Housing Finance Bank, Oracle, and JMR Infotech Partner to Accelerate Core Banking-led Digital Transformation for Enhanced Customer Experience

Date- 20-10-2022

Housing Finance Bank, a leading commercial bank headquartered in Kampala, Uganda will be deploying the Oracle Banking suite in partnership with JMR Infotech, to leverage next-generation banking technology for enhancing its digital core capabilities and delivering convenient service to its customers.

Leveraging JMR’s expertise in the Oracle banking suite and industry-leading Oracle FLEXCUBE technology, the Bank plans to accelerate its digital offerings, speed up the delivery of new customer solutions to the market, and enhance the overall service delivery.

“Speed of service is critical to us,” said Michael K Mugabi, Housing Finance Bank’s Managing Director.

“As a Bank with its eyes firmly planted on the future of customer service and innovation, Housing Finance Bank’s planned implementation of our flexible Oracle FLEXCUBE technology will put them in a position to pull ahead in a competitive Ugandan market,” said Mr. Upender Singh, Sales Director, Banking-Sub Saharan Africa, Oracle Financial Services Global Business Unit.

Jayafar Moidu, Founder & CEO of JMR Infotech said, “We are excited to embark on this strategic partnership with Housing Finance Bank to help accelerate the Bank’s core transformation. Our deep expertise in implementing Oracle Banking suite and Africa Banking project experience, we are strongly positioned to help the Bank achieve the full potential of its planned transformation.”

Housing Finance Bank will be implementing Oracle Banking Payments, Oracle FLEXCUBE, and Oracle Banking APIs from the Oracle Banking suite along with an Enterprise Service Bus Middleware. JMR InfoTech will be the prime integrator working with the Bank to implement the new platform including the migration of apps, offerings and customers from the current system.

With this transformation, Housing Finance Bank will be able to scale quickly and offer personalized services and also process transactions more judiciously.

Oracle Banking is a suite of financial services applications that enable banks to offer a complete set of digital banking services to customers.

The suite includes the digital core and applications for retail and corporate banking, real-time payments, and digital experience. Built on micro services architecture with 3000-plus open banking REST APIs, the suite makes it easy for innovators like Housing Finance Bank to “plug in” additional Oracle and third-party services when they need them. It also provides a scalable, cloud-native environment for growth.