Solution is now live across five countries helping BancABC to better service its customers
Oracle today announced that BancABC has gone live with Oracle FLEXCUBE Universal Banking Solution as a state-of-the-art banking platform on which to support its retail and corporate banking operations.
BancABC, previously known as African Banking Corporation, operates a number of sub-Saharan Africa banks in five countries; Zimbabwe, Zambia, Botswana, Tanzania and Mozambique. BancABC offers a diverse range of financial services including personal, business and corporate banking as well as asset management, stockbroking and treasury services.
BancABC needed to upgrade its banking platform in order to take advantage of additional features and the latest technology within Oracle FLEXCUBE Universal Banking while also reducing maintenance costs and enabling it to take new products and services to the market in a timely manner.
The Oracle FLEXCUBE Solution has allowed BancABC to consolidate its banking environment and remove separate solutions focused solely on its retail banking branch by bringing all operations under one common banking platform.
The highly scalable infrastructure provided by the Oracle FLEXCUBE solution has enabled BancABC to integrate its retail and corporate banking operations into one robust banking platform with standardised business processes and centralised banking operations.
Oracle FLEXCUBE Universal Banking Solution first went live in Zimbabwe in January 2011 and has now been rolled-out across all five countries of operation, with Mozambique the last to go live in November 2011.
The advanced open architecture of the Oracle FLEXCUBE solution enhances interoperability with third party systems, including its retail branch application, meaning the bank is able to get a clear picture of all its operations across multiple countries.
Due to visa regulations in the markets involved and particularly in Mozambique, Oracle undertook remote provisioning and implementation of the Oracle FLEXCUBE Universal Banking Solution through a secure VPN connection, one consultant on site and the Technology Deployment Management Services team in South Africa.
Mr. Jerry Gezana, Group Head Process and Systems Innovation, BancABC said: “We have worked closely with Oracle for many years so it was an obvious choice for us at BancABC when we were looking to bring our retail and corporate operations on to one banking platform. In order to best service our customers across multiple markets, we needed to invest in a scalable and flexible core banking platform to reflect the current and prepare for the future market conditions. The implementation of Oracle FLEXCUBE allows us to do just that, and from our previous experience with Oracle we had no doubt we would have the solution that we needed to continue to successfully operate in such a competitive, growing market.”
Mr. Chet Kamat, CEO and Managing Director, Oracle Financial Services Software said: “We are excited to see the successful go-live of Oracle FLEXCUBE Universal Banking Solution across all five countries for BancABC. We faced a marked challenge with visa applications, but found a way to provision the solution through a VPN connection, and worked closely with BancABC to ensure nothing set back the project. Through using a standardised, centralised solution such as Oracle FLEXCUBE, BancABC has been able to integrate all its operations and provide a better service for its customers.”