Friday, 4 July 2008

Bank Danamon Completes Oracle's FLEXCUBE Implementation

i-flex solutions, a provider of IT solutions to the global financial services industry announced that PT Bank Danamon Indonesia Tbk (Danamon) has gone live on Oracle's FLEXCUBE, for its micro financing network known as Danamon Simpan Pinjam (DSP).

The implementation for the Bank's DSP network was one of the fastest transformation projects, with 700 branches successfully changing over to FLEXCUBE in a time period of just five months. Danamon's core banking transformation project is one of the largest core banking implementations in the ASEAN region.

According to Kanchan Nijasure, Chief Information Officer Danamon, the DSP business is strategic to Danamon's vision to enable millions to prosper. This segment needs solutions that are specifically designed for them delivered with the same speed, convenience, and completeness as conventional banking. "We are extremely pleased with the successful, record time conversion to FLEXCUBE," said Nijasure.

On the other hand, Joseph John, Executive Vice President, Banking Products Division, i-flex solutions said that with FLEXCUBE as the core banking platform for the DSP business, the customers of the bank can expect greater simplicity, speed, and innovation in banking services.