Allied Irish Bank deploys Oracle Flexcube for SEPA credit transfer
Oracle Financial Services Software, a majority owned subsidiary of
Oracle has announced that the largest commercial bank in Ireland,
Allied Irish Bank, has gone live with a SEPA credit transfer service
using Oracle Flexcube universal banking and Oracle Flexcube messaging
hub.
The
implementation enables the bank to provide SEPA payment processing for
both retail and corporate accounts in the United Kingdom and in the
Republic of Ireland. Both Oracle Flexcube universal banking and Oracle
Flexcube messaging hub have been awarded SWIFTReady labels in 2008.
Over
four million customers will benefit from the implementation through
faster settlement of payments, reduced transaction charges and improved
customer service. The implementation will help improve efficiency and
lower transaction processing costs at Allied Irish Bank. In addition,
it will provide a unified messaging framework to consolidate financial
messaging including support for SEPA direct debit service in the next
phase of the rollout. Allied Irish Bank rolled out Oracle Flexcube
universal banking to support its operations in Great Britain and the
Republic of Ireland in 2007.
The company made this announcement during the trading hours today, 16 September 2008.
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