Pros
Oracle TAG ! If you are looking for one. Apart from that, I don't see any pro. Please don't join Oracle Banking Platform, especially product development team. Some people are like really good, but they are always crushed by stupid ones.
Cons
Oracle Financial Services is a subsidiary of Oracle Corp (Oracle India), not the actual Oracle India. Oracle Banking Platform, a self proclaimed next generation banking platform is a failed product. It was supposed to be a banking platform suite for tier 1 banks, but it looks like an epic failure. The product is under development for over 6 years now. No bank bought it ! :) A social networking platform like Facebook with over billions of users was developed way faster than this! The reason for mentioning Facebook is coz the dev staff, particularly the higher management think of it as no less than Facebook <laughs>. Cheers ! Very arrogant management. Even the HR doesn't help once you get into this product development. (Ive heard a story where an employee complained and when the HR spoke to the manager, manager replied to HR .. "Fine, you get the product developed then". Managers abuse and talk. The will not hesitate to use fowl language ("F" words in particular") as prelude to your name. Deadlines and work timings: This part is completely messed up. You are supposed to be in office by 9:00 AM. People will expect you to be on your desk at 10:30 PM. Managers say and I quote "there is no such thing as work life balance". The supervisors won't hesitate to send you back home if you are late for work. Every 5 day work is expected in 1 day, regarding the deadlines. Appraisals: Need I say something. A culture like this will give rise to low appraisals. No growth. Only growth for people who are willing to dedicate their lives to a failed product. (That too 10% hikes, you really want that ? :) ) Above all, I felt that the self respect and dignity of an employee is brutally stamped on. They will do everything to snap your confidence and make you feel like a bonded labour. Not to mention, every saturday is a working saturday. So they will ensure that you don't go for any interviews or drives. Its a place where the time you spend at your desk matters more than the work and deliverables. Technically, the product has so many design and technical flaws that it will take ages to repair that. Any engineer working at this is treated to a humungous codebase which is like the worst code in the world. All the coding standards are thrown out of the window. They rely on powerful servers and oracle architecture to ensure high performance of a badly written code. (Exadata and Exalogic in particular). The product is an outcome of a bad SDLC, bad design etc. In the words of a friend, the SDLC here is like testing, then coding and then functional and then design :). Its going to be an epic failure as you can see. All in all, I feel that Oracle Banking Platform, prod dev is a team is going no where and will be scrapped in sometime. If you really want to join this. DO THIS AT YOUR OWN RISK.