Advanced Bank of Asia, Cambodia Goes Live on Oracle FLEXCUBE Universal Banking

Mumbai, India - February 24, 2009: Oracle Financial Services Software Ltd. today announced that Advanced Bank of Asia (ABA), Cambodia has gone live on Oracle® FLEXCUBE Universal Banking. Oracle FLEXCUBE is providing the bank with a next-generation transaction-processing platform, enabling faster responses to customer needs and improving operational and cost efficiencies. Completed in six months, the project at ABA is the first Oracle FLEXCUBE implementation in Cambodia. ABA has implemented Oracle FLEXCUBE across its corporate and retail banking operations. ABA selected Oracle FLEXCUBE Universal Banking for its ability to seamlessly adapt to local requirements. Oracle FLEXCUBE is providing ABA with a flexible, scalable banking platform, enabling it to offer new products and services, served across multiple channels including ATM and Internet, in the shortest possible timeframe. "The Cambodian banking industry is going through a transformation, and we are happy to note that our decision to implement Oracle FLEXCUBE and its successful, on-time implementation has given us a real competitive advantage. With the successful implementation of Oracle FLEXCUBE, we will now be able to bring new products to the market and rapidly scale to address the growing demand for banking services in Cambodia," said Elona Romanova, an official for Advanced Bank of Asia. The stock was trading at Rs.685, up by Rs.12.10 or 1.80%. The stock hit an intraday high of Rs.694.75 and low of Rs.647. The total traded quantity was 45667 compared to 2 week average of 65810.

Source: Equity Bulls

Posted On: 2/23/2009 11:49:17 PM