Askari Bank Limited Pakistan Selects Oracle to Enable its Banking
Transformation Project
Oracle software and expertise will help Askari Bank modernize its entire IT
Architecture and deliver a wide range of business, service and efficiency benefits,
including compliance with Pakistan state bank regulations
Karachi, Pakistan - October 22, 2009
News Facts
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Askari Bank Limited, one of the fastest growing domestic banks in
Pakistan, has chosen to implement a wide range of Oracle Solutions such
as Oracle Database, Oracle Fusion Middleware and Oracle Applications
including Oracle FLEXCUBE (core banking system), Oracle Reveleus (risk
management system) across its entire business, replacing legacy
technology as part of its “Banking Transformation Project.” The project
aims to modernize its IT architecture to improve banking operations,
business efficiency and customer service. Oracle is Askari Bank’s key
business partner in this significant effort.
On the database side, Oracle Database Options like Oracle Database
Vault, Advanced Security, Data Masking and Audit Vault will provide data
Security to address auditing & compliance guidelines.
On the middleware layer, Oracle Fusion Middleware products like Oracle
SOA Suite and Oracle Application Adapter will enable Askari Bank to
seamlessly integrate all its business applications. It will also assist the
bank to reduce the time taken to introduce new schemes or products and
reduce cost of manual integration within various business functions.
Oracle FLEXCUBE’s core banking system’s flexible process configuration
capabilities allow Askari Bank to configure business processes to suit their
needs. Its flexible open standards based architecture coupled with
extensive functionality lends agility to bank’s operations and enables them
to standardize, consolidate, manage risks and compete in challenging
market conditions.
Oracle Reveleus will provide Askari Bank with the industry's most
comprehensive enterprise risk management capability enabling the bank
to comply with Pakistan State Bank regulations and those specified in
Basel II guidelines.
Other business applications to be implemented by Askari Bank include
Oracle Siebel Customer Relationship Management, PeopleSoft HRMS (for
human capital management) as well as Oracle E-Business Suite
Financials.
Askari Bank will also implement Oracle Maximum Availability Architecture
(MAA), Oracle's best-practices blueprint based on proven Oracle high
availability technologies and recommendations to maximize systems
availability and meet demanding Service Level Agreements for system
availability, quality of service, and data protection. Oracle MAA will enable
Askari Bank to run all its banking applications on an overall IT architecture
that offers optimum availability at the lowest cost. It will enable Askari
bank to optimize ROI and ensure unlimited scalability of its mission critical
applications as business demands grow.
Supporting Quotes
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“We evaluated many technology solutions available in the market but
Oracle is the only technology solution provider that offered a complete,
highly available and secure solution for our stringent business
requirements,” said Javed Iqbal, CIO of Askari Bank. “We are confident
that Oracle solutions will ensure continuous availability of banking services
and business continuity while ensuring data security and regulatory
compliance.”
“Oracle has been serving financial corporations for decades. Banks
around the world rely on Oracle to help them streamline business
processes and improve cost efficiency ratios to provide greater value to
customers,” said Natasak Rodjanapiches, Regional Managing DirectorOracle ASEAN “We are pleased that Oracle is able to help Askari Bank
build a highly available, scalable and secure operating environment to
enable 24x7 services to its customers”.
”Oracle’s comprehensive scalability & manageability features will help
Askari Bank safeguard its infrastructural investment in coming years,” said
Farhan Ibrahim Chaudhry, General Manager Sales (Technology
Business), Oracle Corporation, Pakistan and SAGE (W). “It will also help
Askari Bank to optimize its IT resources to its fullest, enabling Askari Bank
to significantly reduce total cost of ownership and increase return on
investment”.
Supporting Resources
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Video interview with Javed Iqbal, CIO, Askari Bank
About Oracle
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Contact Info
Jeanette Tan
Oracle Asia Pacific and Japan
+65.6436.1257
jeanette.tan@oracle.com
Noman Lakhani
Oracle SAGE West
92.300.201.2780
noman.lakhani@oracle.com