Oracle Financial Services Celebrates Landmark Year for Adoption of Oracle FLEXCUBE, With More Than 65 Deployments in 12 Months

BOSTON, MA and SAN FRANCISCO, CA--(Marketwired - Sep 30, 2014) - SIBOS and ORACLE OPENWORLD, SAN FRANCISCO -- Oracle (NYSE: ORCL)

News Summary
Oracle today announced that its Oracle FLEXCUBE core banking solution has enjoyed a landmark year, with banks across the globe selecting the solution and enjoying rapid and successful deployment. More than 500 banks have chosen Oracle FLEXCUBE as the foundation for their banking operations -- 65 in the last 12 months alone -- firmly establishing the solution as the core banking system of choice for a broad range of banks facing diverse local market challenges. In addition, Oracle FLEXCUBE is now available as an Oracle Managed Cloud Service.

News facts

• Oracle announced today that 65 customers have deployed Oracle FLEXCUBE in the last 12 months, with 42 of those customers going live. Highlighted customers include:
  • Volksbank, Romania, which selected Oracle FLEXCUBE to replace its existing application Misys Midas, using IBM AS400 and DB2 as hardware and software infrastructure, and to enable the bank to consolidate its operations on a unified technology and application platform.
  • Azizi Bank in Afghanistan, which selected Oracle FLEXCUBE to consolidate its operations across its acquired entities and to expand its presence in the country.
• Several banks around the world that have entered the market with new banking licenses have benefited from Oracle's rapid deployment model for Oracle FLEXCUBE.
  • A recent entrant in the Central Eastern Europe region deployed Oracle FLEXCUBE Direct Banking and Oracle FLEXCUBE Universal Banking in less than two months.
  • United Commercial Bank Limited, Bangladesh went live with Oracle FLEXCUBE in less than six months.
  • TNRB Bank Limited, the first private-sector bank in Bangladesh to be set up by nonresident Bangladeshis, selected Oracle FLEXCUBE to deliver services for more than 8 million nonresident Bangladeshis around the world.
• Oracle FLEXCUBE is now available as a managed cloud service.
  • The recent winner of a new banking license in the United Kingdom has selected Oracle FLEXCUBE and plans to deploy the solution as an Oracle Managed Cloud Service
• Oracle FLEXCUBE continues to power global transaction banks.
  • Oracle FLEXCUBE is already deployed at three of the top five banks headquartered in North America and in more than 70 financial institutions across the globe for transaction banking services.
  • A bank that operates in six locations worldwide selected Oracle FLEXCUBE for its international operations; the bank's first deployment was in the Cayman Islands.

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