Oracle FSS gains two new core banking tech clients in Eastern Europe
Oracle FSS gains new core banking tech clients
EXCLUSIVE. KDB Bank Europe in Hungary and Všeobecná úverová banka (VUB) in Slovakia have opted for the Oracle FSS core banking software, Flexcube, FinTech Futures understands.
No comment was provided by the vendor on these deals.
KDB is a subsidiary of Korea Development Bank, operating in Hungary since the early 1990s. It provides retail and commercial banking services.
In its recent financial results, Oracle FSS mentions “an established banking player in the Hungarian financial sector which provides universal banking services”, which signed for Oracle Banking Payments and Flexcube.
It is understood Flexcube will replace the legacy KoreBank system from Korean technology vendor Hyundai Information Technology.
At VUB, Oracle’s software will replace the legacy Hogan core banking system, provided by US tech heavyweight DXC Technology (formerly CSC), it is understood. VUB is one of a dwindling number of Hogan’s remaining sites across the world.
FinTech Futures understands that Temenos and Infosys were also bidding for this deal.
VUB is Slovakia’s second largest bank, is owned by Italian financial services group Intesa Sanpaolo. It has over 230 locations across the country (plus one branch in the Czech Republic) and employs nearly 4,000 people. It is the only universal bank in Slovakia licensed to provide the full range of banking services to the public, corporate and institutional clients. It offers mortgages and consumer loans, deposit and payment products and services, corporate banking, financing of foreign trade activities, and factoring.
As exclusively reported earlier by FinTech Futures, Municipal Bank in Bulgaria has also opted for Flexcube.
