Housing Finance Bank, Oracle, JMR Partner to Accelerate Core Banking Led Digital Transformation and Deliver Stellar Customer Experience
Housing Finance Bank, a fully-fledged commercial bank in Uganda will deploy the Oracle Banking suite, leveraging next-generation banking technology to enhance digital core capabilities and deliver convenient service to customers.
Drawing on JMR’s expertise in the Oracle banking suite and industry-leading Oracle FLEXCUBE technology, the Bank plans to accelerate digital initiatives, deliver new customer solutions to the market faster, and achieve an overall improvement in service delivery.
“Speed of service is critical to us,” said Michael K Mugabi, Housing Finance Bank’s Managing Director.
“The Oracle Banking suite with its micro services, API-ready platform, and short implementation time, fit perfectly into our technology road map and growth strategy. This new platform integrated with multiple existing systems will offer a full stack of banking capabilities that will help Housing Finance Bank enhance the Customer experience, drive performance improvement, and grow the Bank’s overall Business.”
Housing Finance Bank will be implementing Oracle Banking Payments, Oracle FLEXCUBE, and Oracle Banking APIs from the Oracle Banking suite along with an Enterprise Service Bus Middleware. JMR InfoTech will be the prime integrator working with the Bank to implement the new platform including the migration of apps, offerings and customers from the current system.
With this transformation, Housing Finance Bank will be able to scale quickly and offer personalized services and also process transactions more judiciously.
Oracle Banking is a suite of financial services applications that enable banks to offer a complete set of digital banking services to customers.
The suite includes the digital core and applications for retail and corporate banking, real-time payments, and digital experience. Built on micro services architecture with 3000-plus open banking REST APIs, the suite makes it easy for innovators like Housing Finance Bank to “plug in” additional Oracle and third-party services when they need them. It also provides a scalable, cloud-native environment for growth.
“With its eyes firmly planted on the future of customer service and innovation, Housing Finance Bank’s planned implementation of our Oracle FLEXCUBE technology will put them in a position to pull ahead in the competitive Ugandan market,” said Jason Maingi, Banking Sales Director, Oracle Financial Services.
“Big congratulations to the team, I am sure that together we will be able to put justice to the selection and work closely with the project teams to ensure we deliver on time as well as see significant improvements.”- Amitava Sanyal, Vice President – Head Middle-East & Africa JMR Infotech
Housing Finance Bank focuses on making banking easy and enabling customers to be in control of their financial and banking needs.
First incorporated as a private limited company in 1967 as Housing Finance Company Uganda Limited, carrying out business as a non-banking credit institution, providing mortgage finance and accepting savings deposits from the public.
Subsequently, the Bank became licensed and regulated by the Bank of Uganda as a Commercial Bank in 2007 to carry on the business of banking under the Financial Institutions Act and changed into a public limited liability company known as Housing Finance Bank Limited.
Oracle Financial Services provides solutions for retail banking, corporate banking, payments, asset management, life insurance, annuities, and healthcare payers. With their comprehensive set of integrated digital and data platforms, banks and insurers are empowered to deliver next-generation financial services. They enable customer-centric transformation, support collaborative innovation, and drive efficiency. Thier data and analytical platforms help financial institutions drive customer insight, integrate risk and finance, fight financial crime, and comply with regulations.
JMR Infotech (JMR) is a trusted technology product and services provider working with business leaders across the globe to build robust, agile, and adaptive enterprises. Led by an experienced management team, 200+ satisfied customers, and over 600 consultants with Oracle Banking expertise, JMR is the partner of choice for progressive organizations, which consistently deliver added business value to their clientele.