust role-based access controls, segregation of duties, and full audit trails within finance and HR systems.
- ROracle Cloudās security model, when properly configured, provides granular data access controls and automated audit logging-but many organisations are under-utilising these capabilities post go-live.
Services We Offer
Fusion Practices provides end-to-end Oracle Cloud services tailored to the specific needs of banking and insurance organisations.
Our services span the full delivery lifecycle from strategy through to managed support.
| Sector Priority | Fusion Practices Services & Solutions |
| Regulatory Compliance (IFRS 18, IFRS17, Solvency II, MTD) | IFRS 18 Advisory & Oracle Enhancements; MTD bolt-on integration with HMRC; sub-ledger accounting design for IFRS 17 / Solvency II; IFRS / local GAAP dual-reporting configuration. |
| E-Invoicing Mandate Compliance | Oracle UBL 2.1 e-invoicing with certified partners; PEPPOL network connectivity; AP and AR e-invoice workflows across jurisdictions |
| Cloud Migration & ERP Transformation | Oracle Cloud Financials implementation (GL, AP, AR, FA, Cash, Expenses); Oracle EBS to Cloud migration; multi-entity, multi-currency deployments; data migration accelerator |
| Oracle AFCS & Accounting Hub | Oracle Financial Services Accounting Foundation Cloud Service (AFCS) and Fusion Accounting Hub to unify, standardise and enrich financial data from multiple source systems; flexible subledger rules engine for banks and insurers; Oracle PaaS integration for trading platforms (Murex, Calypso) and other platforms and proprietary systems |
| Financial Close & Consolidation | Oracle Financial Consolidation and Close Cloud (FCCS) for multi-entity period-end close; intercompany eliminations; consolidation journals; regulatory and management close packs |
| Account Attestation & Reconciliation Automation | Oracle Account Reconciliation Cloud Service (ARCS) deployment; automated balance sheet attestation and sign-off; transaction matching for bank, intercompany and subledger reconciliations; risk-based reconciliation cycles |
|
Planning, Budgeting & Revenue Modelling
|
Oracle Enterprise Planning Cloud for complex revenue modelling, expense budgeting and capital budgeting; driver-based financial plans; workforce planning; rolling forecasts; scenario analysis |
|
Intelligent Finance Automation
|
AI-powered Payables Agent; touchless invoice processing; automated BACS / SEPA payment file generation; self-service procurement |
|
Oracle HCM & Payroll
|
HR and payroll for financial services; SM&CR certification workflows; Core HR, Absence, Performance, Compensation, Recruitment |
Sector Accelerators
Fusion Practices has developed a portfolio of proprietary accelerators that reduce implementation risk, accelerate time to value, and address specific regulatory requirements. The following accelerators are particularly relevant to financial services organisations.
ā” E-Invoicing Accelerator-Oracle UBL 2.1 with Partner Network
Pre-built Oracle Cloud Financials accelerator enabling structured e-invoicing (UBL 2.1 / PEPPOL), with automated validation, AP/AR processing, and certified network integration.
š¬š§ Making Tax Digital (MTD) Bolt-on for Oracle Cloud
Oracle Cloud Financials bolt-on enabling direct HMRC API submissions for MTD (VAT and Income Tax), with automated filings, obligation tracking, and multi-entity support.
š IFRS 18 Advisory & Oracle Enhancement Package
Oracle Cloud Financials accelerator for IFRS 18 compliance, enabling income statement restructuring, MPM disclosures, and chart of accounts redesign.
š¤ Oracle Payables AI Agent-Intelligent Invoice Automation
Oracle Cloud Payables AI accelerator enabling automated invoice processing, matching, approvals, and payment execution with minimal manual intervention.
š Oracle AFCS & Fusion Accounting Hub-Unified Financial Data for Banking & Insurance
Oracle Accounting Hub accelerator leveraging AFCS and Fusion Accounting Hub to unify, standardise, and automate multi-source financial data for compliant, multi-GAAP reporting.
