Amana Bank, based in Tanzania, has selected Oracle Flexcube Universal Banking and Oracle Flexcube Direct Banking to develop its core transaction processing system and internet banking capabilities.
The start-up Amana Bank is the first to provide Sharia-compliant banking products to customers in Tanzania.
Oracle was chosen to provide the back-office transaction-processing environment to support a wide range of Islamic financial products and help Amana Bank grow its customer base in the region. With the new system customers will be able to receive SMS alerts to notify them of significant transactions, while advanced security controls will provide access to information in a safe environment, protecting customer data from potential threats.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.