National Bank of Cambodia to implement Oracle Flexcube

National Bank of Cambodia is to implement Oracle's Flexcube core banking package as it bids to modernise the country's antiquated financial system.

The central bank will use the system to automate operations across deposits, loans, foreign exchange, money markets, securities, funds transfer and asset management.

Thai Saphear, head of the governor's office, National Bank of Cambodia, says: "We see technology as a key enabler in the modernisation of our financial system and are taking steps to deploy a core banking system that provides a platform for effectively and efficiently managing growth."

Supported by the Asian Development Bank, the implemenation project will be led by Oracle in association with local companies interFlex and Neeka.

InterFlex will provide National Bank of Cambodia with environmental software and implementation services for the core banking implementation. Neeka, part of the Thakral Group of Companies, will provide the hardware infrastructure and support services for the project.

Source: http://www.finextra.com

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