Oracle Flexcube core banking system gains new takers – FintechFutures
Oracle FS has announced its latest quarterly results and new takers of its flagship Flexcube core banking system.
The banking tech vendor says it signed licence fees of $27.5 million during the quarter with customers in 19 countries.
In India – the home of Flexcube – Aavas Financiers, which specialises in housing loans for the underserved segment across the country, signed for Flexcube.
In Cambodia, Wing Bank signed for Oracle’s core and branch solutions. Launched in 2008, the bank pioneered mobile financial services in the country. Today, it offers retail and corporate banking services including loans, deposits, micro-savings, credit referral services, money transfers, utility and insurance payments, supply chain payments, payroll services, and phone top-ups.
Another Cambodian financial institution, Prasac, the country’s largest microfinance institution (MFI), also opted for the Flexcube core (covering corporate lending, banking payments, trade finance, and treasury management) and the Oracle Banking Enterprise Limits and Collateral Management solution.
The vendor also scored a deal with an existing client in the US – the unnamed company, understood to be telco T-Mobile – has signed for Oracle Financial Services Lending and Leasing.
