Oracle, Ecobank partner on service

COMPUTING

Oracle – a global supplier of both software and hardware applications - has entered a deal with Ecobank – a leading pan-African bank - to provide newer technology services for its customers in Africa.

The deal aims to enhance Ecobank’s customer service experience in 30 Sub-Saharan countries.

The three solutions to be deployed - include Oracle FLEXCUBE Universal Banking and Oracle FLEXCUBE Direct Banking solutions, as well as Oracle Financial Services Risk Analytics which will standardize the bank’s processing platform for its customers – enabling Ecobank to service more than 7 million customers via more than 1,100 bank branches. It represents Oracle FLEXCUBE’s largest multi-country implementation in Africa to date.

Arnold Ekpe, CEO, Ecobank Transnational Incorporated said: “Ecobank is committed to service excellence and efficiency through the use of best-in-class technology. By deploying Oracle FLEXCUBE, we have aligned our network to provide superior service and a consistent experience for our customers across the African Continent."

Chet Kamat, CEO and Managing Director, Oracle Financial Services Software said: “It’s been a great journey with significant rewards for both Ecobank and Oracle. We pride ourselves on being able to support Ecobank’s vision to be the bank for Africa.”

Since 2006, as part of its business strategy, Ecobank has developed an extensive footprint across Africa. Due to several acquisitions, there was a clear business need to standardize operations across the region with a banking platform that was highly scalable, easy to configure and capable of multi-currency and multi-lingual banking applications.  

Oracle FLEXCUBE has a strong track record of successful multi-country standardization projects, including the ability to centralize operations, which made it a compelling choice for Ecobank.  

The first phase of the project involved the migration of Ecobank’s affiliates in Nigeria, Ghana, Benin and Togo to Oracle FLEXCUBE. Oracle worked with Ecobank to standardize the business and change management processes and the corresponding roll-out methodology. Oracle also created a central help desk function to facilitate a smooth migration.

The Oracle FLEXCUBE suite of analytical applications has allowed Ecobank to ensure multi-jurisdictional compliance with Central Bank requirements.

Ecobank says the suite has streamlined the customer experience across its network, improved customer service with new offerings, including self-service, and facilitated cross-border transactions for its retail and wholesale banking customers.

Oracle FLEXCUBE Direct Banking enables Ecobank’s customers to conduct transactions and access information online. Through the use of multiple channels, Ecobank is also gaining greater customer insights.