š Financial Close & Consolidation (Oracle FCCS)
Multi-entity consolidation | Period-end management | Regulatory & management reporting
- ROracle Financial Consolidation and Close Cloud (FCCS) is purpose-built for multi-entity financial groups-enabling banks, insurance holding companies, and financial conglomerates to consolidate results across legal entities, geographies, and reporting frameworks
- RManages the complete period-end close process: task management with assignees and deadlines, status tracking, journal entry, intercompany eliminations, currency translation, and minority interest calculations-all within a single governed platform
- RSupports simultaneous consolidation under multiple accounting standards (IFRS, US GAAP, local statutory) from a single data set, with full audit trail of all adjustments and eliminations
- RPre-built consolidation rules for complex financial structures including partial ownership, minority interests, equity method investments, and intragroup trading eliminations-critical for diversified financial services groups
- RTight integration with Oracle Account Reconciliation (ARCS) means that the close process gate-checks on reconciliation completion status before allowing consolidation to proceed-enforcing process governance automatically
- RFusion Practices delivers FCCS implementations with pre-configured close task libraries, consolidation rule templates, and management reporting packs tailored to financial services organisations-significantly reducing time-to-value
š Planning, Budgeting & Revenue Modelling (Oracle Enterprise Planning Cloud)
Driver-based planning | Revenue models | Capital budgeting | Workforce planning | Scenario analysis
- ROracle Enterprise Planning Cloud provides the financial planning foundation for complex banking and insurance organisations-replacing fragmented spreadsheet models with a connected, governed planning platform that integrates directly with Oracle Cloud ERP actuals
- RRevenue modelling for financial services requires sophisticated driver-based logic: net interest income models, premium and claims forecasting, fee income projections, and investment return assumptions all need to flow into a coherent integrated financial plan
- RExpense budgeting and capital expenditure planning are fully integrated-enabling finance to build a complete P&L and balance sheet plan, with headcount and workforce cost models driven by HR data from Oracle HCM Cloud
- RRolling forecasts replace the traditional annual budget cycle with continuous re-forecasting against actuals, allowing finance teams to respond rapidly to market movements, interest rate changes, or claims events without restarting the planning cycle
- RScenario modelling and stress testing capabilities allow boards and CFOs to model multiple economic scenarios simultaneously-critical for regulatory capital planning, ICAAP submissions, and board risk appetite frameworks
- RFusion Practices brings deep expertise in configuring Oracleās planning engine for financial services-specific revenue and capital models, accelerating deployment through pre-built calculation templates, driver libraries, and financial services planning frameworks
Client Case Studies
The following case studies demonstrate Fusion Practicesā track record in delivering complex
Oracle Cloud programmes for leading financial services organisations globally.
