Askari Bank to use Oracle software to modernize its operations

Askari Bank of Pakistan has selected Oracle software to modernise its banking operations, provide world-class service to its customers and compete better with local and international banks operating in Pakistan. Askari Bank has selected Oracle Applications for the banking industry including Oracle’s FLEXCUBE Universal Banking Solution, Reveleus Basel II Solution, FLEXCUBE Islamic Banking and Siebel Customer Relationship Management (CRM). Techlogix, an Oracle Partner, will implement the software over a period of 18 months.

Oracle Applications will help Askari Bank become compliant with Pakistan State Bank regulations and with important international risk management standards such as those specified in Basel II guidelines. Oracle’s Siebel CRM software will help Askari Bank manage end-to-end relationships with its customers.

“With increasing competition in the Pakistani banking industry, we have to make our operations more efficient and compliant with the global banking industry best practices”, said President of Askari Bank Ltd., M. R. Mehkari.

“We believe our choice of the best banking industry software from Oracle and Techlogix, the local implementation experts, will help us roll out this complex IT project and will eventually streamline our operations and help us stay profitable.”

“Banking is a strategic industry for Oracle with 17 of the top 20 banks globally already running Oracle Applications”, said Oracle’s Regional Director for SAGE-West, Samina Rizwan. “Oracle has been delivering demonstrable value to its customers in banking industry for decades.

Our software will serve the unique needs of Askari Bank such as performance analysis, activity based management, financial data management, risk management, budgeting and planning to help them in effective resource management”.

“We look forward to partnership with Askari Bank to realize its strategic vision as it migrates towards a best in class application and technology platform”, said Salman Akhtar, Co-CEO of Techlogix. “We believe the solution rollout at Askari Bank will set the benchmark for the banking industry in Pakistan “.

Source: www.app.com.pk

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