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Caribbean Development Bank Goes Live on Oracle(R) FLEXCUBE Universal Banking to Improve Operational Efficiency

REDWOOD SHORES, CA -- (Marketwire) -- 10/01/09 -- Oracle (NASDAQ: ORCL)

News Facts

  • Caribbean Development Bank, a multilateral development bank that is headquartered in Barbados and provides development loans and grants throughout the Caribbean region, has implemented Oracle® FLEXCUBE Universal Banking, Oracle Financial Services Software announced today.
  • Oracle FLEXCUBE Universal Banking is helping to meet Caribbean Development Bank's need for a best-in-class lending platform to more effectively and efficiently manage its business.
  • The bank is using Oracle FLEXCUBE Universal Banking to reduce manual processes and streamline its operations, enforce better control and reporting, and meet the needs of its customers with flexible product offerings.
  • Using the application, Caribbean Development Bank is in the process of restructuring its operations to significantly improve its business processes and achieve faster processing of its loans and grants.
  • Oracle FLEXCUBE Universal Banking is also helping the bank to capture the data needed to more effectively regulate the business.
  • As part of establishing a modern, state-of-the-art technology infrastructure, Caribbean Development Bank has also implemented the Oracle Database, Oracle SOA Suite and Oracle Business Intelligence Suite Enterprise Edition Plus (OBI EE Plus).

Supporting Quote

  • "Caribbean Development Bank is one of the well respected financial institutions in the region and we appreciate the opportunity to help them achieve significant process optimization and deliver meaningful value to the institution with Oracle FLEXCUBE Universal Banking," said George Thomas, Vice President, Customer Fulfillment - Americas, Oracle Financial Services Software.

Supporting Resources

Oracle Innovation Showcase

For more than 32 years, Oracle has been a technology innovator, transforming the way business is conducted. To learn about Oracle's latest technologies, visit the Innovation Showcase during the 100 days before Oracle OpenWorld. See oracle.com/innovation for more information.

About Caribbean Development Bank

Caribbean Development Bank (CDB) intends to be the leading catalyst for development resources into the Region, working in an efficient, responsive and collaborative manner with our Borrowing Member Countries and other development partners, towards the systematic reduction of poverty in their countries through social and economic development. For more information, visit http://www.caribank.org/.

About Oracle Financial Services Software Limited

Oracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. For more information, visit www.oracle.com/financialservices.

Trademarks

Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.

Contact Info:

Kevin Ruane
Oracle
+1.650.506.6610
Email Contact

Mary Tobin
O'Keeffe & Company
+1.503.658.7396
Email Contact

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