BME, the operator of all securities markets and financial trading systems in Spain, has chosen Oracle's technology to revamp its internal financial platform.
The new platform, which is at the forefront of the European exchange industry, incorporates cloud-based services. These new functionalities will be applied to internal invoicing, comptroller and financial management systems, among others.
Through this initiative BME overhauls its technology in order to be a step ahead of the challenges posed by the digital transformation process in which the financial sector is immersed - where the cloud and data analysis are becoming a new trend - and makes progress towards meeting the challenges established under its Strategic Plan.
After assessing different alternatives BME has opted for Oracle’s ERP Cloud technology as it is an end-to-end cloud platform, which guarantees the governance and the traceability of data and workflows integrated into the entire organisation.
The new solution incorporates Business Intelligence capabilities in real time, which offer better visibility of the business and contribute to optimising all processes related to decision making.
"The innovative approach of Oracle's business applications supports our continuous digital transformation efforts”, stated Marta Bartolomé, BME's CFO, who added that the use of this technology "will allow us to face new challenges with an innovative approach in which financial management plays an essential role to boost the agility of the company".
The project is being implemented by KPMG, which has extensive experience in financial markets and in close collaboration with Oracle.