As the regulator, National Bank of Cambodia plays an important role in the design and implementation of the financial sector development program for the Kingdom of Cambodia. National Bank of Cambodiaâs implementation of a new, integrated core banking system is viewed as a critical component of the development program and has the ongoing support of the Asian Development Bank.
Oracle FLEXCUBE will help automate National Bank of Cambodiaâs current processes for operations across deposits, loans, foreign exchange, money markets, securities, funds transfer and asset management. As a leading provider of banking applications to global financial institutions, Oracle will enable National Bank of Cambodia to take advantage of Oracle FLEXCUBEâs proven transaction-processing capabilities and process framework to help standardize operations and incorporate industry best practices into the bank.
The project includes two local partners, interFlex Co. Ltd and Neeka Ltd. interFlex will provide National Bank of Cambodia with environmental software and implementation services for the core banking implementation. Neeka, part of the Thakral Group of Companies, will provide the hardware infrastructure and support services for the project.
âWe see technology as a key enabler in the modernization of our financial system and are taking steps to deploy a core banking system that provides a platform for effectively and efficiently managing growth,â said Mr. Thai Saphear, Head of the Governorâs Office, National Bank of Cambodia. âIn Oracle FLEXCUBE, we have found a solution with the comprehensive functionality we require as a central bank. The overall solution offered an integrated technology set that we expect will enable a straightforward implementation and a platform that we can build on for future initiatives. We are also pleased to be able to use local partners, Interflex and Neeka, in combination with our strategic relationship with Oracle Financial Services Software.â
âNational Bank of Cambodiaâs efforts to modernize the banking industry in the country are extremely important,â said A. Srinivasan, Chief Operating Officer and Vice President, Sales, Asia Pacific, Oracle Financial Services Software. âWe are confident that National Bank of Cambodiaâs selection of Oracle FLEXCUBE will play an important role in ensuring that Cambodia is prepared for an era of growth and expansion.â