Bank Technique OJSC has selected Oracle FLEXCUBE Universal Banking to replace a Temenos T24 core banking platform. Operating across Azerbaijan, it has also chosen FLEXCUBE Direct Banking to provide its 150,000 corporate and retail customers with mobile access to all products.

The contract also includes Oracle Financial Services Data Foundation to consolidate data scattered across multiple disparate systems and Oracle Financial Services Analytical Applications Infrastructure to enable insights to be quickly turned into products for a multi-channel banking market. The first phase of the implementation is underway and is due to be followed by the roll-out of Financial Services Data Foundation and Analytical Applications.

Ulvi Mansurov, CEO and chairman of the Board, Bank Technique says: “From my previous experience, there was no question that Oracle was the right company to provide us with a stable, streamlined core banking solution that would require minimal manual intervention. When I started at Bank Technique data was scattered across different systems and was of little use to the bank for making quick decisions, offering innovative new products, or for providing our corporate and retail customers with an excellent service when and where they needed it. With the Oracle FLEXCUBE core banking platform, Oracle Data Foundation and Oracle Analytical Applications, I am excited and confident that Bank Technique will grow its market share in a way that would have been impossible with the previous technology infrastructure in place.”

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