JMR Infotech transforms Housing Finance Bank – a leading East African Bank and successfully implemented Oracle FLEXCUBE Universal Banking 14.5

August, 2024

JMR Infotech is proud to announce the successful implementation of Oracle FLEXCUBE Universal Banking 14.5, a strategic move to modernize and enhance its core banking operations at Housing Finance Bank. The project, executed in partnership with us and went live on June 14, 2024, marking a significant milestone in the bank’s digital transformation journey. 

The implementation of the project commenced in November 2022. The team overcame the challenges related to the instability of the Online Banking Operations (OBO) and finished pending work on several critical interfaces in a timely manner. The project went live seamlessly despite multiple technical challenges. 

The project was meticulously planned and executed by a dedicated team of 30 professionals, with an even split between onsite (15) and offshore (15) resources. The team’s expertise ensured that the Housing Finance Bank could smoothly transition to the new core banking system. 

Key project dimensions included the integration of Oracle FLEXCUBE Universal Banking Suite (FCUBS), Oracle Financial Services Analytical Applications (OFSAA) version 8.1.2.5, and several critical interfaces such as ATM, POS, ESB, Calypso, CBX, RBX, and Power Card. 

Project Highlights: 

  • Regulatory and Adhoc Reporting: The project successfully generated and deployed approximately 80 regulatory and FLEXCUBE adhoc reports, ensuring compliance and operational efficiency. 
  • Customizations: Around 15 customizations were deployed into production, tailoring the system to meet the specific needs of Housing Finance Bank. 
  • Enhanced Performance: The End of Day (EOD) process performance was significantly stabilized, with the overall runtime reduced to 2.5 hours, ensuring smoother daily operations. 
  • ATM Integration: The ATM go-live was seamlessly executed alongside the core banking system, with full functionality achieved from day one. 

The implementation of the FLEXCUBE Banking suite by JMR Infotech has empowered Housing Finance Bank to manage a wide portfolio of products across Retail Banking, Deposits, Lending, Payments, Corporate Banking, and micro verticals such as Islamic Banking, Microfinance, and Financial Inclusion. 

About Housing Finance Bank: Housing Finance Bank is a leading financial institution dedicated to providing innovative banking solutions to its customers. With a commitment to excellence, the bank continuously invests in technology to enhance its service offerings and meet the evolving needs of its clientele. 

About JMR Infotech: JMR Infotech is a global leader in end-to-end IT solutions, specializing in the banking and financial services industry. With a proven track record of successful implementations, JMR Infotech is committed to driving innovation and delivering value to its clients worldwide. 

For media inquiries, please contact:  

Devashruti Banerjee
Devashruti.banerjee@jmrinfotech.com
+919910014794 

About JMR Infotech

JMR Infotech (JMR) is a trusted technology product and services provider working with business leaders across the globe to build robust, agile and adaptive enterprises. Backed by an experienced management team, strategic alliances, 175+ satisfied customers, over 600 domain experts; JMR is the partner of choice for progressive organizations, which consistently delivers incremental value to their clientele. For more information, visit us at www.jmrinfotech.com

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