Oracle Press Release

Nedbank Migrates to Oracle FLEXCUBE to Enhance Customer Experience and Consolidate Business Operations

Oracle FLEXCUBE to Support Multi-Country Operations for the Bank

Redwood Shores, Calif. – January 23, 2014

News Facts

Nedbank Limited, one of the four largest banking groups in South Africa, with more than US$ $70bn in assets and offering services such as wholesale and retail banking, insurance, and asset management, has selected Oracle FLEXCUBE to modernize its infrastructure and improve operating efficiency and customer service delivery.
To help consolidate business operations and enhance the customer experience, Nedbank Limited will deploy Oracle FLEXCUBE to establish a single operating platform for its multi-country operations across five South African countries – Lesotho, Malawi, Swaziland, Namibia and Zimbabwe.
As a member of Africa’s largest banking network, the Ecobank Nedbank alliance, Nedbank Limited sought to better align its infrastructure with the alliances’ 1,500 branches across 35 countries which already use the Oracle FLEXCUBE – thus establishing a common business platform to better serve customers across Africa.

Supporting Quotes

“We will be consolidating our operations across the region by leveraging the capabilities of Oracle FLEXCUBE and experience the team has in delivering the projects in Africa. When we are complete with the migration from our existing application to FLEXCUBE we will have a common operating platform in the 35 countries of EcoBank Nedbank alliance, the largest banking network in Africa,” said Fred Swanepoel, Chief Information Officer, Nedbank Limited.
“Nedbank is taking an important step forward in streamlining its business operations to improve service delivery and enhance the customer experience across its network. Oracle FLEXCUBE enables NedBank to achieve its goals for consolidation to the bank and also enables NedBank to design products, test the same before launching them across the countries from its facility in South Africa,” said Chet Kamat, CEO and MD, Oracle Financial Services.

Supporting Resources

About Oracle

Oracle engineers hardware and software to work together in the cloud and in your data center. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.

About Oracle in Industries

Oracle industry solutions leverage the company’s best-in-class portfolio of products to address complex business processes relevant to financial services, helping speed time to market, reduce costs, and gain a competitive edge.

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Contact Info

Valerie Beaudett
Oracle
+1.650.400.7833
valerie.beaudett@oracle.com

Mary Tobin
O’Keeffe & Company
+1.503.658.7396
mtobin@okco.com