Siinqee Bank signs for new banking tech from Oracle FS

Ethiopia-based Siinqee Bank has signed for the Flexcube core banking system from Oracle FS.

Oracle signs new core banking tech client in Ethiopia, Siinqee Bank

The new technology will cover the bank’s conventional and Islamic banking operations, and will be implemented by the software vendor’s partner, JMR Infotech. JMR’s local partner, IE Network Solutions, will also participate in the project delivery.

Flexcube will replace the legacy OmniEnterprise solution supplied by Infrasoft, FinTech Futures understands, which was implemented over a decade ago.

It is understood Oracle FS’s rival, Temenos, was in the final for this deal.

Oromia Credit and Saving Share Company became Siinqee Bank earlier this year, having received a banking licence from the National Bank of Ethiopia.