Bandhan Bank Revamps Core Banking and Boosts Digital Offerings with Oracle

Bandhan Bank Enhances Core Banking and Digital Services in Collaboration with Oracle Bandhan Bank, a leading private bank in India, has upgraded its core banking system and expanded digital offerings through a strategic partnership with Oracle. By utilizing Oracle FLEXCUBE and Oracle Banking Digital Experience, the bank has modernized operations in retail and wholesale banking, introducing new digital capabilities such as Oracle Payments and retail loan originations. This initiative aims to cater to millions of customers, particularly focusing on underserved segments of Indian society.

Originally established as a not-for-profit institution providing micro-loans to underprivileged sections, Bandhan Bank has evolved into one of India’s fastest-growing private banks. With a customer base of nearly 32 million and a network of over 6,250 banking outlets across 35 states and union territories, the bank sought to revamp its systems to keep pace with its expansion.

The transformation, completed within two years, involved replacing legacy systems with Oracle’s advanced banking technology. This has significantly improved operational efficiency and customer experiences across various banking verticals, including general banking, housing finance, and microcredit.

For instance, Oracle’s mid-office loan workflow system has streamlined loan origination processes, resulting in faster disbursement of small business loans. Compliance has also been enhanced, ensuring comprehensive adherence to regulatory requirements.

Furthermore, the implementation of Oracle’s digital banking services enables Bandhan Bank to offer a seamless omnichannel experience to its customers, facilitating transactions online or in-person. The bank plans to launch its own credit card, leveraging Oracle’s technology to enhance customer engagement and operational agility.

According to Sonny Singh, Executive Vice President and General Manager at Oracle Financial Services, this collaboration will enable Bandhan Bank to accelerate its growth and continue its mission of financial inclusion in India.