Kapital Bank Leverages Oracle® FLEXCUBE Universal Banking to Help Expand the Size of its Banking Operations
Mumbai, India – February 4, 2009
News Facts
Oracle Financial Services Software, a majority-owned subsidiary of Oracle Corporation, today announced that Kapital Bank, a leading bank in Azerbaijan, is using Oracle® FLEXCUBE Universal Banking to help expand the size and depth of its banking operations across its network of 88 branches.
After selecting Oracle FLEXCUBE Universal Banking, Kapital Bank worked with Oracle Financial Services Software to deploy the solution in less than 11 months.
Oracle FLEXCUBE’s process-centric approach has helped enable the bank to optimize business performance by using industry best practices with an ability to define, implement and monitor the effectiveness of its processes.
The solution has helped provide the bank with an application platform that enables it to seamlessly conduct its operations in both domestic and international markets.
Oracle FLEXCUBE has also helped the bank enhance its risk management practices through comprehensive audit trails and limit tracking across customer segments.
Supporting Quotes
“We wanted to roll out Oracle FLEXCUBE to help expand the size of our banking operations and completed the project in under 11 months. This solution is a complete banking product suite covering all areas of banking needs and has enabled us to adopt international standards and meet regulatory requirements. Our association with Oracle Financial Services Software, over the past 18 months, has helped us to translate opportunities in the market into tangible results,“ says Rauf Razayev, Chairman, Kapital Bank.
“Kapital Bank was our first deployment in the country and we had a tremendous success in the joint engagement with the bank. We are very pleased with the outcome for Kapital Bank. Banks in the region have shown great acceptance of Oracle FLEXCUBE and the success at Kapital Bank has helped provide us with the foundation for this achievement,” says Mustafa Moonim, Vice President, Europe & Middle East Sales, Oracle Financial Services Software.
Supporting Resources
About Kapital Bank
Kapital Bank (formerly named United Universal Joint-Stock Bank) was formed in 2000 through the merger of three major governmental banks in Azerbaijan, i.e. Agro-Investment Bank, Industrial-Investment Bank and Savings Bank. Kapital Bank provides a wide range of banking services both for corporate clients and individuals. Kapital Bank provides financing to the chemical and gas industries, agriculture, transportation, and communications, For more information, visit www.kapitalbank.az/eng.html.
About Oracle Financial Services Software Limited
Oracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. Oracle Corporation [NASDAQ: ORCL] is the world's largest business software company. For more information, visit www.oracle.com/financialservices.
Trademarks
Oracle is a registered trademark of Oracle Corporation and/or its affiliates. FLEXCUBE, Daybreak, Mantas and Reveleus, are trademarks of Oracle Financial Services Software and are registered in several countries. Other names may be trademarks of their respective owners.
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