India’s CSB Bank taps Oracle for Flexcube core
CSB Bank, a full service bank headquartered in Thrissur, India, has signed up for Oracle’s core banking system Flexcube.
CSB Bank taps Oracle for Flexcube core
The partnership will see the bank integrate Oracle’s core banking, payments, digital banking, trade financial, virtual accounts and analytics software.
CSB Bank provides a wide range of banking services to more than 2.15 million customers and businesses across India, with its SME banking, retail banking, corporate banking and treasury operations serving as its four main business areas.
The cloud-based Oracle Flexcube solution is set to replace Maarvel, CSB Bank’s homegrown core banking solution developed in 2008 through a partnership with Chennai-based banking solutions vendor Laser Soft.
The bank’s transition to the Flexcube core is expected to be wholly overseen by Oracle as part of an annual maintenance contract, which promotes a specific focus on the migration of data and customisation.
Through its new partnership with the US-based software provider, CSB Bank has become the latest financial institution to select the Flexcube core banking solution, following in the footsteps of Myanmar’s Farmers Development Bank, Ethiopia’s Omo Bank and Teachers Savings and Loan Society (TISA) in Papua New Guinea.
