|
|
-
Incomplete, Inconsistent Data Creates Lack of Confidence Across Europe?s Financial Institutions
Incomplete, Inconsistent Data Creates Lack of Confidence Across Europe?s Financial Institutions
Redwood Shores, CA ? July 19, 2010
News Facts
Research released today from Oracle reveals senior business and IT managers across Europe?s financial services institutions believes there needs to be more emphasis placed on risk management when it comes to decision-making and performance management. The research, titled ?The European Confidence Report,? also highlighted significant issues with the availability of risk and performance related data, as well as the readiness of the IT systems to meet increasing regulatory demands. The research, conducted by Vanson Bourne, surveyed 228 financial services professionals and 222 IT professionals in financial institutions across Europe. Key Findings of the Research Financial institutions are not leveraging integrated risk information in decision-making: of financial institutions surveyed do not currently assess risk and performance together and only 18% of respondents reported an ability to deliver performance and risk information to the business in real-time. Existing IT systems are unable to deliver what the business needs to react immediately to external events: Only 26% of respondents are confident that their existing IT system is capable of using stored data to provide a full risk analysis across all business units Almost two-thirds (64%) do not have confidence that IT is able to provide a 360-degree view of the entire business. For example only 32% of the participating banks claimed they had access to vital data like counterparty information and 25% of the participating UK banks couldn?t even produce this information. Financial institutions do not realize the impact risk can have on overall performance: The vast majority (85%) of respondents from the banking sector do not have performance management systems completely integrated with risk analysis systems Additionally, almost half of all participating banks were not confident of the accuracy of their risk and counterparty related data. For full findings and research data, please go to: http://www.oraclefscentral.com/resources/Supporting Quotes Nazif Mohammed, vice president EMEA, Finances Services, Oracle said, ?Financial institutions must integrate risk and finance to provide a solid foundation for the future. This research highlights that there is still a long way for financial institutions to go to confidently manage their information. Outdated or irrelevant data hinders effective decision-making and performance. Without complete visibility into the business, financial institutions will continue to be unable to react to market conditions as they occur.? Senthil Kumar, vice president, Oracle Financial Services Global Business Unit concluded, ?The next set of guidelines from global regulators, Basel III, addresses liquidity risk, stress testing, loan loss and capital forecasting ? all key to the success of a financial institution. The regulation will require financial institutions to further strengthen and unify their risk management and finance processes to avoid repeating the same mistakes that we have seen in the last few years. Oracle's ability to integrate these processes through a unified platform is rapidly gaining worldwide recognition as a transformational best practice. Our customers are able to optimise their capital adequacy needs in order to enable key processes, like risk-based pricing and risk-adjusted performance, to increase their overall competitiveness.? Supporting Resources
Download ?The European Confidence Report"
Download ?The European Confidence Report" fact sheet
Watch the ?Taking Risk Seriously? video
Follow Oracle Financial Services on Twitter
Join the Oracle Financial Services Community on Facebook
Subscribe to the Oracle Financial Services YouTube channel About OracleOracle (NASDAQ: ORCL) is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit our Web site at http://www.oracle.com. TrademarksOracle and Java are registered trademarks of Oracle and/or its affiliates. FLEXCUBE, Daybreak, Mantas and Reveleus, are trademarks of Oracle Financial Services Software and are registered in several countries. Other names may be trademarks of their respective owners Contact Info
Samuel Hall
Oracle
+44 1189 246332
samuel.hall@oracle.com |
Joanna Vos
CMG
+44 207 067 0463
jvos@cmgrp.com |
-
Oracle Announces Update to Oracle SOA Suite 11g
Oracle Announces Update to Oracle SOA Suite 11gNew Release of Oracle Service Bus 11g, a Key Component of Oracle SOA Suite 11g, Improves Performance and Scalability of SOA and Cloud Environments
