SEB Bank Reinforces Market Leadership with Streamlined, Agile, Advanced Core Banking Processes
 
 

SEB Bank Reinforces Market Leadership with Streamlined, Agile, Advanced Core Banking Processes

Printer View Printer View

SEB Bank, a leading commercial bank in Lithuania, offers a wide range of banking, investment, and insurance services to its corporate, business, and private customers. The bank has 57 branches in Lithuania and also serves customers through internet banking channels and automated teller machines.

 
 

 
 

Challenges

A word from SEB Bank

  • Universal Banking provide financial sector organizations with flexible, comprehensive solutions to real-life business problems that help drive competitive advantage and market share in a dynamic, client-driven environment. We chose Oracle FLEXCUBE for its SOA-based architecture that interfaces with our third-party and in-house solutions. It delivers end-to-end automated deposit and loan management processes that we can update at the speed of business demand.” – Jonas Gudmundsson, Head of IT, SEB Bank

  • Enforce standardized, customer-centric deposit management and loan handling via all locations and channels
  • Grow market leadership by bringing innovative new products to market ahead of competitors to meet dynamic client needs
  • Integrate customer-facing loan and deposit handling processes with back-office banking systems seamlessly and flexibly to optimize security and cut costs via straight-through processing
  • Streamline compliance with global financial sector legislation governing risk, security, and transaction traceability

Solutions

Oracle Product and Services

  • Replaced disparate, inconsistent loan and deposit handling processes with Oracle FLEXCUBE Core Banking to create a single Web-based suite of processes and solutions, as part of SEB Bank’s one-IT-technology standardization roadmap
  • Implemented Oracle FLEXCUBE Universal Banking to develop a payment hub for domestic and international payment routing that is compliant with international financial security and traceability standards
  • Worked with financial services experts at Oracle Consulting to migrate data from disparate legacy systems
  • Used Oracle FLEXCUBE’s process-driven functionality to build automated processes, based on industry-leading practices
  • Expanded transaction automation using Oracle FLEXCUBE’s service oriented-based architecture to interface the loan and deposit handling functions with the existing application environment through Web-services
  • Decreased transaction cycle times for loans and deposits and reduced administration with around-the-clock online customer service
  • Enforced industry-standard risk management, online validation, and secure customer and employee access
  • Leveraged Oracle FLEXCUBE to update and amend product offerings rapidly and inexpensively while meeting customer needs and regulatory requirements