Bandhan Bank selects Oracle to modernise its Core Banking systems

By Gloria Mathias

Bandhan Bank has deployed Oracle’s FLEXCUBE and Oracle Banking Digital Experience and expanded its digital services through a strategic collaboration to bring new capabilities and serve the underserved segments of Indian society.

Leveraging Oracle FLEXCUBE and Oracle Banking Digital Experience, Bandhan Bank has modernised its operations in retail and wholesale banking areas and introduced new digital capabilities, implementing Oracle Payments, Retail Loan Originations, and services for retail internet and mobile banking to cater to millions of customers, particularly focusing on underserved segments within Indian society.

The rapid expansion prompted Bandhan Bank to work with Oracle, replacing legacy systems and manual processes with banking technology. The implementation of Oracle FLEXCUBE’s scalable and flexible platform, along with Oracle’s digital banking services, has enhanced operational efficiency and elevated customer experiences.

“Our rapid expansion required us to rethink the structure of our core banking operations,” said Ratan Kumar Kesh, Executive Director, and COO of Bandhan Bank. He further highlighted that “Transforming our core processes and migrating to digital offerings with Oracle technology will give a further boost to our growth and enable us to provide an enhanced customer experience through innovative financial solutions.”

With the implementation of Oracle’s mid-office loan workflow system, the process has gained enhanced autonomy. The system can independently originate loans or seamlessly resume processing from where the handheld left off, culminating in a more efficient and dependable origination and processing of microloans.

Compliance emerged as one of the vital driving forces for this transformation, with Oracle’s solution providing transparent data supported by documented business logic and a granular audit trail, ensuring comprehensive compliance across all aspects of core and digital banking. In addition to faster loan origination, Bandhan Bank can offer its customers a seamless omnichannel experience, whether transacting online, visiting a branch or banking unit, or being served by bank staff.

Looking ahead, Bandhan Bank is slated to unveil its credit card. It is likely to be launched in early FY 2024–25, with Oracle’s digital and core banking serving as the front-end platform and the back-end customer store.