i-flex solutions (Reuters: IFLX.BO & IFLX.NS), a leading provider of IT solutions to the global financial services industry today announced that:
PT Bank Danamon Indonesia Tbk. (Danamon) has gone live on Oracle's FLEXCUBE, for its micro financing network known as "Danamon Simpan Pinjam (DSP)".The implementation for the Bank's DSP network was one of the fastest transformation projects, with 700 branches successfully changing over to FLEXCUBE in a time period of just 5 months.The DSP business network serves the micro and small scale enterprises segment. All DSP products, processes, branch offices and services are designed and developed to cover the needs of micro and small entrepreneurs.Danamon's core banking transformation project is one of the largest core banking implementations in the ASEAN region.The bank is Indonesia's second largest private national bank and the fifth largest commercial bank.
"The DSP business is strategic to Danamon's vision to "enable millions to prosper". This segment needs solutions that are specifically designed for them delivered with the same speed, convenience and completeness as conventional banking. We are extremely pleased with the successful, record time conversion to FLEXCUBE. It is a remarkable achievement and will enable us to serve and grow this segment better," said Kanchan Nijasure, Chief Information Officer, Danamon.
"The Danamon implementation is a showcase implementation for us, as it highlights the advantages of FLEXCUBE, in terms of functionality to address different segments completely, flexibility to adapt to different needs and our domain expertise and experience in delivering solutions that address the bank's requirements. With FLEXCUBE as the core banking platform for the DSP business, the customers of the bank can expect greater simplicity, speed and innovation in banking services. FLEXCUBE will provide scalability and functionality to expand this segment further," said Joseph John, Executive Vice President, Banking Products Division, i-flex solutions.