Bank Improves Operational Efficiency and Offers Superior Customer Service with Oracle FLEXCUBE
London, UK – July 15, 2010
News Facts
Bank Respublika, one of the leading private sector banks in Azerbaijan, announced that its banking technology platform of choice, Oracle FLEXCUBE (www.oracle.com/us/industries/financial-services/046907.html) for Universal Banking and Direct Banking, is now live.
Oracle FLEXCUBE for Universal Banking allows the bank to launch highly competitive products quicker and more efficiently than before, offer vastly superior services over multiple channels like the Web, ATMs, mobiles and other hand-held devices, and improve its overall operational efficiency.
Additionally, Oracle FLEXCUBE for Direct Banking allows the bank to adopt cost efficient, modern, and alternative models of banking via the Internet to increase its brand awareness with globally mobile and technologically savvy customers.
With Oracle FLEXCUBE, the bank hopes to improve its lending and deposits lines of business at an average growth rate of 20% year on year basis
The bank’s rollout project was completed in 12 months, helping to ensure a smooth, well-coordinated transition to the new platform at the bank.
Supporting Quotes
“We are delighted that our bank is now operational on Oracle FLEXCUBE’s world class banking platform,” says Ms Khadija Hasanova, Chairperson of Executive Board, Bank Respublika. ‘’The platform’s inherent flexibility has allowed us to adapt it to the unique needs of the Azerbaijan market. Moreover, Oracle FLEXCUBE has ushered in greater operational control and efficiency to help us reduce risk, improve transparency to various regulatory authorities and considerably reduce costs.’’
‘Working closely with Bank Respublika in their transformation program is particularly fulfilling for us. We are now able to bring global best practices to banks with a will to succeed,like Bank Respublika” says Mustafa Moonim, Vice President, Sales, Eastern Europe and Middle East regions. “One of the key highlights of our engagement with Bank Respublika is the manner in which the entire program was rolled out ahead of the planned schedule, thanks to the fantastic coordination between our two teams.”
Supporting Resources
Oracle in Financial Services (www.oracle.com/us/industries/financial-services/index.htm)
Follow Oracle Financial Services on Twitter (www.twitter.com/oraclefs)
Join the Oracle Financial Services Community on Facebook (www.facebook.com/OracleFS)
About Bank Respublika
Bank Respublika started its operation in 1992 and is now one of the leading banks of Azerbaijan. The Bank's shareholders include 2 of Germany's largest financial organizations – DEG, a member of the KfW banking group, and SIDT, a member of Sparkassen-Finanzgruppe, which hold a package of 25% + 1 share in the bank.
About Oracle Financial Services Software Limited
Oracle 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 (www.oracle.com/financialservices) .
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Contact Info
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Samuel Hall
Oracle
+44.118.924.6332
Samuel.hall@oracle.com
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