EXCLUSIVE: Oracle wins new core banking deals in Sudan, Somalia & Libya
Oracle Financial Services has won a bevy of new deals in Africa, signing contracts with banks in Sudan, Somalia, and Libya, FinTech Futures understands.
The vendor beat out competition from rival firms Temenos and Path Solutions, it is understood, to win a deal with Sudanese Balad Bank, a commercial lender based in the country’s capital of Khartoum.
Libyan Islamic bank Andalus Bank is another to have selected Oracle as its systems provider, with the Mumbai-based vendor again beating Temenos in the final selection stage.
Oracle has also nailed down a deal with Islamic bank Dahabshil Bank International, based in Somalia. The bank, a subsidiary of funds transfer group Dahabshiil, was founded in 2014. It offers commercial, private and retail banking services.
Path Solutions, ICSFS, and Temenos were also all understood to be in the running for the deal with Dahabshil.
A spokesperson for Oracle tells FinTech Futures: “We’re seeing a lot of momentum at the moment, working with new clients to support their transformations and expansion in a fast-growing and exciting region.
“We’re looking forward to announcing some of these deals soon where possible.”
Oracle has won and extended plenty of African deals in the past few months.
FinTech Futures understands that Fidelity Bank in Ghana and Access Bank in Nigeria have both extended their contracts with Oracle.