Oracle Customer Success — Enat Bank S.C.

Enat Bank S.C.

Enat Bank Boosts Market Share and Client Service with End-to-End Oracle Solution

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With our comprehensive Oracle banking solution we have increased operational efficiency, ensured regulatory compliance, provided managers with instant reports, and significantly enhanced our service offerings to include anytime, anywhere banking—delighting customers and growing our accounts by 50%.

— Dinku Kassaye, CIO, Enat Bank

Enat Bank Empowers Women Across Ethiopia by Delivering World-Class Banking Services on Engineered Systems

Enat Bank was established by some of Ethiopia’s leading visionaries and businesswomen with a goal to create a new bank that was open to everyone, with a special focus on women. The bank believes in supporting projects that impact the lives of the local society, and empowers women by supporting them to make customized deposits, access credit, and finance their children’s education. Enat Bank also caters to the needs of large corporations and small businesses, providing all customers with exemplary services. The bank continually researches the best ways to ensure its products reach women on a progressive and incremental basis, and its founders envision the development and expansion of Enat Bank’s model across Africa.

 
Challenges
  • Increase customer satisfaction and market share by providing faster in-branch services and introducing more convenient products such as internet banking
  • Enhance operational efficiencies, security, and management controls across all bank branches to boost service delivery and facilitate compliance with banking regulations
  • Improve operational decision making and cash management by providing senior staff, such as branch supervisors and regional managers, with up-to-the-minute information on deposits and withdrawals
  • Boost employee productivity and customer service by increasing the availability of core banking system while also reducing infrastructure costs
  • Increase reporting speed and complexity to support internal and external audits and drive strategic decisions for opening new branches or launching new services targeted to particular customer segments
Results
  • Enhanced customer satisfaction, reduced costs, increased management controls, and optimized operational efficiencies by deploying Oracle FLEXCUBE Universal Banking solution on SPARC T-5 servers as part of a fully-integrated Oracle solution for all mission-critical banking services
  • Provided anytime, anywhere banking—a significant improvement over previous service where customers needed to visit their specific branch to conduct basic operations—boosting customer satisfaction and supporting a 50% increase in the number of customer accounts since Oracle FLEXCUBE Universal Banking implementation
     
  • Enabled managers to instantly see the current financial positions of each branch, including deposit and withdrawal amounts and other business critical data—previously only available the following business day—enhancing operational decision making and business agility
  • Eliminated frequent core banking system downtime by implementing Oracle FLEXCUBE Universal Banking on SPARC servers in an active-active configuration with Oracle Solaris Cluster—achieving 99.99% uptime since deployment—boosting employee productivity across the bank while ensuring that online services are always available for customers
  • Improved service delivery by automating processes and consolidating customer and product details across all banking departments and branches—enabling bank tellers to serve customers faster, branch supervisors to closely monitor all performed transactions, and customers to receive a high level of service from any of Enat Bank’s 21 branches
  • Enhanced security and operational risk management controls—for example by providing Oracle Solaris role-based user access for more than 200 employees—increasing Enat Bank’s stability and enabling it to meet all regulatory requirements from the Ethiopian central bank
  • Enabled 30,000 customers to more easily manage their accounts thanks to mobile banking services and the opportunity to receive instant notifications on their mobile phones regarding recent account transactions
  • Boosted reporting capability to facilitate internal and external audits, provide managers with instant online end-of-day or end-of-month reports, and enable in-depth analysis and customer segmentation to help launch innovative banking products—for example targeted specifically towards women or small businesses
  • Enhanced end-of-day operations across all bank branches thanks to a centralized core banking system running on high-performance SPARC servers—for example reducing daily backup times from up to 120 minutes to less than 20 minutes on SL150 Tape Libraries
  • Reduced IT costs by using Oracle VM Server for SPARC and Oracle Solaris virtualization technology to fully virtualize all seven servers—saving expenditure for separate physical servers and rack cabinets
  • Increased employee productivity and faster reporting speed made possible by the ultra-low latency performance of Oracle All-Flash FS Storage System

 

Our evaluation team found Oracle FLEXCUBE Universal Banking to be the best overall core banking solution. We have optimized performance and integration by running it on SPARC servers and using Oracle as a single vendor for all our banking needs.

— Dinku Kassaye, CIO, Enat Bank

About Enat Bank S.C.

Headquarters

 
Addis Ababa, Ethiopia

Employees

 
300

Annual Revenue

 
US$10 million

Enat Bank’s founding in 2013 by prominent Ethiopian businesswomen marked a unique point in African banking history. Its mission is to provide best-quality banking products and services, especially for women, which make up 50% of its customer base and more than 64% of its 10,000 shareholders.

Partners

Enat Bank collaborated with Alta Computec and BFSI Consulting to implement its state-of-the-art banking solution from Oracle well within the timeframe and to the complete satisfaction of all stakeholders.

“Alta Computec consultants excelled in their project management, technical skills, delivery, and commitment in supplying, installing, commissioning, and integrating all systems and devices with professionalism and at a considerable speed. BFSI Consulting’s rich implementation knowledge of Oracle FLEXCUBE enabled us to rapidly adopt a wide range of best practices,” Kassaye said.

Published:  Nov 04, 2016