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Aman Bank

Oracle Customer Success

Aman Bank fuels growth by embracing Oracle Digital Banking

Summary

The Libya-based bank sees huge growth in active accounts after using Oracle solutions for core banking, digital banking, and anti-money laundering.

Business challenges

Aman Bank has ambitious growth plans and aims to keep pace with evolving customer needs. To support these fundamental business objectives, the bank looked to invest in next-generation core banking and digital banking solutions. Specifically, Aman Bank required a seamless, digital solution that could span multiple channels, including branches, ATMs, kiosks, the internet, mobile browsers and applications, and social media.

Regulatory compliance excellence is also critical for the seamless execution of the bank’s growth strategy. Aman Bank, therefore, understands the importance of investing in world-class anti-money laundering solutions.

The bank trusted Oracle and Oracle partner JMR Infotech to help it achieve both goals.

Customer needs are evolving—and digital banking capabilities are the new standard. Oracle FLEXCUBE and Oracle Banking Digital Experience enabled us to deliver for our customers—making banking more efficient and convenient.

Khemais Changuel

IT Project Head, Aman Bank

Why Aman Bank Chose Oracle

Aman Bank’s strategy is to work with vendors it trusts. As an Oracle customer since 2015, Aman Bank had successful implementations under its belt. When it came time to upgrade and implement a solution for digital banking, Aman was confident in Oracle’s and partner JMR Infotech’s ability to deliver. In fact, Aman was the first bank in the region to deploy Oracle Banking Digital Experience in the Arabic language. 

Results

Since upgrading its Oracle FLEXCUBE core banking environment and deploying Oracle Banking Digital Experience, Aman Bank has grown from 300,000 to more than 1.5 million active accounts.

Digital capabilities are fueling this expansion. Customers now have more control and flexibility. They can easily transfer money between accounts at Aman Bank or to any other Libyan financial institution with no fee and can pay bills online at their convenience.

In addition, customers can now open an account and make cash deposits without visiting a branch. They can activate a checking account in three minutes and personalize a credit card in about the same amount of time.

The bank also is rapidly expanding its digital payment network, helping customers ensure safe, cash-free transactions. Today, more than 120,000 customers use the prepaid cards, and Aman has grown its network to 4,000 merchants in Tripoli using QR-based payments, with plans to continue expansion.

Further, to support increasingly stringent regulatory requirements, Aman Bank deployed Financial Crime and Compliance Management, including solutions for anti-money laundering, Know Your Customer, and customer screening.

Partners

Aman bank relied on JMR Infotech as its end-to-end partner for this initiative. JMR Infotech executed the core banking and internet/mobile banking upgrade. It also implemented Oracle Banking Digital Experience for Android and iOS, along with chatbot functionality with Facebook Messenger, merchant QR payments, kiosks, and soft tokens.

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Published: April 15, 2021