Ukraine-based Prominvestbank has selected Oracle Flexcube Universal Banking solution to standardize its business processes and centralize banking operations, as well as provide real-time access to accurate information across the board.

According to the Oracle, the Flexcube solution will allow the Prominvestbank to better serve its 116,000 corporate customers and three million customer accounts, across more than 600 physical outlets, and support competitive growth.

Oracle said that Flexcube solution will also establish a technical base for Prominvestbank plans to launch retail services.

Victor Bashkirov, chairman of Prominvestbank, said: “We want to grow and needed to standardize our processes and centralize our databases and applications. Now we can confidently plan for future expansion, knowing Oracle will proactively assist Prominvestbank’s growth, while allowing us to react swiftly whenever we need, with the help of local partners on the ground in Ukraine.”

Rajesh Hukku, chief strategy officer of financial services at Oracle, said: “With the bank’s plan for growth and expansion into retail services, we expect them to be able to take full advantage of recent investments made in Oracle Flexcube, and accelerate the rollout by working with our local partner JSC Sitronics, who will assist in the implementation across the country for Prominvestbank.”