Oracle Which Can Lead To Small Loan Enterprise Development in Asia For More Inclusion of Bank Enterprises

SATHAPANA Limited Myanmar, a Microfinance Institution that has grown rapidly within a short period of time has replaced its official central banking system with Oracle FLEXCUBE. During the COVID -19 pandemic, SATHAPANA opened over (50) sub-departments within (6) weeks in order to make services for (350,000) customers throughout the world. SATHAPANA chose First Myanmar Solution Company Limited and FLEXCUBE which was implemented by Oracle Technology and Network infrastructure to help unifying regional inclusive digital strategies and activities.

Myanmar has been one of the fastest-growing GDPs in Asia since opening up its economy in 2000. During the past 9 years, Oracle has been working to streamline the operations of its new generations of financial institutions in Myanmar and to provide customers from FLEXCUBE more effective experiences. Oracle has also worked closely with (6) top local banks in order to upgrade banking services. Photo Source https://www.oracle.com/industries/financial-services/banking/flexcube-universal-banking/

Mr. Seang Serey, Chief Executive Officer from SATHAPANA said that “He chose Oracle as it is prestigious in the Asia market and he chose it based on his experiences as a customer of Oracle.” In accord with the promise we have given, it is closely linked to Oracle FLEXCUBE’s customer-centric approach to help those who do not yet have access to loans and secure deposits.

SATHAPANA will be able to distribute its products and services to its customers faster and develop its performance at the same time due to the scalability of FLEXCUBE. Through this platform, organizations can manage loans, deposits, and information-related property in real-time.

“Oracle is able to provide microfinance institutions like SATHAPANA and social communities which have not previously accessed banking services with a small business loan and group loans,” said Venky Srinivasan, Group Vice President, APJ & MEA sales, Oracle Financial Services. He added that “SATHAPANA helps the rehabilitation of Myanmar in one way or another by providing loans to people. SATHAPANA can describe its traditional banking needs and microfinance requirements and may be ready to expand it in the future with the help of Oracle FLEXCUBE. Photo Source https://www.oracle.com/industries/financial-services/banking/flexcube-universal-banking/

Mr. Seang Serey said that “SATHAPANA has selected First Myanmar which has experienced many years in the regional financial sector in order to provide and implement data center and network infrastructure.

SATHAPANA is a subsidiary company of MARUHAN Investment Asia, a subsidiary of Financial Holding in Singapore. And it has also used FLEXCUBE to assist with digital marketing and to fulfill management reporting requirements. Moreover, it has used other Oracle technologies, including the Oracle Database.

Visit the following link for more information.

https://www.oracle.com/industries/financial-services/banking/flexcube-universal-banking/