Rang-ay Bank, a rural bank considered one of the biggest and most profitable financial institutions in Northern Luzon – has chosen Oracle’s FLEXCUBE Universal Banking solution to modernize its existing operations. By deploying Oracle FLEXCUBE, Rang-ay will have a single, centralized system for its critical banking operations and the capability to consolidate and automate multiple business functions.
Rang-ay Bank, one of the leading rural banks established in 1956 in the Philippines, has selected Oracle FLEXCUBE Universal Banking to help consolidate its operations and transform how it delivers services to its customers.
Oracle FLEXCUBE Universal Banking will replace the bank’s legacy system and deliver a single operating platform to connect, view, and manage multiple businesses and customer transactions from the growing number of Rang-ay Bank’s branches across Luzon.
With Oracle FLEXCUBE, Rang-ay Bank aims to achieve better operational efficiency, enhanced customer service delivery, improved speed and accuracy of decision making and the capability to deliver new products faster.
On completion of migration to Oracle FLEXCUBE, Rang-ay Bank can have the capability to join the ATM consortium in the country and to provide anytime and anywhere banking and payment services to its growing customer base in the region.
Kris FinSoftware, a Gold-level member of Oracle PartnerNetwork (OPN) in the Philippines, will host the Oracle FLEXCUBE solution on Oracle Business Process Services, allowing the bank to focus on their core business challenges instead of IT management.
“Rang-ay Bank has provided modern banking services to the countryside since 1956 and is committed to being an effective partner of the government in the development of local communities, thereby enhancing greater financial inclusion. We have to step up and deliver services that meet the changing expectations of our clients. We are renewing our systems for core banking,” said Ives Nisce, President and CEO, Rang-ay Bank. “We found the right balance in Oracle, with a proven application platform, rich experience in technology-led transformation and flexibility in accessing the software as a business process service from Krisfinsoft. We expect this engagement with Oracle to help us stay focused on the delivery of financial services to our clients and address the growth opportunities,” he added.
“Rang-ay Bank joins a growing list of financial institutions around the world that have deployed Oracle FLEXCUBE Universal Banking for consolidating operations to a common platform in order to address growth and help reduce cost. We are confident Oracle Business Process Services delivered by our partner can provide a very robust, secure processing environment for Bank. This also enables the bank move to an opex model to deliver higher operational efficiency and leverage resources outside the bank,” said Venkatesh Srinivasan, vice president, sales, Asia Pacific, Oracle Financial Services.
