KBZ Bank Digitizes for Innovation and Scale with Oracle – Oracle

Kanbawza Bank (KBZ), the largest privately-owned bank in Myanmar, continues to modernize its banking operations with Oracle. By upgrading to the latest versions of Oracle FLEXCUBE Universal Banking and Oracle Banking Payments, KBZ has been able to rapidly scale its business to deliver new services to market while increasing efficiency and lowering cost. This includes processing 15 million transactions a month and completing its end-of-day processing cycles under 90 minutes. KBZ will also use these new solutions to accelerate its Financial Inclusion initiative in Myanmar.

KBZ is leading the way for Myanmars rapidly developing financial services sector. Currently, 80 percent of our traffic from our 14 million customers is digital, said U Sai Lu Mon Aung, MD of KBZ Bank. To continue this trajectory, we rely on critical technology partners like Oracle. With FLEXCUBE and Oracle Banking Payments, we have the foundation and capabilities we need to provide our nations entrepreneurs, businesses, and communities with financially inclusive and innovative next-generation banking services today and well into the future.

Oracle FLEXCUBE has enabled KBZ to innovate and launch new services to its customers in a matter of days. For example, the bank was able to quickly activate a new account origination process and onboard customers directly from an application on their mobile device. Oracle FLEXCUBE also underpins the banks corporate offerings that automate trade and corporate banking operations.

Similarly, KBZ was able to plug-in Oracle Banking Payments as a new component in its core banking architecture. Built on an ISO20022 framework, Oracle Banking Payments helps KBZ automate its payment processes and thereby optimize infrastructure costs, improve straight through processing, and support real-time payment settlements.

KBZ Bank is a leader in digital banking, and we are proud to continue to support its rapid growth in the region and beyond, said Venkatesh Srinivasan, senior vice president of global banking and insurance, Oracle Financial Services. Our leading banking platform is anchored on a microservices architecture, designed for rapid innovation and scale, and covers one of the broadest sets of functional capabilities. With our solutions, KBZ can rapidly scale in terms of its volume of accounts and transactions and has the agility it needs to quickly deliver innovative new services that capitalize on new market opportunities and changing consumer and corporate customer expectations.

Oracles API first architecture has also enabled KBZ to connect to a greater number of merchants to deliver additional services to customers. These APIs are the backbone for KBZs digital led growth and transforming it to a digital first bank. This API strategy has also been instrumental in helping KBZ support financial inclusion by making it easy for customers to be onboarded digitally.

In addition, the solutions have supported KBZ in re-imagining its assisted experiences by leveraging Oracles persona centric branch capabilities and laid the foundation for frictionless customer verification at branches in the future.

KBZ also uses Oracle Financial Crime and Compliance solutions to detect unlawful activity, increase its confidence in the security and reliability of its transactions, and comply with international standards. With streamlined analysis, resolution, and reporting, KBZ has eliminated 50-60 percent of its previously manual detection processes.

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KBZ Bank Digitizes for Innovation and Scale with Oracle - Oracle

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