Exclusive: Bushra Business Bank selects Profinch Solutions as a strategic partner

By Pavithra R

Profinch Solutions has been selected as a strategic partner by Bushra Business Bank, a leading commercial bank offering Conventional and Islamic banking services in Somalia with Sharia guidelines and banking regulations, for licensing and implementing Oracle Financial Services Suite of products and hardware services.

Bushra Business Bank was keen on embarking on a technology transformation journey with a focus on meeting the demands of its growing customer base. With a vision to provide world-class financial services, the bank realized the need to make strategic technology investments to accelerate the bank’s growth and further strengthen its position in the market.

Speaking of the collaboration, Amrit Biswas, Head of Business – MEACIS, Profinch told IBS intelligence “It’s a pleasure to have Profinch associated with the likes of Bushra Business Bank. Bushra has quickly emerged to be a leading bank in the Somali landscape, and that is a promising backdrop for us to work in. We are looking forward to a long-lasting relationship with the bank and are confident of delivering their immediate and long-term strategic technology objectives.”

The discussions commenced with the exploration of Core and Digital initiatives with Oracle, in which Profinch led the conversations. The Bank evaluated multiple Core Banking products from competing vendors and decided to onboard Profinch Solutions as its strategic partner.

Under the partnership, Profinch Solutions will assist the bank in the licensing and implementation services of Oracle FLEXCUBE Universal Banking, Oracle Banking Digital Experience (OBDX), Oracle Technology Software, Oracle Cloud Infrastructure (OCI). The firm will also manage hardware provisioning, commissioning, installation & implementation services.

“We are excited about this strategic collaboration. Profinch comes with a proven experience of seamless and efficient implementations on stringent deadlines, with global and greenfield banks alike. Profinch’s success in the African territories is a testimony in itself, and we are looking forward to a long-lasting symbiotic association with them,” said Mr Suleiman Dualeh, CEO, Bushra Business Bank.

Profinch is a technology company offering solutions that enable financial institutions to transform how they work and be future-ready. The solutions include Consulting services for advancement of core operations and processes, and off the shelf products for 360-degree digitization and data transformation. With offices in India, UAE and Singapore, the company serves over 95 financial institutions across 40+ countries.