Oracle Financial Services Software today announced that Imperial Bank Kenya has selected Oracle Reveleus Basel II, Oracle Reveleus Basel II Analytics, Oracle Mantas Anti Money Laundering, Oracle Mantas Fraud and Oracle Reveleus Analytical CRM from Oracle Financial Services Analytical Applications Suite.
Imperial Bank views the investment in Oracle products as vital to its continued growth, building stakeholder trust and actively contributing to regional market development, while addressing the corporate governance and risk areas comprehensively.
As part of its progressive and innovative approach to its business, Imperial Bank will be the first in Kenya to deploy Oracle Mantas Anti-Money Laundering and Fraud applications to address theft and security issues, while increasing transparency on financial transactions.
The bank will leverage Oracle Reveleus Basel II to quickly and efficiently establish a policy and roadmap in order to achieve Basel II compliance, boost customer confidence and ensure compliance with internal and external regulatory requirements. In addition, the application will help address key requirements on capital adequacy.
Finally, Oracle Reveleus Analytical CRM will help the bank obtain a complete view of its customers, their product relationships and transaction behavior to drive loyalty, customer satisfaction and targeted campaigns for customers and prospects.
The bank is currently leveraging Oracle FLEXCUBE as part of its transition into full-fledged commercial bank with corporate, small and mid-sized businesses, retail businesses and an expanded regional presence.
Don Ochola, Head of IT at Imperial Bank stated, "We are committed to creating a strong foundation of risk and compliance to boost stakeholder confidence and address the emerging national and international compliance mandates. Our investment in Oracle Financial Services Analytical Applications for Enterprise Risk, Compliance and Customer Analytics will help us achieve this objective."
"We are glad to be a partner of choice to Imperial Bank in its endeavor to meet and surpass compliance mandates and improve risk management. Oracle Reveleus and Oracle Mantas has the best in class capabilities to address and strengthen institutional goverrnance, address risk and compliance measures, and improve transparency to meet evolving regulatory requirements in the region," said K Suryanarayan, Vice President, Sales, Africa at Oracle Financial Services Software.
Separately, Oracle today announced that ABC Banking Corporation Mauritius, formerly known as ABC Finance & Leasing Ltd (ABCFL), has selected Oracle FLEXCUBE Universal Banking and the Oracle FLEXCUBE Direct Banking to consolidate its leasing business and establish a full service bank.
Once implemented, the Oracle software will enable the bank to provide excellent service to its existing portfolio of customers, with term deposits and leasing accounts using the Oracle FLEXCUBE.
ABC Banking Corporation required a robust and scalable solution to support competitive growth and all basic banking.
Using Oracle FLEXCUBE will allow ABC Banking Corporation to run leasing and core banking operations from a single platform, providing integrated channels to its customers, including internet banking.
ABC Banking Corporation also wanted technology that had a proven track-record in the Mauritian market, to help ensure the solutions could effectively support its aggressive growth and expansion plans.
ABC Banking Corporation also plans to invest in the Oracle Database 11g, Oracle WebLogic Application Server Enterprise Edition 11g and Oracle Business Intelligence Publisher, which are expected to be purchased and deployed separately as part of a wider infrastructure procurement process.
Mohd Khalil Alkhushairi, CEO, ABC Banking Corporation said: "We know that implementing the right application infrastructure and solutions is key to the growth of our business. We needed a robust solution that would support the existing leasing business and also offer the depth to support our banking requirements. We chose Oracle's FLEXCUBE solution, not only because of positive endorsements from other Oracle partners in the Mauritian market, but also because of the broad functionality the technology offered - particularly the consumer leasing aspect of the solution."
Suryanarayan Kasichainula, Vice President - Africa Region for Oracle Financial Services said: "ABC Banking Corporation is a well respected company with exciting growth plans for the banking business. Oracle FLEXCUBE will provide ABC Banking Corporation the necessary operating platform to migrate its current consumer finance operations and future banking products. We look forward to working with our local partners to assist and accelerate the implementation to make it a success.