Redwood Shores, Calif. ? July 19, 2010 News Facts Extending the performance and scalability leadership of Oracle SOA Suite 11g, Oracle announced Oracle Service Bus 11g. Part of the Oracle Fusion Middleware product family, and a component of Oracle SOA Suite 11g, Oracle Service Bus 11g transforms complex and brittle application architectures into flexible application networks that are easily and rapidly modified. It does so by mediating and managing services and applications in a consistent, standards-based methodology. Oracle Service Bus 11g delivers low-cost, standards-based integration for SOA environments where extreme performance and scalability are key requirements. Oracle Service Bus 11g introduces new capabilities such as Service Result Cache and Automated Lifecycle Service Governance, as well as improved performance and availability for organizations using enterprise datacenters, as well as virtual private cloud environments. New Capabilities Enhance Performance and Lower Costs Service Result Cache: Oracle Service Bus 11g delivers a unique approach to eliminating latency times associated with frequent access of static back-end data with an easy to use, single-click enablement of service result caching. It achieves this by directly embedding and integrating with Oracle Coherence, the industry?s leading in-memory data grid. Automated Lifecycle Service Governance: In contrast to traditional ESBs, which treat service governance as an afterthought and depend upon manual management using a disparate set of governance tools, Oracle Service Bus 11g automatically synchronizes service governance with the Enterprise Repository throughout the entire service lifecycle from design through development, deployment, and runtime. This new level of integration between the ESB and governance greatly reduces errors and improves time to market. Cloud Integration: Oracle Service Bus 11g is designed to enable customers to easily integrate and bridge the divide between enterprise data centers and public cloud infrastructures.
Supporting Quotes ?As customers expand their service infrastructure to include more disparate services from clouds and other external sources, the need for high service availability and performance dramatically increases,? said David Shaffer, vice president, product management, Oracle Fusion Middleware. ?The new features in Oracle Service Bus 11g eliminate performance bottlenecks and ensure high service availability so customers can dramatically improve the performance and scalability of their SOA investments.? "It used to take three to four weeks to onboard telemarketing partners, but with Oracle Service Bus, we have shrunk this timeframe down to a matter of days,? said Siddharth Jain, senior director of engineering at Product Partners. ?Oracle Service Bus provides great flexibility and cost savings." Supporting Resources
? Register for the Oracle Service Bus 11g Webcast
? Oracle Service Bus 11g Data Sheet
? Link to Oracle SOA Suite 11g Launch Center
? Oracle Fusion Middleware 11g
? Join the Oracle Fusion Middleware community on Facebook
? Bridging the Divide between SaaS and Enterprise DataCenters White Paper
About OracleOracle (NASDAQ: ORCL) is the world's largest business software company. For more information about Oracle, please visit our Web site at http://www.oracle.com.Trademarks
Oracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners. Contact Info
Marcie Hatch
Oracle
+1.530-214-8068
marcie.hatch@oracle.com
|
Kristin Reeves
Blanc & Otus for Oracle
+1.415.856.5145
kreeves@blancandotus.com
|
-
Banks in Vietnam Bank on Oracle® FLEXCUBE to Support Growth and Effectively Transform Their Businesses
Banks in Vietnam Bank on Oracle® FLEXCUBE to Support Growth and Effectively Transform Their Businesses
Hanoi, Vietnam ? July 16, 2010 News Facts Oracle Financial Services Software today announced that a growing number of banks in Vietnam are turning to Oracle FLEXCUBE Core Banking. More than 15 customers in Vietnam, including banks such as Dong A Bank, Habu Bank, Ocean Bank, Nam A Bank, Vietnam Russia Bank and Tien Phong Bank, have selected Oracle FLEXCUBE to transform the way they do business and to help achieve operational excellence. With Oracle FLEXCUBE, these banks will benefit from the industry?s most advanced and flexible platform for transforming core banking processes, as well as comprehensive localization of the product for Vietnamese banking requirements. As a result, these banks have achieved faster implementation timeframes, standardized according to common business needs of Vietnamese banks, and are now in position to leapfrog into the next generation of banking technology to maximize the country?s rapidly growing economy and banking sector. Vietnam Asia Commercial Bank Vietnam Asia Commercial (VietA) Bank, a rapidly growing mid-sized Bank based out of Ho Chi Minh City with 15 main branches and 47 sub-branches, is migrating from a local solution to Oracle FLEXCUBE to cover all of its operations. VietA Bank operates as a ?Universal Bank?, offering a range of retail, corporate, trade and treasury products to its customers. VietA Bank has grown at a CAGR of 100% in the last three years and has set additional ambitious targets to strengthen and expand its operations, plan for continued growth of its branch network, and acquire customers through differentiated, diversified products and services.
