Oracle has announced the implementation of its Oracle Flexcube Universal Banking and Oracle Flexcube Direct Banking software across Mashreq banks in Qatar, UAE, Kuwait and Bahrain.

Mashreq Bank has replaced over 40 legacy systems with the Oracle Flexcube solution after selecting it in 2010.

Using the technology the bank can price various products and services with relationship pricing.

According to Oracle, Flexcube reduce processing time, and improve customers’ experiences at ATM’s and online.

Somnath Menon, EVP of operations and technology at Mashreq Bank, said: "As a fast growing bank, we required a platform that would enable us to accelerate time to market for new products, and improve the overall customer experience across all our markets."

Oracle FLEXCUBE is due to go-live in Egypt in the second half of 2013.

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