Published in Science and Technology on Tuesday, January 31st 2012 at 11:31 GMT by Market Wire
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January 31, 2012 14:14 ET

Financial Institutions Select Oracle FLEXCUBE Solutions and Oracle Financial Services Analytical Applications to Optimize Operational Efficiency and Profitability, Elevate Customer Service and Reduce Risk

REDWOOD SHORES, CA--(Marketwire - Jan 31, 2012) - Oracle (NASDAQ: [ ORCL ])

News Facts

A growing number of financial services organizations worldwide are selecting [ Oracle Financial Services ] solutions, including [ Oracle FLEXCUBE ] and [ Oracle Financial Services Analytical Applications ], to help them innovate and achieve competitive differentiation, ensure regulatory compliance and deliver more personalized service and greater value to customers.

Recent Oracle Financial Services Customer Milestones

[ Nouvobanq has selected Oracle FLEXCUBE Universal Banking Solution and Oracle FLEXCUBE Direct Banking Solution to support the bank's growing retail and corporate banking operations ]. The bank's previous solution, used for the last 22 years, caused bottlenecks due to technology limitations that could not meet modern banking demands. The implementation of Oracle FLEXCUBE will help create new efficiencies visible throughout the bank's business.
[ Leading pan-African bank, Ecobank Transnational Inc., has implemented Oracle FLEXCUBE Universal Banking and Oracle FLEXCUBE Direct Banking solutions, as well as Oracle's Financial Services Risk Analytics ], to standardize its processing platform across its affiliates in 30 sub-Saharan African countries. Enabling Ecobank to service more than 7 million customers via more than 1,100 bank branches, this represents Oracle FLEXCUBE's largest multi-country implementation in Africa to date.
Banque Pour Le Commerce Exierieur Lao Public (BCEL) is preparing to implement Oracle FLEXCUBE Universal Banking on Oracle Exadata Database Machine to modernize its core banking system. BCEL's core banking modernization project is a critical milestone in increasing the bank's efficiencies around risk and growth management, while improving overall profitability of the business in a highly converging industry.
[ Ping An Bank in China implemented Oracle FLEXCUBE ]. The system supports the bank's rapid growth in business and customer base and meets and improves customer service, operations and risk management. The implementation was completed in a record timeframe of 18 months.
[ Australia's Suncorp is preparing to implement Oracle FLEXCUBE Next Generation Platform to overhaul its core banking infrastructure, with the overall goal of simplifying the banking system ]. The bank also recently upgraded its customer relationship management (CRM) environment with Oracle technology.
[ Silicon Valley Bank, the first successful deployment of Oracle FLEXCUBE in the United States, is in the midst of its Oracle FLEXCUBE rollout with the solution currently supporting multicurrency deposit accounts and customer data ]. The solution will also support the bank's trade finance and asset-based lending as well as processing for all products. Oracle FLEXCUBE has helped the bank improve client reports and achieve straight-through processing for multicurrency accounts.

Supporting Quotes

"Financial services organizations around the globe face a common set of business challenges as they seek new ways to better serve customers, differentiate themselves in the market, expand business intelligence and reduce overall organizational risk," said Frank Brienzi, senior vice president and general manger, Oracle Financial Services. "Oracle is dedicated to helping banks meet these challenges head on through industry leading hardware and financial services-specific applications that enable organizations to achieve new levels of efficiency, insight and performance."

Supporting Resources

About Oracle
Oracle engineers hardware and software to work together in the cloud and in your data center. For more information about Oracle (NASDAQ: [ ORCL ]), visit [ www.oracle.com ].

About Oracle in Industries
Oracle industry solutions leverage the company's best-in-class portfolio of products to address complex business processes relevant to financial services, helping speed time to market, reduce costs, and gain a competitive edge.

Oracle Financial Services and Insurance Forum
Oracle will demonstrate its leadership and vision for the financial services and insurance industries at the [ 3rd Annual Oracle Financial Services & Insurance Forum ], on February 7, 2012 in New York City. Attendees can hear Mark Hurd, Oracle President, speak on Oracle's strategy for both industries, as well as participate in breakout sessions on high-level industry topics.

Trademark
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Publication Contributing Sources

Market Wire

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Financial Institutions Select Oracle FLEXCUBE Solutions and Oracle Financial Services Analytical Applications to Optimize Opera

Financial Institutions Select Oracle FLEXCUBE Solutions and Oracle Financial Services Analytical Applications to Optimize Operational Efficiency and Profitability, Elevate Customer Service and Reduce Risk