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September 25, 2008

CSC to host Oracle Flexcube solution for mid-tier banks in North America

IT services provider CSC will offer Oracle Flexcube core banking solution on a managed hosting basis to mid-tier banks in North America.

By CBR Staff Writer

The new offering leverages Oracle’s financial services software assets and CSC’s managed hosting operational capabilities to provide mid-tier banks, initially in North America, with economical access to a modern and comprehensive, core banking solution with both retail and commercial banking functionality, said CSC.

CSC claims that the hosted deployment model offers a total cost of ownership advantage without the costs associated with a traditional in-house implementation. The new offering also provides an opportunity for banks to replace legacy core banking systems that are expensive and inflexible with a secure hosted solution managed by CSC.

R Ravisankar, vice chairman of Oracle Financial Services and group vice president of Oracle FSGBU, said: CSC is one of the few leading information technology providers to focus specifically on managed hosting services as a core line of business. Banks demand secure, highly available environments with 100% reliability, and we are pleased to tap CSC’s proven hosting capabilities to offer banks a new delivery option for Flexcube.

Jim Cook, president of financial services sector at CSC, said: CSC has joined forces with Oracle again to empower banks by offering them a core processing platform on a hosted basis. Together, we are providing an affordable, leading-edge alternative for mid-tier banks, enabling them to better compete in a crowded global marketplace.

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