Ajman Bank taps Oracle to modernise trade finance

By Vriti Gothi

Ajman Bank has partnered with Oracle to run its next-generation trade finance platform on Oracle Cloud Infrastructure (OCI), as part of a broader push to modernise its transaction banking capabilities and improve operational resilience.

Under the collaboration, the UAE-based Shariah-compliant lender will migrate its newly developed trade finance application to OCI. The move is expected to enhance the scalability and performance of the bank’s trade finance operations, allowing it to handle rising transaction volumes while maintaining security for mission-critical workloads.

Trade finance has emerged as a key area of digitisation for banks in the region, as institutions seek to reduce manual processes, improve turnaround times, and strengthen compliance amid growing cross-border trade. By shifting to a cloud-based platform, Ajman Bank aims to streamline workflows and reduce its reliance on on-premises infrastructure, supporting both efficiency and sustainability objectives.

“Our collaboration with Oracle marks a pivotal step in our journey toward a more intelligent and connected banking ecosystem,” said Ashish Madan, head of global transaction banking at Ajman Bank. “Adopting OCI would help the bank deliver more secure and efficient Shariah-compliant services while aligning with the UAE’s digital transformation and sustainability agenda.”

Beyond the core migration, Ajman Bank and Oracle plan to explore additional use cases across cloud, data management, and analytics. These initiatives are intended to strengthen regulatory compliance, accelerate product development, and improve operational decision-making within the bank’s trade finance business.

Miguel Vega, senior vice president for database platform and alliances and channels in the Middle East and Africa at Oracle, said, “OCI would provide the flexibility and security needed to support the bank’s digital growth. Our collaboration with Ajman Bank reflects our shared commitment to advancing secure, data-driven, and sustainable financial innovation in the region.”

The partnership, signed at GITEX Global, aligns with Ajman Vision 2030 and the UAE’s broader digital economy strategy, underscoring the increasing role of cloud infrastructure in the region’s banking and trade finance transformation.