Oracle Corp. has become a bogeyman to America's traditional financial services vendors, with executives and analysts alike frequently speculating about what the $23 billion firm, which has spent a lot of money in the past few years gobbling up tech companies that play in the financial services tech space, will do to increase its stamp on one of the most lucrative sectors in the technology business.

Oracle's mid-decade acquisitions of a majority stake in Mumbai-based i-flex solutions, which offers an open architecture banking core, PeopleSoft, and CRM giant Siebel Systems, which gave it branch, teller and contact management capabilities, seemed harbingers of a sweeping move deep into bank technology. Even its 2009 deal to acquire Java-giant Sun (which just passed muster with European Union regulators in January) was viewed as evidence of its impending force in financial services, given Sun's impressive penetration of the sector. Not to be forgotten is the company's claim that 20 of the top 20 banks run Oracle databases.

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