Low Cost and Easy to Deploy IT Solutions Create Momentum in the Financial Services Sector for Oracle

India, New Delhi – August 14, 2008

• Oracle India announced today that more than 250 mid-size financial services institutions, including co-operative and regional rural banks and co-operative credit societies, are using Oracle® Database and Oracle Fusion Middleware to help automate transactions, enabling them to conduct branch operations at a faster pace and increase the number of transactions per day.
• Institutions such as Buldana Credit Co-operative Society (Buldana), Cosmos Co-operative Bank (Pune), GMC Bank (Gandhidham), Mannappuram General Finance and Leasing Ltd. (Kerala), Punjab State Co-operative Bank, Rajasthan State Co-operative Bank, Rendal Sahakari Bank (Pune), South Malabar Gramin Bank (Kerala), The Varachha Co-operative Bank (Surat), Youth Development Co-operative Bank (Pune) are all running on Oracle Database and Oracle Fusion Middleware.
• Partners such as Datavision Software Solutions Pvt. Ltd., EBZ Online, Flexcel International, InfrasoftTech India Ltd, JJIT Software Solutions, HCL Infosystems Ltd., TM Systems Pvt. Ltd, Virtual Galaxy and Zenith Infotech Ltd. worked with Oracle to offer Oracle-based core banking solutions and total branch automation solutions for financial service institutions.

• “We chose Oracle because it is secure, compatible and easy to maintain,” said Mr. B. M. Todkar General Manager, Youth Development Co-op Bank Ltd, Pune. “Of late, security has become crucial for financial institutions and Oracle Database has what we need.”
• “Oracle Database powers our commitment to ‘be on time’ with customers,” said Mr. Shailesh M. Chhaniyara, IT Head, The Varachha Co.op. Bank Ltd, Surat. “With Oracle, secure and reliable availability of data has enhanced our customer service.”
• “In order to enhance our efficiency, we chose to implement FLEXCUBE, Oracle Database and Oracle Financial Services OnDemand. As a result of this we were able to replace the bank’s manual processes. At the same time, we were also able to enhance customer intimacy, which we built over many years, and ultimately develop greater competitive differentiation,” Punjab State Co-operative Bank Managing Director, Mr. PS Sidhu, said.
• “We are happy to be able to serve mid-size financial institutions with robust, end-to-end solutions,” said Mr. Anup Varma, Regional Director, Technology Commercial Sales, Oracle India. “Banks around the world and in India’s emerging cities rely on Oracle to help them streamline business processes, meet increasing regulatory compliance demands, and improve cost efficiency ratios, while providing greater value to customers.”