Customer Quotes ?With technology as one of the pillars of our growth strategy, we required a solution that could provide us the functionality and architecture to rapidly add new products and customers and help us grow profitability,? said Vo Van Khang, Vice President, Vietnam Asia Commercial Bank, ?Oracle FLEXCUBE provided a solution that has the right combination of scalability and functionality, matched with a superior technology architecture, to meet our current and future needs. Additionally, Oracle Financial Services? global and local success in core banking implementation also assured us that we have selected the right platform in Oracle FLEXCUBE.? ?As a next generation banking solution, Oracle FLEXCUBE has enabled us to rapidly ramp up operations and extend our business in terms of customers, products and branches. Since the implementation in 2008, we have increased our branches to 57 from 42, and have launched 20 new products. We have also launched comprehensive Internet Banking services on Oracle FLEXCUBE. Oracle FLEXCUBE has effectively supported our transformation process,? said, Mr. Nguyen Xuan Son, General Director, Ocean Bank. ?Oracle FLEXCUBE empowered Tien Phong Bank, to enter the market, with a strong competitive advantage of being a customer centric and technology savvy bank. The all-round customer view, fast product launch capability and scalable architecture provided by Oracle FLEXCUBE is helping us in build up our customer base by providing differentiated services and fast response timelines,? said Ngo Quoc Tien, Head of Software Department, Tien Phong Bank. ?By replacing our legacy system with Oracle FLEXCUBE, we now have core banking platform which provides us agility, scalability and flexibility to address a fast growing market with innovative products in the shortest period of time. The centralization of transaction processing has resulted in significant cost savings and better operational view,? said Ms Nguyen Thi Kim Oanh, Vice General Director, Habu Bank. ?Vietnam is becoming a model for other countries that are seeking to expand their banking services,? said, A Srinivasan, Vice President, Sales, Asia Pacific and Chief Executive Officer, Oracle Financial Services Software Pte Ltd,. ?Banks around the world choose Oracle FLEXCUBE for its ability to help them migrate to a new platform with significant functionality, in shortest possible timeframe, coupled with strong customer support. We have also sought to address the evolving requirements of Vietnam banking practices and regulations by delivering a highly localized Oracle FLEXCUBE solution for Vietnam banks that is receiving great response from this market.? Supporting Resources
Follow Oracle Financial Services on Twitter
Join the Oracle Financial Services Community on Facebook
Oracle in Financial Services About Oracle Financial Services Software LimitedOracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. For more information, visit www.oracle.com/financialservices. About OracleOracle is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit oracle.comTrademarksOracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners. Contact Info
Charlotte Sam
Oracle
+65.6436.1238
charlotte.sam@oracle.com |
|
-
Prominvestbank Selects Oracle FLEXCUBE Universal Banking to Standardize Systems and Support Growth
Prominvestbank Selects Oracle FLEXCUBE Universal Banking to Standardize Systems and Support Growth
Reading, UK - July 15, 2010 News Facts Oracle today announced that Prominvestbank, one of Ukraine?s largest commercial banks, has selected Oracle FLEXCUBE Universal Banking to standardize business processes and centralize banking operations, as well as provide real-time access to accurate information across the board. Oracle FLEXCUBE will allow the bank to better serve its 116,000 corporate customers and three million customer accounts, across more than 600 physical outlets, and support competitive growth. With a focus on corporate banking, Prominvestbank intends to launch retail services. The implementation of Oracle FLEXCUBE will establish a comprehensive technical base from which to build these services. Additionally, Oracle FLEXCUBE will centralize data on customer activity, removing the issue of multiple instances of applications and databases, and providing accurate data. Working with Oracle?s local reseller partner JSC Sitronics, Prominvestbank was guided by parent company, Russian owned Veneshcenom Bank (VEB), to adopt Oracle FLEXCUBE. Supporting Quotes ?Oracle?s impressive footprint in Ukraine and the availability of local Ukrainian speaking consultants through JSC Sitronics played a big part in our adoption of Oracle FLEXCUBE