National Bank of Cambodia Selects Oracle Flexcube as Banking Platform
The National Bank of Cambodia (NBC) has selected Oracle Flexcube as the banking platform for its operations. Oracle Flexcube will help automate NBC’s current processes for operations across deposits, loans, foreign exchange, money markets, securities, funds transfer and asset management.
As the regulator, NBC plays an important role in the design and implementation of the financial sector development programme for Cambodia. NBC’s implementation of a new, integrated core banking system is viewed as a critical component of the development programme and has the ongoing support of the Asian Development Bank.
The project includes two local partners, interFlex and Neeka. interFlex will provide NBC with environmental software and implementation services for the core banking implementation. Neeka, part of the Thakral group, will provide the hardware infrastructure and support services for the project.
“We see technology as a key enabler in the modernisation of our financial system and are taking steps to deploy a core banking system that provides a platform for effectively and efficiently managing growth,” said Thai Saphear, head of the Governor’s office, NBC. “In Oracle Flexcube, we have found a solution with the comprehensive functionality we require as a central bank. The overall solution offered an integrated technology set that we expect will enable a straightforward implementation and a platform that we can build on for future initiatives. We are also pleased to be able to use local partners, Interflex and Neeka, in combination with our strategic relationship with Oracle Financial Services Software.”