Press Release

Bank of Africa UK Lays Foundation for Digital Innovation with Oracle Cloud Infrastructure

Leading African wholesale commercial bank runs mission-critical systems on OCI for higher performance, enterprise security, and lower cost

London, UK14 March 2023

Bank of Africa United Kingdom, a leading multinational bank specialising in African markets, has migrated its core banking systems to Oracle Cloud Infrastructure (OCI). Bank of Africa UK selected OCI for its superior performance, high availability, enterprise security, and lower cost. The implementation and migration was delivered by Oracle PartnerNetwork (OPN) member, Version 1.

With OCI, Bank of Africa UK is able to gain access to flexible, secure, and high-performance computing resources not previously available with its on-premises systems, including capabilities required to run advanced analytics on core banking applications. OCI is also able to deliver improved system performance across the bank’s mission-critical applications and services including trading, payments processing, and risk.

“Cloud technologies are now foundational to how we design and scale new products and services, innovate for our customers, and run our core banking operations. Our collaboration with Oracle is important in advancing our transformation program,” said Mohammed Anouar Kouhen, COO, Bank of Africa UK. “Our applications running on OCI benefit from a flexible platform that enables us to adapt and scale critical services at speed, and gives us significantly stronger performance, security controls, and cost efficiencies.”

OCI provides Bank of Africa UK with a strong foundation for digital innovation, allowing users to flexibly configure development and test environments to support service improvements and new product development. Run on OCI, Bank of Africa UK leverages Oracle Fusion Cloud Enterprise Resource Planning (ERP) to streamline its finance operations, automate processes and increase productivity and enhance financial decision making across the organisation. OCI will also provide the platform for the bank’s new core banking system Temenos Transact which is planned to go live in 2023.

Bank of Africa UK runs it core banking systems in the Oracle Cloud London Region, which is powered entirely by renewable energy, helping the bank reach its goal of reducing energy consumption across its core operations.

“Financial services organisations like Bank of Africa UK increasingly need to adopt new technologies and maintain speed of innovation to serve their customers, while also meeting their data security and locality requirements in a rapidly-evolving regulatory environment,” said Richard Smith, executive vice president, Technology, Oracle EMEA. “By leveraging OCI to run any application faster and more securely for less, Bank of Africa UK now has the foundation needed to effectively respond to changing market conditions and customer needs.”

Colm Gillard, Version 1, Oracle Practice Managing Director said “This was an important migration of business-critical systems for the Bank of Africa UK from the Paris DataCentre. We already provide managed services to the Bank of Africa UK and were pleased to have successfully implemented this migration for an important customer.”

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