Universal Banking. We want to grow and needed to standardize our processes and centralize our databases and applications. Now we can confidently plan for future expansion, knowing Oracle will proactively assist Prominvestbank?s growth, while allowing us to react swiftly whenever we need, with the help of local partners on the ground in Ukraine,? said Victor Bashkirov, Chairman, Prominvestbank. Rajesh Hukku, Chief Strategy Officer, Financial Services, Oracle, said, ?We are extremely pleased to work with Prominvestbank, our sixth such deal in Ukraine. With the bank?s plan for growth and expansion into retail services, we expect them to be able to take full advantage of recent investments made in Oracle FLEXCUBE, and accelerate the rollout by working with our local partner JSC Sitronics, who will assist in the implementation across the country for Prominvestbank.? Supporting Resources
Oracle FLEXCUBE Universal Banking
Follow Oracle Financial Services on Twitter
Join the Oracle Financial Services Community on Facebook
Oracle in Financial Services About Oracle Financial Services Software LimitedOracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. For more information, visit www.oracle.com/financialservices. About OracleOracle is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit oracle.comTrademarksOracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners. Contact Info
Samuel Hall
Oracle
+44.118.924.6332
Samuel.hall@oracle.com |
|
-
Operational Risk & Regulation Readers Select Oracle Financial Services Software as a Leader in Annual Compliance Software Rankings
Operational Risk & Regulation Readers Select Oracle Financial Services Software as a Leader in Annual Compliance Software Rankings
Redwood Shores, Calif. ? July 15, 2010 News Facts The publication?s readers named Oracle (including Sun) as a leading vendor across seven of the survey?s eight compliance software categories. No other vendor achieved this distinction in the 2010 survey. Oracle ranked first for governance, risk and compliance (GRC) software products and ranked second for the overall Compliance 20, as well as in the anti-money laundering (AML), Sarbanes-Oxley, and regulatory reporting solution categories. The survey results also recognized Oracle in the compliance monitoring and control and anti-fraud product categories and recognized Oracle?s Sun products in the e-mail archiving, data storage and recovery tools category. Operational Risk & Regulation compiles its compliance software rankings based on the results of a survey of its readers from financial institutions around the globe. Respondents selected their top five companies in eight compliance product categories: AML; anti-fraud; GRC; Sarbanes-Oxley; compliance monitoring and control; regulatory reporting; spreadsheet products; and e-mail archiving, data storage and reporting. Oracle Financial Services Analytical Applications suite offers the industry?s most complete and fully integrated portfolio of analytical solutions covering enterprise risk, performance management, regulatory compliance and customer insight. The suite includes Oracle Reveleus analytical applications for multi-jurisdictional Basel II compliance and risk management, as well as the Oracle Mantas Behavior Detection Platform, the industry's most comprehensive solution for anti-money laundering, detecting risk and enhancing customer relationships. Supporting Quote ?Achieving enterprise-wide visibility into risk and compliance has become a high priority for today?s financial institutions. In this quest, they seek a technology partner that can deliver proven and best-of-breed solutions across the entire risk management and compliance spectrum. The results of Operational Risk & Regulation?s 2010 compliance software rankings reflect the financial services community?s confidence in Oracle to deliver end-to-end solutions that yield unprecedented visibility and value,? said S. Ramakrishnan, group vice president and general manager, Oracle Financial Services Analytical Applications. Supporting Resources
Oracle in Financial Services
Follow Oracle Financial Services on Twitter
Join the Oracle Financial Services Community on Facebook
Look for Oracle Financial Services on YouTube About Oracle Financial Services Software LimitedOracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. For more information, visit www.oracle.com/financialservices. About OracleOracle is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit oracle.comTrademarksOracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners. Contact Info
Kimberly Pineda
Oracle
+1.650.506.8831
kimberly.pineda@oracle.com |
|
-
Celent Names Oracle a Leader in Global Core Banking Sales
