Bank Muamalat, Indonesia, Replaces Core with Oracle Flexcube
Bank Muamalat, an Islamic Bank in Indonesia, has selected Oracle Flexcube Universal Banking to streamline its core business processes ensuring productivity and agile business practice for Shariah banking. The bank chose Flexcube because of its proven success in adapting to meet regional banking demands and supporting Islamic banking business models.
The new system will allow the bank to provide innovative products to its customers and meet the growing market demands, and use enhanced customer insight and simulations to deliver excellent customer service. By using the scalable service oriented architecture (SOA), Bank Muamalat plans to expand its business significantly and manage future growth in a competitive environment.
Arviyan Arifin, president director, Bank Muamalat, Indonesia, said: “Bank Muamalat always strives to be the leader in the Indonesian Shariah banking landscape by expanding our business and our portfolio to meet the demands of our customers in the country. We plan to triple our portfolio in five years time by offering a wide range of Shariah products and expanding channels quickly. With a comprehensive customer view, we will be able to improve customer satisfactions by providing a consistent and reliable turnaround of transactions and excellent customer service level. We selected Oracle because of its excellent reputation in delivering to regional banking demands including Islamic banking. Oracle provides us with a scalable platform that will allow us to grow in the future and expand our services further.”