One of the top 5 banks in Tajikistan signs up Profinch for a unified UBS and FCDB implementation project.
Core Banking
The client is one of the oldest and premier banks in the Republic of Tajikistan offering a full range of financial products and services. The bank maintains an extensive customer base across individuals and corporates and is a marquee financial institution in the country.
Challenge Ahead
The client bank was looking at a strategic partner to help them with a multi-country implementation of Oracle FLEXCUBE Core Banking Solution (CBS) along with OBPay and OB API in a hybrid cloud (AWS+OCI) environment. Owing to the expertise of Oracle FLEXCUBE CBS along with OBPay and OB API in a hybrid cloud (AWS+OCI) environment, Profinch was signed up as the strategic partner.
Project Scope
The scope of the project was finalized as per below
- Go-live and post go-live support and handover
- Integration of Card Management System
- Migration of Core parameters, products and Interfaces set-up, delivery of all necessary scripts needed to execute the business data migration from legacy system, migration of all Interfaces from NAME to Flexcube Version 12.2, migration of reports to Oracle Business Intelligence Enterprise Edition (OBIEE)
- Additional Interfaces and Modules
- Implementation of Oracle FLEXCUBE Direct Banking
- Gateway implementation for external application integration
- ATM/POS implementation
- Implementation of Oracle FLEXCUBE – UBS
Highlights
The project saw completion within the mutually agreed timeline. Seamless handover and extensive user training ensured that the client team hit the ground running post implementation.
- Automation of all incoming Local and International Payment transactions.
- Ease of generating transaction wise MIS reports based on the Category and Purpose codes captured in Flexcube due to customizations done.
- Ease of obtaining customer details online while onboarding customers with the help of customizations done in Flexcube.
- Ease of fetching and processingdaily exchange rates maintenances in Flexcube with the help of customizations done in Flexcube.
- Ease of performing International and Local remittances to agencies with the help of customizations made in Oracle Flexcube.
- All external transactions in Flexcube captured on a real-time basis because of the integration with the Card Management System.
Conclusion
The implementation of Flexcube and concomitant integrations mark a significant foray into fintech for the client. The range of customizations done to meet specific client requirements have helped amplify the benefits of Flexcube as a robust CBS. It has led to streamlining and simplifying several processes, standardizing them and improving overall efficiencies.