Celent Names Oracle a Leader in Global Core Banking Sales
Redwood Shores, Calif. ? July 15, 2010 News Facts Leading research and advisory firm, Celent, has named Oracle a leader in core banking sales for 2010. Celent?s Big Leagues Table ranks vendors on the number of new name core banking deals won in the 12 months ending September 30, 2009. The Celent Big Leagues Table assesses the success of a core banking vendor based on a proxy for value of the deals won, rather than the number. A ranking that revolves around the number of deals would give a skewed representation, because it would not take into account the size of the implementation. Celent believes that a sales ranking should include both the size of the deals and an adjustment for the geographical location of the implementation. According to the report, ?Oracle topped the Celent Big Leagues Table for 2009, beating out other competitors like Temenos and TCS. Oracle had some high-profile wins that kept it at the top.? The report also noted that, ?(Oracle?s) popularity can be seen by the fact that it led the rankings in all the regions, except for Western Europe. It had a clear advantage in its traditional African and Asian markets, with deals ranging from large banks to small cooperative financial institutions. Celent's Big Leagues Table 2010: Global Core Banking Sales Ranking report is available at http://www.celent.com. Supporting Quote ?Celent?s recognition of Oracle reflects the combined strength of our solutions, as well as our extensive global reach. Financial institutions worldwide continue to turn to Oracle Financial Services to address their most critical business requirements, reduce risks, maximize operational efficiencies and increase competitiveness,? said NRK Raman, Chief Executive Officer and Managing Director of Oracle Financial Services Software. Supporting Resources
Oracle in Financial Services
Follow Oracle Financial Services on Twitter
Join the Oracle Financial Services Community on Facebook About Oracle Financial Services Software LimitedOracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. For more information, visit www.oracle.com/financialservices. About OracleOracle is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit oracle.comTrademarksOracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners. Contact Info
Kimberly Pineda
Oracle
+1.650.506.8831
kimberly.pineda@oracle.com |
|
-
New Release of Oracle?s Sun Ray Software Available Now
New Release of Oracle?s Sun Ray Software Available Now Latest Features Enhance Efficiency, Access and User Experience; Helps Increase Adoption of Desktop Virtualization
Redwood Shores, Calif. ? July 15, 2010
News Facts Demonstrating its commitment to provide a comprehensive desktop virtualization portfolio, Oracle announced the latest Sun Ray Software 5 update. Sun Ray Software 5 is a secure, cost-effective solution that delivers a rich virtual desktop experience to customers using Oracle?s Sun Ray Clients or traditional PCs. New features include support for Oracle Enterprise Linux, an enhanced virtual desktop client, and a Sun Ray connector for VMware View 4. The new features offer increased efficiency, broader support for heterogeneous environments, improved ease-of-use, enhanced user experience and help lower total cost of ownership. The Sun Ray Software 5 update is the latest enhancement to Oracle?s virtualization portfolio; the industry's most complete desktop-to-datacenter virtualization. With Oracle virtualization, customers can efficiently and easily virtualize and manage their full software and hardware stack, from applications to disk. Administrators and End Users Benefit from Broader Support of Heterogeneous Environments, Greater Efficiency, Access and Ease-of-Use Sun Ray Software 5 provides a comprehensive Oracle-based virtualization solution that easily integrates with popular third-party technologies like Microsoft Windows Server, Microsoft Active Directory, Red Hat Enterprise Linux, SUSE Linux Enterprise Server, and VMware View. This broad support for heterogeneous environments is unique to Oracle?s desktop virtualization solutions and offers customers enhanced flexibility and investment protection. New features in the Sun Ray Software 5 update include: Support for Oracle Enterprise Linux ? enables customers to choose among Oracle Solaris, Oracle Enterprise Linux, Red Hat Enterprise Linux or SUSE Linux Enterprise Server as their server platform to deploy Sun Ray Software; Enhanced virtual desktop client ? installs on existing PCs and allows them to be used as an alternative to a dedicated Sun Ray Client device. This enables organizations to