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PITTSBURGH - PNC Bank announced Tuesday the integration of its PINACLE Connect embedded banking platform with Oracle Fusion Cloud Enterprise Resource Planning (ERP), enabling corporate and commercial banking clients to access key banking services directly within the Oracle system. Oracle, a prominent player in the software industry with $57.4 billion in revenue, has seen its stock surge 81% over the past year.
The integration uses Oracle’s B2B offering to provide connectivity that helps streamline financial operations by reducing the need for clients to switch between multiple platforms for balance inquiries, transaction information, payment initiation, and account reconciliation. The company’s strong market position is reflected in its robust 8.4% revenue growth over the last twelve months.
"We are committed to delivering innovative, secure and efficient solutions within PNC’s Treasury Management platform that integrate seamlessly into our clients’ workflows," said Howard Forman, executive vice president and head of PNC’s Commercial Digital Channels, in a press release statement.
The embedded banking experience aims to help clients manage their cash position more effectively while reducing time spent on establishing bank connectivity and handling manual financial tasks.
This development builds on PNC’s previous integrations with other ERP and treasury management systems, creating a more direct view of companies’ financial information.
Catherine You, group vice president at Oracle, noted that manual navigation between banking platforms and financial management systems can introduce friction, complexity and human error.
Oracle Cloud ERP provides enterprise finance and operations capabilities including financials, procurement, project management, and supply chain management. The system is currently used by more than 10,000 organizations.
PNC Bank is a member of The PNC Financial Services Group, Inc. (NYSE:PNC), while Oracle trades on the New York Stock Exchange (NYSE:ORCL). According to InvestingPro analysis, Oracle’s stock is currently trading near its 52-week high of $251.60 and appears overvalued based on its Fair Value metrics. For deeper insights into Oracle’s valuation and 20+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Oracle Corporation has seen a range of notable developments. Moody’s Ratings has affirmed Oracle’s Baa2 senior unsecured rating and P-2 commercial paper rating but revised the outlook to negative from stable. This change reflects expectations of elevated leverage and negative free cash flow as Oracle expands its AI infrastructure business. Oracle has also partnered with Bloom Energy to deliver onsite power to Oracle Cloud Infrastructure data centers in the U.S. using Bloom’s fuel cell technology, which aims to support the growing demand for AI and cloud computing services. Additionally, Oracle and OpenAI have teamed up to develop 4.5 gigawatts of additional data center capacity in the United States. Analyst firm Citizens JMP has reiterated a Market Outperform rating on Oracle stock, raising its price target from $240 to $315. These developments highlight Oracle’s ongoing efforts to enhance its data center capabilities and its strategic partnerships to support its AI and cloud services growth.
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