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Oracle strikes deal with Slovenia’s SID Bank for core banking and payments technology | Fintech InShorts: Latest fintech news, analysis by experts

Oracle strikes deal with Slovenia’s SID Bank for core banking and payments technology

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Oracle strikes deal with Slovenia’s SID Bank for core banking and payments technology

January 28, 2024

Oracle’s Flexcube in Slovenia
- SID Bank, based in Ljubljana, Slovenia, became the first in the country to adopt Oracle’s Flexcube core banking solution.
- SID Bank operates as a promotional development bank and export credit agency, supporting Slovenia’s international business competitiveness.
Broad Deal with Oracle
- SID Bank signs a comprehensive deal with Oracle, encompassing core banking, payments, trade finance, treasury, and corporate lending applications.
Financial Landscape
- Oracle’s banking technology has gained traction globally, with recent adoptions by FDB Bank in Myanmar, London Stock Exchange Group (LSEG) in the UK, and CSB Bank in India.
SID Bank’s Strategic Moves
- SID Bank’s partnership with Oracle aligns with its broader efforts to enhance Slovenia’s international business competitiveness.
- The bank’s recent activities include becoming an implementing partner for EU centralized financial instruments and securing financing deals with the European Investment Fund and German development bank KfW.

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