quickly experience many of the benefits of the Sun Ray solution, using their existing desktops. New in this release is support for Mac OS X computers, in addition to existing support for Windows XP, Windows Vista, and Windows 7; Greater mobility ? with the enhanced virtual desktop client, customers can now use smart card readers on supported PCs to ?hotdesk? desktop sessions between PCs and dedicated Sun Ray Clients. ?Hotdesking? allows users instant access to their desktop sessions simply by inserting a smart card into a Sun Ray Client or a PC with a smart card reader; Sun Ray connector for VMware View 4 ? allows Sun Ray Clients to be used as a client with the VMware View 4 virtual desktop infrastructure product; Enhanced multimedia with bidirectional audio capabilities ? improves the user experience with Windows applications. Supporting Quote "The latest updates to Oracle?s Sun Ray Software 5 demonstrate Oracle?s continued commitment to deliver comprehensive, integrated and cost-effective virtualization solutions from the desktop to the datacenter,? said Wim Coekaerts, senior vice president, Linux and Virtualization Engineering, Oracle. ?The new features and enhancements, including the breadth of support for heterogeneous environments, enable customers to easily manage and streamline their virtual infrastructure ? providing greater security and access, while reducing costs.? Supporting Resources
About OracleOracle (NASDAQ: ORCL) is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit our Web site at http://www.oracle.com.TrademarksOracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners. Contact Info
Teri Whitaker
Oracle
+1.650.506.9914
teri.whitaker@oracle.com |
Mina Manchester
Blanc & Otus
+1.415.856.5182
mmanchester@blancandotus.com |
-
National Microfinance Bank plc of Tanzania Selects Oracle(R) FLEXCUBE as Banking Platform
National Microfinance Bank plc of Tanzania Selects Oracle(R) FLEXCUBE as Banking PlatformTanzania?s Largest Bank to Leverage Centralized Deployment to Increase Operational Effectiveness
Reading, UK - July 15, 2010 News Facts Oracle today announced that the National Microfinance Bank plc (NMB), Tanzania?s largest bank ranked by customer base and branch network, has selected Oracle(R) FLEXCUBE as its banking platform to increase operational effectiveness across its branch network. With more than 130 branches, NMB aims to provide a complete spectrum of banking services to consumers, corporate and small and mid-sized businesses in Tanzania. Oracle FLEXCUBE Universal Banking and Oracle FLEXCUBE Direct Banking will enable the bank to launch innovative products and services and provide superior customer service and delivery channels through a newly centralized control system. Using Oracle FLEXCUBE, NMB also aims to provide a full range of financial services to rural communities and those on the edges of urban areas in Tanzania. With Oracle FLEXCUBE, it will be able to offer decentralized branch operations where there are potential connectivity issues. Using a centralized deployment model of Oracle FLEXCUBE, the bank will be able to offer a consistent, high quality service across all delivery channels, including iBranch, ATM and Internet banking, among others. Oracle FLEXCUBE Direct Banking will provide NMB with a 360-degree view of customer relationships, allowing for integration across all delivery channels in order to improve customer relationships and provide additional services where applicable. Oracle FLEXCUBE Universal Banking will also enable NMB to offer customized solutions through enhanced customer insight, simulations and relationship pricing. Supporting Quotes ?We recognize IT as a key enabler for continuing our growth across the region as we support our business in urban, surrounding areas and especially rural communities across Tanzania. Oracle FLEXCUBE gives us what we need to tailor our offerings down to the smallest of details, running ?what if? scenarios to establish which options will be best for our customers. We expect to stay ahead of the competition, identifying and introducing new products and services to market even more quickly than before. With real-time dashboards providing us the window through which we can oversee and manage our entire operations centrally, we are confident that we can sustainably grow, as we further expand our banking services coverage. Oracle?s vast experience in similar implementations and its understanding of the East Africa Banking market place in which we operate made Oracle FLEXCUBE a clear choice for NMB.? Ben Christiaanse, Chief Executive Officer, National Microfinance Bank plc. ?Oracle is excited to help NMB, the largest retail bank in customer base and branch network in Tanzania and one of the leading banks in East Africa, reach its business goals. NMB?s leadership and presence in the country will be further enhanced with Oracle FLEXCUBE deployment by reducing the time to market for new products, delivering better quality of customer services from a centralized facility and enabling personalization of services for the various customer segments serviced,? said K. Suryanaraynan, vice president and head of Africa regional sales, Oracle Financial Services Software. Supporting Resources
