Wegagen Bank has introduced a new core banking system called Oracle Flex Cube which is aimed at significantly transforming its operational performance and customer service delivery to the highest level of efficiency.
This core banking system has been successfully implemented in all the 285 Branches and forex bureaus of the Bank since January 1, 2018. In an event organized to celebrate the successful implementation of the core banking system on January 16, 2018 Bank President Ato Araya G/Egziabher said that the new Core Banking system would bring about a dramatic improvement in the operational performance and service delivery efficiency of the Bank. He also called on all districts to utilize the full capacity of the technology and raise the performance and standard of service delivery in the Bank.
Wegagen Bank’s CIO and Project Leader Ato Alexander G/Egziabher said that the new Oracle Core Banking System project was completed within the schedule and budget which is quite a remarkable accomplishment in the Banking industry in the country so far, given the scope and the complex nature of the project.
He said that the data migration from the previous Core Banking to the latest version of 12.1 Oracle Flex Cube Core Banking System was conducted in 260 Branches and forex bureaus in a space of two days with unmatched effectiveness that has not also been experienced in the industry so far. The CIO lauded the extraordinary commitment of the project team members who were working late hours including on Sundays and holidays to finalize the project timely.
At every milestone of the project, the Bank has given recognition to the tireless effort of the team members which made the project a success. The project has involved around 50 full time and 30 on call basis Bank staff drawn from the IT and Operational units of the Bank.