Oracle FS lands two new core banking tech deals in Uzbekistan
Oracle FS has signed two new clients for its flagship Flexcube core banking system in Uzbekistan. These are Ziraat Bank and a start-up challenger bank.
Ziraat Bank, which has been in the local market for more than 25 years providing retail and commercial banking services, has signed for a broad suite of Oracle products, including core, branch, payments treasury management, trade finance, and analytics. Ziraat Bank is a subsidiary of Turkish banking group Ziraat and was known as Uzbek-Turkish Bank until its rebrand in 2017.
The other recent deal is with a new bank in Uzbekistan, which will provide conventional and Islamic banking services once it launches. The bank will also implement a host of Oracle’s solutions in addition to the Flexcube core, including risk management, financial crime and compliance, and digital banking.
There are now four Flexcube takers in Uzbekistan – an impressive result considering Oracle FS had no business there just 18 months ago – following earlier deals with Universalbank and InfinBank.
Oracle FS is also working on a trio of front-end digital banking projects there, with Kapitalbank, National Bank of Uzbekistan, and Trustbank.