Chet Kamat, General Manager of Oracle Financial Service Software Ltd has recently come to Italy, accompanied by a delegation, to learn more about the progress of the Flexcube project for Italian banks. The first meeting was held in Empoli, where he met with the top management of Cabel, of which Banca Cambiano is a primary reference shareholder, sealing a partnership of extreme importance for all the players present.
Chet Kamat's appreciation for the positive progress of the works (there are as many as 10 Indian engineers seconded to Empoli by Oracle) was shared and underlined by Francesco Bosio, president of Cabel and by Stefano Tana, managing director of Cabel, who reported at the end of the meeting that the project has been validated and will be presented at the Oracle Convention to be held from October 1st in San Francisco. Furthermore, a convention has already been agreed in Florence with the Californian company in the coming months. A sign that the relationship established is one of full and shared trust.
“With Flexcube, underlines Bosio, Cabel enters the Italian panorama precisely when it is most needed. The profound changes in the banking system have a heavy impact on current platforms which risk becoming inadequate. Bank mergers and unifications can determine the mutual need to adapt to different information systems and the birth of a versatile and flexible product such as Flexcube offers a far-reaching perspective in this perspective”.
The times for the release of the product, precisely to meet the pressing needs of the Italian banking system, have even been brought forward: "the contract envisaged bringing a first bank to Flexcube by 2018 September 2018, but we think it can be brought forward to April- May XNUMX”, underlined Stefano Tana.
The institute that will test the new platform in Italy for the first time is Invest Banca, the institute of the Cabel galaxy specialized in private banking and asset management: but already some Italian credit institutes, explain Tana and Bosio, have expressed interest in Flexcube, already used widely internationally. “In the Anglo-Saxon world, adds Tana, 570 banks use it, probably among which the main ones in the world”.
Speed and, of course, flexibility are the hallmarks of Flexcube. “It is an easily implementable and extremely innovative product, concludes Tana: “All the information systems that now support the Italian banking systems are by now dated and date back to the end of the 80s and the regulatory evolution imposes innovative updates which, layering themselves, slow down the processes . The engineering of Flexcube makes it possible both to structure changes in the law and to anchor front services that are always up-to-date with respect to market needs. Furthermore, with its modular architecture, it fits perfectly with the modularity of the Cabel platform".
In addition to the development of Flexcube for the back office part, Cabel is also renewing its applications for the front part, including applications aimed at the end user which will allow the customer, but above all the financial advisor, to be able to operate in complete safety thanks to much more complete information.
