Bank of London and The Middle East plc Goes Live on Oracle® FLEXCUBE
Private Banking
Bank of London and The Middle East plc to Use Private Banking Solution to
Help Provide Superior Service to High Net Worth Customers
Mumbai, India – May 13, 2009
News Facts
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Oracle Financial Services Software, a majority owned subsidiary of
Oracle, today announced that Bank of London and The Middle East plc
(BLME), the largest Islamic bank in the UK, has successfully implemented
Oracle® FLEXCUBE Private Banking in less than four months.
Oracle FLEXCUBE Private Banking will enable the bank to offer Sharia’a
compliant products and services as part of its wealth management
offerings. The solution is integrated with the bank’s existing Islamic
banking back office application for customer and account information,
along with services capability to interchange orders and transactions.
Oracle FLEXCUBE Private Banking’s underlying technical architecture
and use of open standards helps give the application the versatility to
address the requirements of both conventional and Islamic banking.
Bank of London and The Middle East plc is using the solution to get a 360degree view of their customer’s wealth. This enables customer profiling,
overall lifecycle management and will help the bank to deliver self-directed
and advisor-driven solutions to its customers.
Oracle FLEXCUBE Private Banking is allowing the bank to provide holistic
wealth management and to tailor and personalize wealth management
services to the specific risk profiles of its customers.
Oracle FLEXCUBE Private Banking’s flexible architecture will help enable
the bank to respond swiftly and nimbly to changing market conditions. The
solution’s agile, J2EE architecture provides robust security, high
performance, availability, scalability and easy extension for bank-specific
customizations.
Supporting Quotes
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“We are using Oracle FLEXCUBE Private Banking because it enables us
to provide innovative products and services to our customers in a cost
effective manner,” said William Purdy, Head of Information Technology,
Bank of London and The Middle East.
“Banks today need to deploy solutions that enable them to compete in a
diverse environment and serve a wide range of customer needs. We are
delighted to provide The Bank of London and The Middle East with the
Oracle FLEXCUBE Private Banking solution and are confident that it will
help support the bank’s efforts to enhance its offerings for its rapidly
expanding customer base,” said Kishore Kapoor, Head of Sales and CEO
Oracle Financial Services Software b.v.
Supporting Resources
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Oracle FLEXCUBE Private Banking
Oracle in Financial Services
About Bank of London and The Middle East plc
Bank of London and The Middle East plc (“BLME”) is a Sharia’a compliant bank
based in London, authorised and regulated by the FSA. BLME is founded and
managed by a quality team and brings together a combination of highly
experienced international financiers and leading experts in Islamic finance. It
provides business solutions, using innovative Sharia’a compliant investment and
financing products, whilst addressing all the financial needs of their customers.
BLME carries out its business with fairness, transparency and integrity, which are
the basic tenets of Islamic finance. For more information please visit
http://www.blme.com
About Oracle Financial Services Software Limited
Oracle Financial Services Software Limited (referred to as "Oracle Financial
Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned
subsidiary of Oracle. Oracle Corporation [NASDAQ: ORCL] is the world's largest
business software company. For more information, visit
www.oracle.com/financialservices.
Trademarks
Oracle is a registered trademark of Oracle Corporation and/or its affiliates.
FLEXCUBE, Daybreak, Mantas and Reveleus, are trademarks of Oracle
Financial Services Software and are registered in several countries. Other names
may be trademarks of their respective owners.
Contact Info
Louis Jude Selvadoray
Oracle Financial Services Software b.v.
+44.207.531.4400
jude.selvadoray@oracle.com
Kevin Ruane
Oracle
+1.650.506.6610
kevin.ruane@oracle.com