Oracle Financial Services Software Ltd.

Bank Muanialat, the primary Islamic Bank in Indonesia, has selected Oracle Financial Services Software's Oracle Flexcube Universal Banking to streamline its core business processes ensuring productivity and agile business practice for Shariah Banking. By utilizing the scalable Service Oriented Architecture, Bank Muamalat plans to expand its business significantly and manage future growth in a competitive environment.

Bank Muamalat is the first commercial bank in Indonesia to implement Islamic Banking principles in running the operation in Indonesia with more than 3 million customers and 380 offices across 33 provinces in the country and recently be the one and only Indonesian bank operating full branch in Malaysia.

The bank chose Oracle FLEXCUBE Universal Banking because of its proven success in adapting to meet regional banking demands and supporting Islamic banking business models.

Oracle Flexcube Universal Banking will standardize and automate business processes to generate consistent and reliable turnaround of transactions and customer service requests and with automated processing in place, Bank Muamalat expects to experience substantial improvements in operational efficiency.

The new system will allow the bank to provide innovative products to its customers and meet the growing market demands, and use enhanced customer insight and simulations to deliver excellent customer service.