Mitsubishi UFJ Financial Group (MUFG)
Banking | Global Tier 1 Investment Bank
Scope & Solution
- RMulti-geography Oracle Cloud implementation across EMEA (UK, Netherlands, France) and Americas (USA, Canada)
- ROracle Cloud Financials: General Ledger, Accounts Payable, Accounts Receivable, Fixed Assets, Expenses
- ROracle Accounting Hub for streamlined FX product accounting and sub-ledger integration
- ROracle Procurement Cloud: self-service procurement, touchless purchasing, BACS payment automation
- ROracle PaaS integrations with Murex, SAP Concur, Workday, and legacy EBS
- RData migration accelerator-7 countriesā historical data migrated within 6 weeks
- RIFRS and UK GAAP simultaneous reporting architecture designed and deployed
- RManaged support: 24/7 on-call, L2/L3 production support, 25 continuous service improvements delivered
Key Benefits
- REnd-to-end integrated P2P and R2R solution replacing fragmented legacy landscape
- RMonth-end close window significantly reduced, delivering faster management information
- RIFRS and local GAAP compliance across 5 countries from a single Oracle instance
- RAutomated Accounting Hub postings eliminated manual journal processing
- RSpend analytics, asset reconciliation, and P&L attribution reports delivered in Oracle
- RData migration timelines reduced by up to 50% using Fusion Practicesā accelerator
- R25 continuous service improvements implemented during BAU managed support
Pension Insurance Corporation (PIC)
Insurance | UK Specialist Insurer | Ā£51.1bn AUM
Scope & Solution
- RFull Oracle Cloud suite implementation: HCM, Payroll, Financials, Procurement, EPM (Planning & Consolidation) and Accounting Hub
- RChart of accounts design tailored for insurance regulatory reporting (IFRS 17, IFRS 4, Solvency II)
- RIntegration architecture design: Oracle Cloud to Power BI analytics platform
- RSM&CR (Senior Managers and Certification Regime) certification workflow within Oracle HCM
- ROracle Cloud data platform design and implementation
- RCloudTestMate automated regression testing: 400+ automated test scripts for quarterly patch cycles
- RIntegration & reporting architecture for actuarial data and investment portfolio reporting
- ROngoing managed support post go-live
Key Benefits
- RSingle integrated platform replacing siloed HR, payroll, and finance systems
- RIFRS 17, IFRS 4 and Solvency II reporting enabled within Oracleās reporting architecture
- RSM&CR compliance embedded directly into Oracle HCM workflows
- RQuarterly patch cycles completed in hours rather than days using CloudTestMate
- RReal-time Power BI analytics integrated with Oracle Cloud financials and HR data
- RScalable platform supporting PICās significant headcount and assets under management growth
- RRobust data security and segregation of duties aligned to FCA/PRA expectations
Emirates NBD
Banking | UAEās Leading Financial Services Brand | AED 836bn Total Assets
Scope & Solution
- ROracle HCM Cloud implementation across multiple international entities
- RModules: Core HR, Absence Management, Oracle Payroll, Talent Management, Learning, Helpdesk, Employee Engagement, Oracle Recruiting Cloud (ORC)
- RTransfer and Role Change journey redesign- streamlining compliance approvals across Risk, Compliance, and HR teams
- RData roles and security remediation-aligning Oracle security to FCA/CBUAE standards
- RPosition synchronisation enabled across all employees for payroll data accuracy
- RORC enhancements: auto-complete rules, automated Onboarding progression, built-in recruiting dashboards
- RResolution of 100+ report inaccuracies across HR, ORC, and Learning modules
Key Benefits
- RSignificantly reduced time and complexity for employee transfers and role changes
- RCorrected data security model-restricting sensitive role data to authorised personnel
- REliminated payroll errors caused by position data mismatches, ensuring accurate payment processing
- RAutomated recruitment progression reduced manual intervention in candidate management
- R100+ critical reports remediated and delivering accurate, reliable operational data
- ROngoing collaboration enabling continuous improvements across ENBDās global entities
Why Fusion Practices
For Financial Services
Deep Sector Expertise
Proven delivery for Tier 1 banks, specialist insurers, and global financial institutions. We understand complex multi-entity, multi-GAAP environments and regulatory reporting requirements.
Global Delivery Capability
Multi-geography deployments across EMEA, Americas, and Middle East. Experience integrating Oracle with trading systems, payment platforms, and third-party applications across 5+ jurisdictions simultaneously.
Proprietary Accelerators
Purpose-built accelerators including Oracle AFCS & Accounting Hub, ARCS account attestation, FCCS financial close, IFRS 18 enhancements, MTD bolt-on, E-Invoicing (UBL 2.1), and Payables AI Agent-reducing implementation timelines and compliance risk.
Managed Support & Continuous Improvement
SLA-backed 24/7 managed support with CloudTestMate automated quarterly patch testing. Proactive continuous service improvements ensure your Oracle Cloud investment delivers increasing value over time.