Business software vendor Oracle today announced FLEXCUBE Universal Banking deals with Dombivli Nagari Sahakari Bank in India and Debub Global Bank in Africa.
Dombivli Nagari Sahakari Bank, a scheduled urban cooperative bank in Maharashtra, India, has selected Oracle FLEXCUBE Universal Banking to transform its banking operations.
The deal finalized in May 2014 and being executed in 2015 will assist DNS Bank to grow to more than Rs 15,000 crore with more than 100 branches by 2019 from 42 branches spread across 13 districts of Maharashtra with a business mix of Rs 5,500 crore at present.
By implementing a core banking solution based on Oracle FLEXCUBE, DNS Bank plans to optimize its operational efficiency, profitability, and growth. With Oracle FLEXCUBE, DNS Bank hopes to provide better customer experience, faster delivery of new and agile products and services and banking channels such as mobile and internet banking.
DNS Bank is the first cooperative bank in India to implement Oracle FLEXCUBE, replacing the bank’s existing legacy system.
“Changing our core system to a modern core banking system such as Oracle FLEXCUBE is a huge step ahead in our evolution. We are pleased with the functionality that Oracle FLEXCUBE delivers, its modern architecture, and its adaptability to the requirements of a cooperative business model such as ours,” said Uday Karve, chairman of DNS Bank.
Meanwhile, Debub Global Bank (DGB) Africa will deploy Oracle FLEXCUBE Universal Banking, Oracle’s SPARC T5-2 server, and Oracle’s StorageTek storage solutions as part of Anywhere, Any Branch cross-channel strategy.
Aman Semir, IT director and CBS project manager, Debub Global Bank, said: “Debub Global Bank has transformed its legacy platform to improve the customer experience with faster time to market of new, tailored product offerings and drive exponential customer growth.”
DGB will benefit from consolidated customer and product details across all banking departments. The combination of Oracle FLEXCUBE software with Oracle hardware will help the bank protect its data, reduce its operational costs and improve time to market as well as deliver a better customer experience.