Oracle Fin Serv to provide banking solutions to National Bank of Cambodia and PRASAC

Oracle Financial Services Software, a subsidiary of the world’s largest business software entity Oracle Corporation, has announced that National Bank of Cambodia has selected Oracle FLEXUBE as the banking platform for its operations.

The software will help the bank to automate its current processes for operations across deposits, loans, foreign exchange, money markets, securities, fund transfer and asset management.

The project also includes two local partners viz interFlex Co and Neeka. infterFlex will provide environmental software & implementation services for core banking implementation to the bank while Neeka will provide hardware infrastructure and support services for the project.

In a separate development, PRASAC Microfinance Institution (PRASAC) has selected Oracle FLEXCUBE Universal Banking as its core banking solution.

Oracle FLEXCUBE is expected to help PRASAC view and manage its operations centrally.

The microfinance institution currently has 95 offices in 17 provinces and cities across Cambodia, with nearly 100,000 micro clients with $57 million worth of loans.