Togo-headquartered Ecobank Transnational (Ecobank) has updated
its core banking software and implemented new solutions from Oracle
with the aim of standardising its processing platform across its
affiliates in 30 sub-Saharan African countries.
Ecobank has implemented Oracle’s FLEXCUBE
Universal Banking and Direct Banking platforms, as well as Oracle’s
risk analytics solutions.
The Ecobank tie up is Oracle FLEXCUBE’s
largest multi-country implementation in Africa to date enabling the
lender to serve over 7m customers via more than 1,100 bank
The Oracle FLEXCUBE suite of analytical
applications also aims to enable a successful multi-jurisdictional
compliance between Ecobank and the Central Bank requirements.
CEO of Ecobank Transnational, Arnold Ekpe,
said, “By deploying Oracle FLEXCUBE, we have aligned our network to
provide superior service and a consistent experience for our
customers across the African Continent.”
By November 2011, Ecobank had rolled out
Oracle FLEXCUBE across an additional 26 countries, replacing older
banking applications and legacy systems.
The first phase of the project involved the
migration of Ecobank’s affiliates in Nigeria, Ghana, Benin and Togo
to the Oracle FLEXCUBE platform, including standardising the
business and change management processes and corresponding roll-out
methodology, as well as creating a central help desk to facilitate
CEO and managing director of Oracle, Chet
Kamat, said, it is a matter of “pride” for Oracle to “support
Ecobank’s vision to be the bank for Africa”.
Ecobank is the fourth largest lender in Africa
by total revenue and is present in more countries in Africa than
any other bank in the world. The Ecobank Group has over 24,200