Hampden & Co, a new UK private bank scheduled to open in the first quarter of 2015, has chosen Oracle FLEXCUBE on which to operate its digital banking platform.
Using Oracle Managed Cloud Services with Oracle FLEXCUBE will enable Hampden & Co. to deliver enhanced, personalised products and services by aggregating and managing data from multiple sources in order to better understand customer requirements.
Additionally, having Oracle experts manage Hampden & Co’s cloud-based IT infrastructure will allow the bank to focus business resources on innovation, while operating at peak efficiency.
Graeme Hartop, CEO, Hampden & Co. said: "Increasingly, private banks are focusing on wealth management rather than core banking, a gap in the market which we seek to address with the help of Oracle. We view delivery of outstanding client service as a priority, which in today’s world needs to be supported by the best technological core banking platform available."
Hampden & Co. Selected Oracle FLEXCUBE to manage its core banking, direct and mobile banking operations from a shortlist of three potential solutions. Hampden & Co. will benefit from significantly lower operational costs by running Oracle FLEXCUBE via Oracle’s UK data center based in Linlithgow, Scotland.
Senthil Kumar, vice president, business development, Oracle Financial Sevice, said: "Hampden & Co. joins the Oracle family as the first UK bank to leverage core business cloud applications delivered from Oracle’s UK cloud facilities."
"The leadership team at Hampden & Co. have done a remarkable job in completing their mobilization phase on time and readying the bank for business. We are pleased to be serving this new UK private bank that has placed Oracle at heart of its business model."