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New Delhi
May 20, 2008
Punjab State Co-operative Bank (PSCB) and 19 district central co-operative
banks have selected Oracle and Flexcel International as their IT partners to
deploy Flexcube in the Indian co-operative banking sector.
Flexcube, powered by Oracle Database and Oracle Real Application Clusters,
will enhance the efficiency with which PSCB can deploy people, processes and
products in 800 bank branches spread across Punjab. “We are pleased that
Oracle Database and Oracle real application clusters will help PSCB build a
robust operating environment around Flexcube to enable 24x7 services to its
customers,” said Anup Varma, Regional Sales Director-Technology Commercial
Sales, Oracle India.
“We selected Flexcube, Oracle Database and Oracle Financial Services
OnDemand to enhance our efficiency by replacing manual processes, maintain the
customer intimacy we have created over the years, and develop competitive
differentiation, because we expect the market to be increasingly demanding,”
noted PS Sidhu, MD, Punjab State Co-operative Bank.
Flexcel International offers Oracle Financial Services OnDemand. It will
deploy, host and manage the core banking solution, which will integrate with all
institutional delivery channels and enterprise-wide systems. “We are confident
that the benefits to PSCB and its members from this implementation could be
substantial, in terms of savings in cost, effort and time to service the
customers,” said Venkata Subramanian, CEO, Flexcel International.
The bank has already built a data center that manages 800 plus branch roll
out. Deployment of the solution in about 40 plus branches across 16 banks has
been completed. The second phase of the solution implementation across 200
branches will commence shortly. The roll out across the remaining branches will
be completed as part of the third phase.
With the deployment of Flexcube and Oracle real application clusters, PSCB
will be able to enhance the efficiency of its transaction processing and provide
on-line banking to accounts from any of the 800 bank branches in the network. It
will also enable standardization of products and services to customers. Page(s) 1
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