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CTBC to move branch operations to Oracle

Source: Oracle

CTBC Bank Co. Ltd. has chosen Oracle Financial Services to help modernize its corporate banking and payments operations across branches in seven countries.

CTBC’s New York City branch is the first location to go live with the Oracle Banking portfolio, helping the bank better serve and build deeper relationships with customers, and build new products and services faster as the business evolves.

“Oracle’s scalable banking solutions position us to quickly adapt to changing customer expectations, business needs, and regulations while providing our customers with the superior service they expect,” said Frank Shih, executive vice president and group head of global operations, CTBC Bank. “This project will require a lot of hard work and perseverance and Oracle has shown they are the right company to partner with us in this journey. These changes in our overseas core banking and payment systems will give us a new competitive edge. Going forward we expect to explore more applications to fully utilize the flexibility of the new platform.”

Taiwan-based CTBC Bank Co. Ltd. is the largest business subsidiary of CTBC Financial Holding Co., Ltd, which is listed on Taipei Stock Exchange, and has more than $180 billion in assets. In addition to its New York branch which operates wholesale and international business, CTBC serves the U.S. market through its U.S. arm, CTBC USA which operates branches in California, New Jersey, and New York. As an existing Oracle FLEXCUBE Universal Banking customer, CTBC chose Oracle Banking solutions to upgrade and expand its global payments and liquidity management capabilities, such as cash pooling.

Reducing complexity and cost
Replacing its existing highly customized and complex payments platform with Oracle Banking Payments, CTBC’s New York branch is now running on a certified SWIFT-compatible application that supports real-time, low-cost payments. A key differentiator, the solutions provide direct integration into the Federal Reserve’s FedLine products, which offer convenient Internet Protocol (IP)-based options for critical payment services. By automating complex processing and workflows, Oracle Banking Payments is also helping CTBC reduce operational costs and improve visibility into its liquidity positions.

“Throughout the past decade, the payments and banking landscape has changed dramatically as customers demand a digital and efficient experience,” said Venky Srinivasan, group vice president of sales, Asia Pacific, Japan, the Middle East and Africa, Oracle Financial Services. “As a long-standing customer of Oracle, CTBC has always taken a leadership role in using modern technology to differentiate themselves in the global corporate and transaction banking space. CTBC is now using our latest innovation in payments, liquidity, and cash management from the Oracle Banking portfolio to help expand its growing international presence in the U.S. now, and other markets in the future.”

Oracle Banking is a portfolio of financial services applications that enable banks to offer a complete set of digital banking services to clients. The suite includes the digital core and applications for retail and corporate banking, real-time payments, and digital experience. Built on a microservices architecture with 3000-plus open banking REST APIs, the suite makes it easy for CTBC to “plug in” additional Oracle and third-party services when they need them. It also provides a scalable, cloud-native environment for growth.

CTBC is also leveraging a variety of Oracle corporate banking solutions, including Oracle Banking Enterprise Limits & Collaterals Management and Oracle Banking Liquidity Management. These solutions bring real-time visibility to cash and liquidity management, accelerate lending decisions, streamline operations, and simplify treasury management.

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