Bank Technique OJSC, the third largest bank in Azerbaijan by assets, has chosen to replace it’s Temenos T24 core banking software with Oracle Flexcube.
Bank Technique, which was previously know as Technika Bank OJSC, will use Oracle Flexcube direct banking to give its customers mobile access to all of it’s products.
Ulvi Mansurov, CEO and chairman of the board at Bank Technique, said: "From my previous experience, there was no question that Oracle was the right company to provide Bank Technique with a stable, streamlined core banking solution that would require minimal manual intervention.
"When I started at Bank Technique data was scattered across different systems and was of little use to the bank for making quick decisions, offering innovative new products, or for providing our corporate and retail customers with an excellent service when and where they needed it."
Chet Kamat, MD and CEO of Oracle Financial Services Software, said: "Oracle has over the years established a strong track record in delivering successful outcomes for banks looking to take a quantum leap in their business by leveraging technology.
"We are very proud to have been brought into Bank Technique to help it overcome its challenges and fulfil the vision of its management team."
Bank Technique signed the initial contract with Oracle in July 2012.