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
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.
“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.
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