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BancABC implements Oracle FLEXCUBE Universal Banking Solution

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by R.B, Oct 7, 2012.

  1. R.B

    R.B JF-Expert Member

    Oct 7, 2012
    Joined: May 10, 2012
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    Mozambican lender BancABC has gone live with Oracle FLEXCUBE Universal Banking Solution
    Mozambican bank BancABC, formerly known as African Banking Corporation, has launched Oracle FLEXCUBE Universal Banking Solution as a state-of-the-art banking platform on which to support its retail and corporate banking operations.

    Officials said BancABC needed to upgrade its banking platform in order to take advantage of additional features and the latest technology within the Oracle FLEXCUBE Universal Banking and also reduce maintenance costs and enabling it to take new products and services to the market in a timely manner.
    With Oracle FLEXCUBE Solution, BancABC will be able to consolidate its banking environment and remove separate solutions focused solely on its retail banking branch by bringing all operations under one common banking platform.
    Also, the highly scalable infrastructure provided by the Oracle FLEXCUBE solution will enable BancABC to integrate its retail and corporate banking operations into one robust banking platform with standardised business processes and centralised banking operations, according to the bank.
    Oracle FLEXCUBE solution enhances interoperability with third party systems, including its retail branch application, meaning the bank is able to get a clear picture of all its operations across multiple countries.
    Due to Visa regulations in the region, the vendor undertook remote provisioning and implementation of the Oracle FLEXCUBE Universal Banking Solution through a secure VPN connection.
    “We have worked closely with Oracle for many years so it was an obvious choice for us at BancABC when we were looking to bring our retail and corporate operations on to one banking platform,” said Mr. Jerry Gezana, Group Head Process and Systems Innovation at BancABC.
    “In order to best service our customers across multiple markets, we needed to invest in a scalable and flexible core banking platform to reflect the current and prepare for the future market conditions. The implementation of Oracle FLEXCUBE allows us to do just that, and from our previous experience with Oracle we had no doubt we would have the solution that we needed to continue to successfully operate in such a competitive, growing market.”
    Mr. Chet Kamat, Managing Director of Oracle Financial Services Software said: “We are excited to see the successful go-live of Oracle FLEXCUBE Universal Banking Solution across all five countries for BancABC. We faced a marked challenge with visa applications, but found a way to provision the solution through a VPN connection, and worked closely with BancABC to ensure nothing set back the project,”
    BancABC operates a number of sub-Saharan Africa banks in five countries: Zimbabwe, Zambia, Botswana, Tanzania and Mozambique, offering a diverse range of financial services including personal, business and corporate banking as well as asset management, stock broking and treasury services