The Mauritius Commercial Bank Delivers the First Mobile Banking Service in Mauritius with Oracle FLEXCUBE Direct Banking

Reading, UK - 30 April 2012

Oracle enables the internet functionality of the banking platform to go live in just over three months

Oracle today announced that The Mauritius Commercial Bank (MCB), the oldest and largest banking institution in Mauritius, and one of the leading banking institutions in the Indian Ocean and in the Sub-Saharan region, has implemented Oracle FLEXCUBE Direct Banking to provide internet and mobile banking services to customers

MCB is the first bank in Mauritius to introduce mobile banking services and 96 per cent of its registered mobile banking users are already actively using the facility

The internet banking functionality of the Oracle FLEXCUBE Direct Banking platform was swiftly implemented in just over three months to meet the bank’s go-to-market requirements. This was achieved without compromising on usability or security

The internet banking solution is now live across Mauritius and the Maldives and it will shortly be implemented in Mozambique

Since the roll out of the new solution, the bank has experienced a 24 per cent increase in retail internet banking and a 29 per cent increase in corporate internet banking usage

With the Oracle Direct Banking platform, customers can manage mobile top-ups and self-register for mobile banking services, as well as access their investment portfolio from their mobile device. To enable these feature enhancements, additional functionality was added to the base banking platform

The bank chose Oracle FLEXCUBE Direct Banking because of its depth of functionality – including its multi-country, multi-entity, multi-lingual and multi-currency capability – to support its varied geographical requirements

Oracle FLEXCUBE Direct Banking is helping MCB to meet its objectives to expand its existing customer base across geographies, lower service costs, and significantly reduce back office processes to reduce overall operational overheads

Oracle and MCB are extending their relationship with this addition of Oracle FLEXCUBE Direct Banking to the existing portfolio of Oracle products and services in use at MCB, including Oracle Relationship Database Management System (RDMS) and Oracle E-Business Suite

Jean-Michel Felix, Head of Group Audit and Program Director, The Mauritius Commercial Bank, Mauritius said: “The Mauritius Commercial Bank is the first to introduce mobile banking services into the country so it’s vital that we offer the types of services that our customers are demanding with the technical platform to process the transactions. We chose Oracle as it has a proven banking customer base with a history of successful implementations in situations where integration with third party software was necessary. Oracle FLEXCUBE Direct Banking is enabling us to provide best-in-class mobile and internet banking services to all our customers.”

Mr. Chet Kamat, CEO and Managing Director, Oracle Financial Services Software said: “Oracle is excited to be a part of the first mobile banking service available in Mauritius. Oracle FLEXCUBE Direct Banking’s ability to scale and integrate with legacy software, means The Mauritius Commercial Bank can easily offer innovative new service offerings as customer requirements evolve. From a revenue perspective, MCB will benefit from being able to reach a larger customer base and the reduced operational overheads that the Oracle direct banking solution makes possible.”

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