IBS Journal March 2015
Oracle FSS to lose Flexcube core banking system user?
Bank of Bhutan, the largest commercial bank in the country, has finalised a request for expressions of interest (EOI) process to replace its core banking system, Oracle FSS’s Flexcube. Interested vendors were invited to respond by the end of February. Bank of Bhutan states in the EOI that it is embarking on ‘a major technology upgrade aimed at placing it on a high growth trajec- tory’, hence it is looking for new software across its head office and 29 branches. Flexcube has been in production at Bank of Bhutan for just over five years, with the bank selecting the system in 2008 for a universal implementation and going live a year later with version 7.3. In recent years, the bank has also modernised its sys- tems for internet and mobile banking, as well as introducing an integrated 24x7 call centre. It supports a network of 62 ATMs,
Thimphu, Bhutan ©Christopher Fynn, Commons Wikimedia
to the late 1960s. It performed commer- cial as well as regulatory functions until the Central Bank formation in 1982. The bank’s major product lines comprise basic loans and deposits, foreign exchange, trade finance (letters of bills, credits and guar- antees), agency services with commercial banks in India, as well as providing banking for the Bhutanese government. Oracle’s domestic user base will
underpinned by the Narada platform from India-based vendor Yalamanchili and is also involved in the bilateral domestic electron- ic cheque clearing services and NEFT fund transfers.
Bank of Bhutan’s history dates back
shrink by a third if the bank decides to replace Flexcube. The vendor claims Bhu- tan National Bank (a 2003 convert from the vendor’s legacy system, Microbank- er, which stemmed from I-flex) and T Bank (which went live with the system in 2013) as its other users here. Druk PNB Bank, another domestic commercial bank, is on the Infosys Finacle user list, having selected the system in 2009.
ibs news
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