Invest Banca, the first Italian bank to adopt FLEXCUBE
Speed, security and measurability of operations and transactions; these are the main features of Oracle FLEXCUBE, the digitally native core banking platform already adopted by over 600 financial institutions all over the world, and now available in Italy too, thanks to Cabel, who, in partnership with Oracle, adapted it for the Italian market. The platform has undergone the necessary adjustments to make it fully compliant with the regulations that govern the Italian banking market and is already up and running at Invest Banca, the first bank in Italy to embrace the solution.
According to Stefano Sardelli, General Manager of Invest Banca: “The banking system’s attitude towards innovation is changing while interest in the Fintech sector is growing. Invest Banca, thanks to the Oracle FLEXCUBE solution, has taken a decisive step forward. Since May 7, we have been operating through this Open Banking platform, and Oracle FLEXCUBE now allows us to easily and efficiently integrate thanks to a range of specific solutions already adopted by our retail and institutional customers. Moreover, besides enhancing our operating performance, it enables us to stay abreast of evolving banking regulations such as Mifid, PSD2 and GDPR. The Oracle FLEXCUBE solution facilitates interaction with the latest technological innovations, such as Robo-Advisor, Artificial Intelligence, Data Science, Social Trading, Blockchain, and the like”.
Cabel implemented the Italian version of Oracle FLEXCUBE by integrating it into a complete banking information system, which includes all areas of banking operations and can be used in outsourcing or on premise. “This solution is innovative from a radical point of view, as it enables the creation of products and services using a streamlined technology, independently of the banking system clichés”, says Francesco Bosio, President of Cabel Holding SpA.
“Oracle’s strategy sees the involvement of major local partners that add specific expertise at the local level to our best global solutions”, adds Chet Kamat, Senior Vice President, of Oracle Banking and Financial Services. “Cabel has always been innovation-oriented and we have chosen to work with this company knowing we will be able to fully exploit our modern and flexible technology to respond to the changes imposed by the digital age. As a result, Italian banks will be able to achieve a significant improvement in terms of productivity and market offer while providing bank customers with an excellent customer experience”.
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