National Microfinance Bank
Follow Oracle Financial Services on Twitter
Join the Oracle Financial Services Community on Facebook
Oracle in Financial Services About National Microfinance Bank Plc National Microfinance Bank Plc (NMB) is the largest bank in Tanzania ranked by customer base and branch network. The bank has over 130 branches located in more than 80% of Tanzania's districts. This broad branch network distinguishes NMB from other financial institutions in Tanzania by offering specialized banking services to rural masses in Tanzania. The Government of Tanzania established the National Microfinance Bank Incorporation in 1997 with the intention of providing payment services, savings accounts and limited borrowing services. The Government of Tanzania started the privatization process in 2005, and sold part of its shareholding (49%) to a consortium led by the Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. ('Rabobank Group') from Netherlands. In 2008 a second step in privatization was taken when the Government sold 21% of NMB shares to the public through an IPO. About Oracle Financial Services Software LimitedOracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. For more information, visit www.oracle.com/financialservices. About OracleOracle is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit oracle.comTrademarksOracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners. Contact Info
Samuel Hall
Oracle
+44.118.924.6332
Samuel.hall@oracle.com |
|
-
UAE Central Bank Chooses Oracle FLEXCUBE to Improve Banking Efficiency and Insight
UAE Central Bank Chooses Oracle FLEXCUBE to Improve Banking Efficiency and Insight
Abu Dhabi, July 15, 2010 News Facts The UAE Central Bank will implement Oracle® FLEXCUBE in place of its existing systems to keep pace with its rapidly changing operational priorities, to improve banking efficiency in the Emirates and provide greater insight into the constantly changing complexion of assets and liabilities of banks in the country. Choosing Oracle FLEXCUBE is also a first crucial step toward providing improved and enhanced services to commercial banks and other financial institutions in the UAE. As a Regulator, UAE Central Bank?s vision is to expand the adoption of effective electronic payment systems. As a leading provider of banking applications to global financial institutions, Oracle will enable Central Bank of UAE to take advantage of Oracle FLEXCUBE?s proven transaction-processing capabilities and process framework to help standardize operations and leverage industry best practices. Supporting Quotes ?By implementing Oracle FLEXCUBE, we hope to enable technology-driven transformation at our bank as a first step to strengthening the banking system in the country. After our due diligence, we came to the conclusion that Oracle FLEXCUBE can help us create the necessary transformation in a quick and efficient manner and prepare us for the opportunities and challenges of the future. The solution will also help us in several key areas such as payments, currency management and cost effective operations.? Mr. Rashid Al Fandi, Executive Director, Banking Operations, Central Bank of UAE. ?We are proud to add Central Bank of UAE as an Oracle FLEXCUBE customer. This deployment will provide Central Bank of UAE with a cost effective and flexible platform for its operations and enhanced oversight.? Mr. Mustafa Moonim, Vice President, Eastern Europe and Middle East, Oracle Financial Services Software. Supporting Resources
Follow Oracle Financial Services on Twitter
Join the Oracle Financial Services Community on Facebook
Oracle in Financial Services About Oracle Financial Services Software LimitedOracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. For more information, visit www.oracle.com/financialservices. About OracleOracle is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit oracle.comTrademarksOracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners. Contact Info
Samuel Hall
Oracle
+44.118.924.6332
Samuel.hall@oracle.com |
|
|
| All Oracle Press Releases Mon, 19 Jul 2010 20:40:00 UTC |
|
