Oracle Financial Services Software Limited announced that Bank Technique OJSC has selected Oracle FLEXCUBE to replace a Temenos T24 core banking platform implementation. Bank Technique has selected Oracle FLEXCUBE Universal Banking to help ensure a stable core banking solution is in place, allowing it to focus on its core objective of growth. Bank Technique has also chosen Oracle FLEXCUBE Direct Banking to provide its 150,000 Corporate and Retail customers the first opportunity in Azerbaijani banking for mobile access to every product, as well as a 360 degree view across all banking channels for a better customer experience.

In addition to signing up for a new, robust, scalable and centralised core banking solution, Bank Technique has selected Oracle Financial Services Data Foundation to consolidate data scattered across multiple disparate systems. To better manage their data and measure risk. Bank Technique is adopting Oracle Financial Services Analytical Applications Infrastructure to enable insights to be quickly turned into products that will meet the changing demands of a growing multichannel banking market. With a view to increasing market share through innovative new offerings and faster response times.

Bank Technique signed the initial contract with Oracle in July 2012. The first phase of the Oracle FLEXCUBE implementation is underway, and is due to be followed by the planned roll-out of Oracle Financial Services Data Foundation and Analytical Applications. The implementation is being managed by Oracle PartnerNetwork (OPN) Specialized Platinum level member EGAR Technology.