Invest Banca has become the first Italian bank to implement Oracle Flexcube, helping it keep pace with banking regulations.
Cabel, an IT service provider for the financial services market in Italy, and Oracle Financial Services Global Business Unit have announced the availability today of Oracle Flexcube for the Italian market. The core banking solution has now been adopted by more than 600 financial institutions around the world.
Since 2016, Cabel and Oracle have collaborated to localise the Oracle FLEXCUBE solution to improve the process of marketing new products and services to the Italian market. In recent months, the Oracle FLEXCUBE solution has been adapted to the regulations governing the Italian banking market and is now fully able to support the typical activity of the Italian banking system.”The attitude of the banking system towards innovation is changing and at the same time there is a growing interest in the world of FinTech,” said Stefano Sardelli, managing director of Invest Banca.”
“Invest Banca, thanks to the Oracle Flexcube solution, has taken a decisive step forward. We went live with this Open Banking Platform May 7th and Oracle Flexcube now allows us to easily and efficiently integrate with a series of specialised solutions already in use by our retail and institutional clients, but moreover, it allows us to keep apace with ever more demanding banking regulations, such as MiFID, PSD2 and GDPR.”
The solution also facilitates the bank’s interaction and experimentation with the latest technology advances such as Robo-Advisor, artificial intelligence, data science, social trading and blockchain.
Cabel implemented the Italian version of Oracle Flexcube making it possible to integrate in an already live and running banking system covering other banking operations.
“This is a radically innovative solution, because it is a technology that facilitates the creation of lean products and services that are independent and based on completely different and more modern logic than traditional core banking systems in Italy,” added Francesco Bosio, president of Cabel.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
