Jamaica-based First Global Bank and First Global Financial Services Limited, subsidiaries of GraceKennedy, Ltd., have selected Oracle Flexcube to help improve operational efficiencies and support new business opportunities and agility.
The companies are also deploying Oracle Reveleus Operational Risk to extend visibility into operational performance, enabling more proactive governance and strengthening internal controls.
The deployment includes Oracle FLEXCUBE Universal Banking, Oracle FLEXCUBE Direct Banking, Oracle FLEXCUBE Online Trading and Oracle FLEXCUBE Investor Servicing for the First Global companies. These systems will create a unified banking operation and investments platform across the two divisions, automate the processes and drive improved efficiency and synergy between the banking and investment organizations.
The new infrastructure will help First Global Bank Limited and First Global Financial Services Limited to better serve their customers and the market through straight through processing, expanded product development capabilities, the ability to leverage products and services across both organizations, and accelerated time to market for new offerings.
With Oracle Reveleus Operational Risk, the two companies will gain end-to-end visibility that will help them manage risk more actively and effectively across the organizations.
"Oracle FLEXCUBE solutions will enable First Global Bank and First Global Financial Services Limited create a cohesive core foundation that spans both our banking and investment arms. They will provide a fundamental building block of our strategy to enhance customer service and operational efficiency across both organizations. Oracle FLEXCUBE is widely deployed in the region, and Oracle's extensive experience in the Caribbean marketplace has added confidence to our choice," said Courtney Campbell, Chief Executive Officer, First Global Holdings.
"Oracle FLEXCUBE and Oracle Reveleus applications help financial institutions of all sizes to effectively build a scalable operations platform, manage risk and capitalize on new opportunities," said Anand Pitre, Vice President, Sales, Latin America and Caribbean Region "We have achieved significant success in assisting financial services institutions throughout the Caribbean region expand and strengthen their business offerings -over the past few years. We look forward to working with First Global, our newest customer in the region, to harness the power of our solutions to advance the company's operational, growth, and deploy a common risk management framework across its banking and capital markets organizations."