Flexcube core banking system gains new takers in LatAm, Europe and Asia
Oracle FSS gains new core banking tech clients
Banco Votorantim in Brazil, Ghazanfar Bank in Afghanistan, Prince Bank in Cambodia, and FEDinvest in Albania are implementing Oracle FSS’s Flexcube core banking system.
Banco Votorantim is the seventh largest bank in Brazil, operating in the wholesale, retail, treasury, asset management and brokerage fields. It opted for the Flexcube core banking system last year. It is understood the bank is replacing the Temenos’ T24 system, which was installed at the bank over a decade ago.
Meanwhile, Afghanistan-based Ghazanfar Bank is understood to be replacing the iCBS core banking solution from Indian banking tech firm Virmati with Flexcube. The bank signed for a broad suite of products from Oracle, including core, digital experience, lending, payments and financial analytics solutions. Ghazanfar Bank has been operating since 2009, offering conventional and Islamic banking services.
In Cambodia, Prince Bank, which transformed from a microlender into a fully-fledged commercial bank last year, has invested over $10 million in its technology modernisation initiative. It selected Flexcube for its core banking operations, with two system integrators and Oracle partners – Techurate and Deam Computer International – assisting with the implementation.
BPC Banking Technologies is providing its SmartVista suite of solutions for cards and payments to Prince Bank. Idealink Consulting, a local partner of TESS International and Dow Jones, is providing anti-money laundering and terrorist financing (AML/CFT) tools. And finally, iFinancial System Services is supplying cash recycling machines to the bank.
In Albania, FEDinvest, a saving and credit association that focuses on financial inclusion and poverty alleviation in the rural areas of the country, is implementing Flexcube for core and Oracle’s front-end tech for digital channels, Banking Digital Experience.
