International Bank of Azerbaijan Goes Live on New Core Banking Platform
The International Bank of Azerbaijan (IBA) has gone live with Oracle Flexcube Universal Banking System as its core banking platform. As a leading financial institution in Azerbaijan, IBA represents an important element in the development of the national banking industry and the national economy, as well as the integration of Azerbaijan into the world economy.
IBA replaced its former banking system – Midas from Misys – with Oracle Flexcube because it offered a functionally rich, comprehensive and integrated solution for universal banking. IBA is using Oracle Flexcube to help achieve a single view of its customers across all the products and services used within the institution.
“Being a large bank in Azerbaijan, our interest is in the welfare of the general public and our esteemed shareholders,” said Emil Mustafayev, first deputy chairman of IBA. “In order to serve them in the best possible way, a high-end solution is the answer and for this reason we are using Oracle Flexcube to serve our customers and also obtain a competitive edge. About 700,000 of our customers have already benefited from improved customer service and we are confident this association will continue to be an enduring and beneficial one.”