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TECU Deploys Oracle FLEXCUBE Universal Banking

By Carolyn J Dawson
TMCnet Contributor

TECU Credit Union Co-operative Society Limited, a Caribbean credit union company operating for more than 60 years in Trinidad and Tobago, has deployed Oracle (News - Alert) FLEXCUBE Universal Banking.

With Oracle FLEXCUBE, the credit union has replaced its custom-built legacy core credit union solution and standardized on industry best practices to help it improve and expand service to its more than 30,000 members, adapt rapidly to changing market and regulatory requirements, increase operational internal controls, efficiency and IT security.

Oracle FLEXCUBE provides TECU with a single view of its members and the services, gives the credit union the visibility, agility to quickly launch new products and services.

With Oracle FLEXCUBE, TECU not only overcomes the defects of its legacy systems, including batch processing and limited audit trails, but also improves efficiency through business process automation.

TECU has implemented role-based access management which meets their internal control requirements and security guidelines with the help of Oracle FLEXCUBE. TECU's implementation runs on Oracle Database.

According to Ian Haynes, President, TECU Credit Union Co-operative Society Limited, at TECU, our mission is to provide products that satisfy our members' needs and deliver quality service that exceeds their expectations while promoting efficiency and generating excellent returns. Ian said that Oracle FLEXCUBE has given them a foundation along with the visibility and agility required to improve on all of those objectives. Ian added that the financial institutions of all types, including credit unions like TECU, continue to explore ways to improve customer or member satisfaction, increase efficiency and streamline compliance.

George Thomas, Vice President, Fulfillment, Oracle Financial Services said that Oracle FLEXCUBE Universal Banking provides the improved visibility, efficiency and flexibility they require to meet these goals and compete profitably in today's financial services market.

Oracle Financial Services Software Limited (Oracle Financial Services Software) is a majority owned subsidiary of Oracle. Oracle has broadened its offerings for the financial services industry. Oracle is strongly committed to the global financial services industry. To help financial institutions, Oracle has brought together the industry's best application and technology ecosystem for evolutionary transformation, providing customers with the largest footprint of functional assets. Oracle is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, visit oracle.com.