PSCB, 19 co-operative banks opt for FLEXCUBE

NEW DELHI, INDIA: Oracle and i-flex solutions today announced that Punjab State Co-operative Bank (PSCB) and 19 District Central Co-operative Banks will deploy FLEXCUBE.

FLEXCUBE, powered by Oracle Database and Oracle Real Application Clusters, will enhance the efficiency of Punjab State Co-operative Bank, which has 800 branches across Punjab. Flexcel International, a subsidiary of i-flex solutions, will deploy, host and manage the core banking solution.

PSCB has already built a data center to manage the 800 plus branch roll out.

The deployment has been completed in about 40 branches across 18 banks. The second phase of implementation across 200 branches will start shortly.

Deployment at the remaining branches will be completed as part of the third phase.

"We selected FLEXCUBE, Oracle Database and Oracle Financial Services OnDemand to enhance our efficiency by replacing manual processes, maintain the customer intimacy we have created over the years, and develop competitive differentiation because we expect the market to be increasingly demanding," said PS Sidhu, managing director, Punjab State Co-operative Bank.