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Oracle Customer Success—Banque Régionale de Marchés

Banque Régionale de Marchés

Banque Régionale de Marchés Deploys Innovative Banking Products and Services in Weeks

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Thanks to Oracle’s technologies, our bank prides itself in providing customers with tailor-made solutions to fit their business environments, and we can work closely with them to transform their business potential into sustainable value. Upgrading to Oracle FLEXCUBE Universal Banking 12.0.1 helped our bank bring the customer to the center of our business ecosystem, and it enabled us to be part of the most profitable banks in our market.

— Raymond Faye, Deputy CEO, Banque Régionale de Marchés

Banque Régionale de Marchés (BRM) is the first banking institution in the West African Economic and Monetary Union (UEMOA) region to become specialized in investment banking and capital markets. BRM relies on financial innovation to realize its mission of increasing the liquidity and efficiency of the UEMOA capital markets. With its expertise, BRM can build financing and placement solutions, such as savings plans with high yields, across national boundaries.

BRM customers enjoy tailor-made solutions that fit their business environments, goals, markets, and organizations. Through detailed analyses of customers’ specifics, BRM’s processes aim at transforming customers’ potential from dormancy to business value. By so doing, BRM can reveal the true value of its customers’ businesses.
 
Business Challenge
  • Enable rapid innovation and accelerate time to market for banking products and services by exploiting perceived market gaps to compete against larger banks and financial institutions
  • Increase client and market perception of the bank as a provider of individual financial solutions, differentiating it from other institutions that sell a limited range of prepackaged and often inflexible financial products
  • Build a knowledge infrastructure with easy access to multifaceted financial data—such as client loan and investment information or applicable taxation for financial products—to enable faster responses to client requests and to facilitate regulatory reporting
Results
  • Gained the ability to bring new banking products from concept to the marketplace within weeks—compared to months at competitive companies—by upgrading to Oracle FLEXCUBE Universal Banking 12.0.1 on Oracle Database, Enterprise Edition, enabling the bank to rapidly exploit opportunities in financial markets
  • Reduced end-of-day bank closing time from 25 minutes to between 10 and 18 minutes, thanks to Oracle FLEXCUBE Universal Banking 12.0.1, and ensured 99.85% system availability with Oracle Database, Enterprise Edition and My Oracle Support, so that the bank can always open and close its business days without delay
  • Enabled faster banking-product innovation, thanks to the inclusion of business logic in financial solutions provided by Oracle FLEXCUBE Universal Banking 12.0.1—such as extensions added to savings plans, so that large savers can stay below tax thresholds on interest received and enjoy superior returns on investments
  • Ensured enterprise-class reliability and high availability critical to meet customers’ 24/7 banking needs by using Oracle Database, Enterprise Edition as a foundation for the company’s banking platform
  • Used Oracle FLEXCUBE Universal Banking tools and automation to set definitions and parameters for structured investments—in terms of financial calculations, taxation applicability, customer advice, and notice periods—providing flexibility and transparency throughout the investment process
  • Enabled provisioning various loan products with structured funding and inbuilt control mechanisms, so that the bank can forecast and realize returns throughout the lifecycle of the loan and not just on the due date—minimizing loan risk while providing the ability to offer attractive loan conditions to clients
  • Enabled flexibility to offer products to suit clients’ individual investment and credit needs, greatly enhancing market perception of the bank as a financial solutions provider, and providing the bank with a substantial competitive advantage compared to institutions that simply sell a limited set of packaged investment options
  • Enabled a 360-degree view of each client’s assets and liabilities on a single Oracle FLEXCUBE Universal Banking platform, so that banking staff have all pertinent information at hand when speaking to a client, rather than having to forage through various credit, savings, and loan systems—greatly enhancing client relationships
  • Increased client reporting capabilities, thanks to Oracle FLEXCUBE Universal Banking’s structured data management, and used Oracle Business Intelligence Standard Edition, which allow users to intuitively generate regulatory reports for various financial authorities, including the Senegalese central bank, and the Senegalese banking commission, in addition to running management reports regarding client profitability
  • Provided flexibility to easily operate and forge partnerships with other banks and financial institutions, thanks to Oracle FLEXCUBE Universal Banking’s standards-based technologies, increasing the scope of financial services and solutions offered by a wholesale bank
  • Used Oracle WebLogic Server 11g to enable the bank’s Oracle FLEXCUBE Universal Banking users to access the system from anywhere via the web while also providing secure access by clients
  • Facilitated management of complex, structured banking products, providing better performance through multifaceted investment funds placed on various trusted markets, leading to higher returns for customers

 

Our key selection criteria included speed of installation, a short time-to-market for our products, and broad functionality. Ultimately, the choice came down to Temenos T24 or upgrading to Oracle FLEXCUBE Universal Banking 12.0.1. We researched systems used by banks overseas and learned that, by staying with Oracle, we would have wider coverage for the product lines that are our bread and butter—for example hedge transactions in securities—which T24 cannot do. Also, with Oracle we always benefit from strong support service, which is vital for our business, as we cannot afford to have interruptions in our services due to software problems. Oracle enables us to support innovation within a single environment, while providing sustainability to implement new services according to market needs without needing to invest in new software acquisitions. We now have the banking platform to build products and services according to our wishes.

— Raymond Faye, Deputy CEO, Banque Régionale de Marchés

About Banque Régionale de Marchés

Headquarters

 
Dakar, Senegal

Employees

 
55

Annual Revenue

 
Under $100 Million
Published:  Nov 04, 2014