National Bank of Cambodia Goes Live on Oracle(R) FLEXCUBE Universal Banking
National Bank of Cambodia Goes Live on Oracle(R) FLEXCUBE Universal BankingOracle FLEXCUBE helps support evolution of country’s financial system
News Facts
the central bank in charge of implementing the Kingdom of Cambodia’s monetary policies, has gone live with
as its core banking platform. The Central Bank had signed an agreement to implement Oracle FLEXCUBE in February 2009.
As the national banking regulator, the National Bank of Cambodia plays an important role in the design and implementation of the financial sector development program for the Kingdom of Cambodia.
National Bank of Cambodia’s implementation of a new, integrated core banking system is a critical component of the development program and has the ongoing support of the Asian Development Bank.
Oracle FLEXCUBE will help automate the National Bank of Cambodia’s business processes, including deposits, loans, foreign exchange, money markets, securities, funds transfer and asset management.
National Bank of Cambodia will also take advantage of Oracle FLEXCUBE’s proven transaction-processing capabilities and process framework to help standardize operations and incorporate industry best practices across its operations.
Oracle partner, interflex co Ltd, provided the environmental software and implementation services for the core banking platform. Oracle partner Neeka Ltd, part of India’s Thakral Group of companies, provided hardware infrastructure and support services.Supporting Quotes
“We see technology as a key enabler in the modernization of our financial system. The deployment of a modern core banking system platform to help us effectively and efficiently manage growth is an important step toward this goal,” said Thai Saphear, head of the governor’s office, National Bank of Cambodia. “Oracle FLEXCUBE’s comprehensive functionality and integrated technology set has provided us a platform that we can build on for future initiatives.”
“The National Bank of Cambodia’s roll-out of Oracle FLEXCUBE Universal Banking can help boost the country’s efforts to modernize its banking industry,” said Joseph John, Executive Vice President, Banking Products, Oracle Financial Software Limited. “Oracle's experience in supporting more than 400 banks in more than 125 countries means that we and our partners can help the National Bank of Cambodia
adjust to dynamic customer expectations, adapt to demanding regulatory requirements, enable competitive differentiation, and manage cost-to-income ratios to prepare for growth and expansion.”
Supporting Resources
About National Bank of CambodiaThe National Bank of Cambodia’s (NBC) vision is to support the economic development of Cambodia by creating and sustaining a financial system that incorporates global models of regulation, risk and supervision. For more information visit About Oracle Financial Services Software LimitedOracle Financial Services Software Limited (referred to as &Oracle Financial Services Software&) (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. Oracle Corporation [NASDAQ: ORCL] is the world's largest business software company. For more information, visit .About OracleOracle is the world's most complete, open, and integrated business software and hardware Systems Company. For more information about Oracle, please visit .TrademarksOracle and Java are a registered trademarks of Oracle Corporation and/or its affiliates. FLEXCUBE, Daybreak, Mantas and Reveleus, are trademarks of Oracle Financial Services Software and are registered in several countries. Other names may be trademarks of their respective owners.Contact Info
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National Bank of Cambodia grants license to Malaysia’s Hong Leong Bank
Published 05 July 2013
National Bank of Cambodia (NBC) has issued a banking license to the Cambodian subsidiary of Malaysia-based Hong Leong Bank, which will enable it to launch operations in the country.
Following approval from the apex bank, Hong Leong Bank Cambodia (HLBC) with a capital of MYR119.25m ($37.4m) will begin its operation from 8 July this year, as confirmed by the bank to the country's stock exchange.
On 18 February 2013, the Cambodian Ministry of Commerce granted a certificate of incorporation for the establishment of HLBC.
In a statement, the bank said, &With the establishment of a bank in Cambodia, HLB would contribute to the banking sector as well as the broader economy of Cambodia.&
The Cambodian venture will be its second overseas operation, as the lender first forayed in Vietnam at the end of 2008, by incorporating a subsidiary in the country.
The bank also has a minority stake in China-based Bank of Chengdu, and manages wealth management and global markets services in Singapore and Hong Kong.
Today, Hong Leong Bank has more than 300 Branches, sales and business centers in Malaysia, Singapore, Hong Kong and Vietnam.
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