Prominvestbank, one of Ukraine’s largest commercial banks, has selected Oracle Flexcube Universal Banking to standardise business processes and centralise banking operations, as well as provide real-time access to accurate information across the board.
Oracle Flexcube will allow the bank to better serve its 116,000 corporate customers and three million customer accounts, across more than 600 physical outlets, and support competitive growth.
With a focus on corporate banking, Prominvestbank intends to launch retail services. The implementation of Oracle Flexcube will establish a technical base from which to build these services. Additionally, Oracle Flexcube will centralise data on customer activity, removing the issue of multiple instances of applications and databases, and providing accurate data.
Prominvestbank was encouraged by its parent company, Russian-owned Veneshcenom Bank (VEB), to adopt Oracle Flexcube. It will work with Oracle’s local reseller partner JSC Sitronics during the implementation.
“Oracle’s impressive footprint in Ukraine and the availability of local Ukrainian speaking consultants through JSC Sitronics played a big part in our adoption of Oracle Flexcube Universal Banking. We want to grow and needed to standardise our processes and centralise our databases and applications. Now we can confidently plan for future expansion, knowing Oracle will proactively assist Prominvestbank’s growth, while allowing us to react swiftly whenever we need, with the help of local partners on the ground in Ukraine,” said Victor Bashkirov, chairman, Prominvestbank.
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