Afghan United Bank and Investbank go live with Oracle Flexcube

Source: Oracle

Oracle today announced the successful go-live of Oracle Flexcube Universal Banking Solution and Oracle Flexcube Direct Banking at Afghan United Bank.

The Oracle FLEXCUBE Universal Banking accelerator pack - a set of pre-configured products and processes designed for specific regions and countries - meant that implementation time was shortened to under 36 weeks, with reduced risk in deployment.

Afghan United Bank is a commercial bank contributing to the development of private and public industries, including the agricultural, industrial and construction sectors in Afghanistan.

The highly scalable infrastructure of the Oracle FLEXCUBE Universal Banking Solution will enable Afghan United Bank to meet its expansion goals, whilst contributing to the economic growth of the country.

The Oracle FLEXCUBE customer centric functionality will help the bank provide innovative products to its customers, and use enhanced customer insight and simulations to deliver excellent customer service.

By implementing Oracle FLEXCUBE the bank is able to centralise and standardise its operations, and offer advanced multi-channel banking facilities to its customers - including online and mobile banking.

In addition, Oracle FLEXCUBE Direct Banking provides a 360-degree view of customer relationships and transactional information across channels, allowing Afghan United Bank to understand customers' needs and rapidly identify cross-selling and up-selling opportunities.

To ensure that every branch is fully serviced, including those in remote locations, Oracle FLEXCUBE was deployed over microwave and VSAT network infrastructure.

The contract between Oracle and Afghan United Bank was signed in July 2009 and the deployment was supported from the Dubai offices of Oracle Financial Services.

Syed Mahmood-ul-Hassan, chief executive officer, Afghan United Bank - said: "We needed an efficient core banking solution that could provide us with the means for next generation growth. With the successful implementation of Oracle FLEXCUBE Universal Banking and Oracle FLEXCUBE Direct Banking, we now have a robust platform that will help us manage our operations across channels, providing efficient servicing and innovative products to an expanding customer base."

Mustafa Moonim, vice president, Eastern Europe and Middle East, Oracle Financial Services said: "We are excited to see the successful go-live of Oracle FLEXCUBE - our third in Afghanistan. We pride ourselves on being able to support the specific needs of our customers, and ensuring we can serve their local requirements is a key aspect of this service. Oracle FLEXCUBE allows Afghan United Bank to expand its service offerings and contribute to the economic growth of the country." 

Separately, Oracle today announced the successful go-live of Oracle FLEXCUBE Universal Banking Solution at Investbank (previously known as Jordan Investment & Finance Bank)

This is the first implementation of the Oracle FLEXCUBE Arabic language application in the Middle East. It runs alongside the English language, and will support the bank's growth while enhancing banking services for its clients

INVESTBANK offers a wide range of personal and business banking services in Jordan. The bank aims to support Jordanian economic innovation and attract foreign investment by using the latest technologies and capacity building

The highly scalable infrastructure of the Oracle FLEXCUBE solution will enable the bank to meet its growth plans in a competitive environment. The flexible product structure and design will allow the bank to quickly deploy new products and services to the market

INVESTBANK required a solution to support its projected growth, not only through taking products and services to market faster, but through ensuring there is a single version of the truth in data right across the bank, regardless of the channel used to access accounts

The customer-centric functionality in Oracle FLEXCUBE will help the bank improve its reach by introducing new products and expanding into new regions at a rapid pace

Since the go-live, INVESTBANK has improved operational efficiency and reduced costs. For example, in-branch Tellers are now able to manage and service clients faster

By providing a single unified solution across the organisation, INVESTBANK is able to centralise and standardise its operations in order to offer more advanced multi-channel banking facilities to its clients

The deployment of Oracle FLEXCUBE Universal Banking Solution in Arabic as well as English, will allow the bank to reduce staff training times and offer enhanced customer service to users who do not understand English

The contract between INVESTBANK and Oracle was signed on 31 March 2008

Bisher Jardaneh, Chairman, INVESTBANK said: "We at INVESTBANK always strive to provide the best services to our clients and it is essential that our new core banking system will grow and evolve with us. The application of Oracle FLEXCUBE rectifies the limitations of our past system, which did not provide us some of the functions that we required, and will help us bring new and innovative products to the market. The implementation of Oracle FLEXCUBE in Arabic with English will make the training process easier for the bank. I would like to thank the team for their high efficiency and constructive efforts in the development and implementation of this project."

Mustafa Moonim, vice president, Eastern Europe and Middle East, Oracle Corporation said: "We are excited to see the successful go-live of Oracle FLEXCUBE - our first in Jordan, and the first of our Arabic language application in the Middle East. We pride ourselves on being able to support the specific needs of our customers, and ensuring we can serve their local requirements is a key aspect of this service. Through using a standardised solution such as Oracle's FLEXCUBE, INVESTBANK will be able to lower its TCO, and tailor the technology to suit its changing needs over time." 

Comments: (0)

Featured job
All Jobs »