New core banking software deals for Oracle FSS
In its latest quarterly financial results, Oracle FSS says it has signed licence deals worth $29 million during this quarter with customers in 35 countries.
In the core banking space, Oracle’s flagship core banking system – Flexcube – has been chosen by Xalq Bank in Azerbaijan. The full-service bank has also taken Flexcube Enterprise Limit and Collateral Management tools. In the financial results the vendor refers to “a prominent commercial bank in Azerbaijan” as its new client, which is believed to be Xalq Bank.
FinTech Futures understands that Xalq Bank will replace the Forpost core system from a Baltics-based banking tech vendor, Forbis (installed at the bank at the start of this decade).
Elsewhere, Oracle FSS has onboarded a new Flexcube user in its home market of India – Bassein Catholic Co-operative Bank – it is understood. On the way out there is the OmniEnterprise system from another Indian tech vendor, Infrasoft, to FinTech Futures’ knowledge. “A scheduled co-operative bank in India has chosen to implement Oracle’s end to end banking solution set comprising of Oracle Flexcube Universal Banking, Oracle Flexcube Core, Oracle Banking Payments, Oracle Banking Digital Experience and Oracle Banking APIs,” the vendor says in its financial results.
Cooperativa de Ahorro y Crédito de la Comunidad de Ciudad Quesada RL (COOCIQUE), a credit and savings cooperative for micro and small entrepreneurs and farmers in Costa Rica, has opted for the Flexcube core, digital banking, payments, enterprise limits and collateral management solutions.
In Laos PDR, a new taker of Flexcube Universal Banking is Krungsri Leasing Services (KLS), FinTech Futures understands.
In Africa, Oracle FSS has gained a massive expansion deal with its existing client, Ecobank. Although the bank is not named by the vendor, FinTech Futures understands that it is Ecobank that is highlighted in the results: “A prominent African bank, offering services in multiple countries, has chosen to extend its relationship with Oracle by signing a deal for Oracle Banking Digital Experience, Oracle Banking APIs, Oracle Flexcube Universal Banking, Oracle Banking Payments, Oracle Banking Corporate Lending, Oracle Banking Credit Facilities Process Management, Oracle Banking Trade Finance Process Management and Oracle Banking Corporate Lending Process Management”.