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Ancoria Bank Selects Oracle FLEXCUBE as Banking Platform for Its Operations

Published on 27 January in Next Ventures

 

Ancoria Bank Selects Oracle FLEXCUBE as Banking Platform for Its Operations

New bank to deploy Oracle FLEXCUBE to service small to midsize enterprises and a segment of the retail sector

Redwood Shores, Calif. – January 27, 2015

News Summary

As the financial services landscape continues to transition, independent banks are exploring business opportunities around the globe. Newly established Ancoria Bank is launching in Cyprus, where it will focus on servicing small to midsize enterprises, as well as a segment of the retail sector. Ancoria has selected Oracle FLEXCUBE on Oracle technology, as the backbone of its core banking operations.

News Facts

Ancoria Bank has selected Oracle FLEXCUBE Universal Banking, Oracle FLEXCUBE Direct Banking, and Oracle FLEXCUBE Information Server to support its mission of becoming the most flexible bank in Cyprus with the ability to issue new products and services within a matter of days.
The Oracle FLEXCUBE solution will be installed on Oracle best-of-bread technology, consisting of Oracle Database, Oracle Enterprise Manager, Oracle Business Intelligence and Oracle WebLogic Server with Oracle SOA Suite.
Ancoria expects to commence operations in the second half of 2015 with two branches in the Cyprus cities of Nicosia and Limassol. Both of these branches will concentrate on commercial-banking products and services for small and midsize enterprises and the retail sector.
Oracle Gold Level Partner and established Ancoria partner, NewCYTech Business Solutions Ltd, will implement the Oracle FLEXCUBE solution together with all underlying Oracle technology, with the help of Oracle Consulting Services.

Supporting Quotes

“Ancoria is yet another example of the growing number of independent banks around the world that are trusting Oracle FLEXCUBE on Oracle technology to run their banking operations and transform their businesses,” said Chet Kamat, Senior Vice President, Banking, at Oracle.
“We see this as a great opportunity to deliver stable and flexible banking services to the market,” said John E. Loizou, chief executive officer for Ancoria Bank. “Oracle FLEXCUBE is a cutting-edge solution that will enable us to service our customers with new products and services at a rapid pace.”

Supporting Resources

Follow Oracle Financial Services on Twitter, Facebook, YouTube channel

About Oracle

Oracle engineers hardware and software to work together in the cloud and in your data center. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.

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Contact Info

Valerie Beaudett
Oracle
+1.650.400.7833
Valerie.beaudett@oracle.com

Oracle Press Office

CMG Team

Office: +44 (0) 844 875 1455

Email: OracleFinancial@cmgrp.com

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