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For the First Time in Jordan and the Middle East INVESTBANK

Mon, 07/25/2011

Amman, Jordan – July  2011 – INVESTBANK’s aspirations to support operational efficiency ease of processing and innovation through products and services provided by INVESTBANK in Jordan led to the recent adoption and successful implementation of Oracle’s FLEXCUBE system in Arabic.

It is considered the first of its application using Arabic in the Middle East and Jordan and works in parallel with the English language.

The system is highly flexible enabling it to meet INVESTBANK’s growth plans in a competitive environment, and allowing the bank to deploy new products and services to the market quickly, thereby enhancing the banking services offered by the bank to its clients.

Contract s between INVESTBANK and Oracle were signed on March 31, 2008 and this successful implementation was live by November 30, 2010.

Bisher Jardaneh, Chairman of INVESTBANK, said:  “We at INVESTBANK always strive to provide the best services to our clients and ensure that our new core banking system will grow and evolve with us.   The application of the new system rectifies the limitations of our past, which did not provide us with some functions that we required, and promises to provide new and innovative solutions in the future.

The implementation of the FLEXCUBE system in Arabic with English will make the training process easier for the bank.”

He added, “I would like to thank the team who has worked on this project in terms of development and implementation, for their high efficiency and for their constructive efforts.”

Mustafa Moonim, vice president, Eastern Europe and Middle East, Oracle Corporation from Oracle, said:  “We are excited to see the successful go-live of FLEXCUBE – our first in Jordan, and the first of our Arabic language application in the Middle East.  We pride ourselves on being able to support the specific needs of our customers, and ensuring we can serve their local requirements is a key aspect of this service. Through using a standardised solution such as Oracle’s FLEXCUBE, INVESTBANK, Jordan will be able to lower its TCO, and tailor the technology to suit its changing needs over time.“