Oracle today announced that Banca Transilvania, has selected Oracle Flexcube Universal Banking System (UBS) to support double digit operational growth each year while sustaining profitability
Banca Transilvania is one of Romania's top five banks, with four main business lines: retail banking, SME banking, corporate banking and a healthcare division. Oracle's FLEXCUBE UBS solution supports all of these business lines.
In order to meet its present and future requirements as a growing financial institution, Banca Transilvania needed an integrated, efficient, cost-effective, and modern international banking system to support its expansion and address challenges such as risk, compliance, and improving the customer experience.
Previously using an advanced solution and investigating other alternatives, Banca Transilvania's decision to sign a multi-year deal with Oracle FLEXCUBE builds on its existing Oracle relationship, using the Oracle Exadata Database Machine X2-2 and is also a user of the Oracle Financials Hub.
With 1.5 million active customers, 6 million accounts and over 500 branches and agencies across Romania, Banca Transilvania is constantly growing, and Oracle's integrated core banking system will support its operation as a seamless enterprise, improving external offerings and internal operations.
Oracle FLEXCUBE will support Banca Transilvania to consolidate its position and amplify its advantage in the increasingly competitive Romanian marketplace through Oracle FLEXCUBE's capacity to enable flexible launches with reduced time to market of new, innovative products and services.
The customer-centric functionality inherent in Oracle FLEXCUBE will support Banca Transilvania in managing and sustaining current and future growth, whilst seeking to meet and exceed the needs of its customers, as the integrated solution provides a holistic view of customer interactions for improved experiences.
Banca Transilvania chose to work with Oracle due to its presence in the region, an implementation and support centre in Athens, more than 30 banking customers in the Balkans alone and more than 100 references in Europe.
Local organisation, Trend Import-Export SRL, gold level member of Oracle PartnerNetwork (OPN) was instrumental in working with Banca Transilvania during its selection of FLEXCUBE, following the previously successful relationship with them during the implementation of the Oracle Exadata Machine X2-2.
Robert Rekkers, CEO of Banca Transilvania, said: "Introducing Oracle FLEXCUBE means for Banca Transilvania, an investment in cutting edge technology, enabling us to continue to take advantage of our current growth, while also expanding through our ability to launch new products and services to our customers quickly. Banca Transilvania was looking for an integrated solution for core banking that was based on new technologies, and that would be capable of sustaining our development for years to come: Oracle FLEXCUBE fit the bill, providing us with a value for money solution and valued expertise alongside it through their partnership with Trend Export-Import SRL."
Frank Brienzi, Senior Vice President and General Manager, Oracle Financial Services Global Business Unit, said: "It's fantastic news that Romania's Banca Transilvania has chosen to build on an already strong relationship with Oracle, by moving its core banking platform to Oracle FLEXCUBE UBS. As financial institutions across Europe, and the world, face new economic realities and regulatory changes, focuses are increasingly on customer intimacy, competitive differentiation, cost effectiveness and compliance. With the implementation of Oracle FLEXCUBE UBS, Banca Transilvania is taking the lead in overcoming these challenges with their new integrated and flexible banking system. We are proud to be working with a local partner in Romania in Trend Import-Export, enabling Oracle to offer the ongoing support Banca Transilvania needs to stay ahead of the competition, and to offer superior customer service."
Tudor Iliescu, Manager, Trend Import - Export, continues: "As an OPN Gold Partner, we're very happy to be so heavily involved in another Banca Transilvania deal. After we worked on Banca Transilvania's highly successful implementation of the Oracle Exadata Database Machine X2-2, we are looking forward to working with Banca Transilvania and Oracle for many years to come."