India’s Bandhan Bank goes live with Oracle’s Flexcube core banking tech
India-based Bandhan Bank has overhauled its core banking infrastructure with the help of US cloud tech giant Oracle.
Bandhan Bank completes core overhaul with Oracle
The private bank has gone live with Oracle’s Flexcube and Banking Digital Experience solutions in a push to enhance its digital offerings.
Additionally, Bandhan Bank has also implemented Oracle Payments, Retail Loan Originations, and Retail Internet and Mobile Banking services.
“Our rapid expansion required us to rethink the structure of our core banking operations,” explains Ratan Kumar Kesh, executive director and COO of Bandhan Bank.
Bandhan says that Oracle was selected to update its legacy systems as its tech solutions ensure “comprehensive compliance across all aspects of Core and Digital Banking”.
The bank’s comprehensive digital transformation was completed within a two-year timeframe, with the agreement between the two firms first signed in 2021. FinTech Futures understands that Bandhan Bank had previously used FIS’s Profile core banking system, provided on an outsourced basis.
Bandhan Bank originally served as a not-for-profit institution which provided micro-loans to underprivileged sections of Indian society. The bank is now one of the country’s largest private banks and claims to have a customer base of nearly 32 million with more than 6,250 outlets.
The bank is also planning to launch its own credit card by early FY 2024-25, which will also be powered by Oracle’s tech.
