Two small finance banks and one payments bank have opted for Oracle’s Flexcube core banking solution. The small finance banks are those promoted by Janalakshmi Financial Services and Equitas while the payments bank is the one promoted by NSDL. Stating this, Chet Kamat, chief executive, Oracle Financial Services said Flexcube is already being used by two top banks in the country, HDFC Bank and YES Bank. Kamat also felt that CBS are not acquiring the status of a platform rather than a product. He said Oracle has redesigned solutions by reviewing core banking in its entirety rather than adding layers to existing capability. The company is cannibalizing its own offering based on what its customers may need going forward. The focus has shifted to getting a holistic view of the customer, which is scattered across channels. A change in the profile of the customer is requiring that banks engage with the customer differently, he added.
