All Banca Transilvania's operations, shifted to Oracle system, in the wake of 15m-euro investment

Banca Transilvania, the fourth largest bank on the domestic market in terms of assets, is set to invest 15m euros in an Oracle technology, due to support the bank's entire activity, from retail to Internet banking. This is one of the biggest investments operated by a bank in an IT system.

According to Leontin Toderici, COO with Banca Transilvania, the investment will be amortised in three years. He added the application could support an operations increase by tens of percentage points per year in profitability conditions. The implementation of the new IT system, Flexcube Universal Banking, will take as much as 18 months, with the entire investment to be completed in 2012.
Banca Transilvania, with 1.5 million active clients, is the first in Romania to implement such an IT platform, with previous editions of the software platforms being currently used on the domestic market by Alpha Bank, Citibank or Bancpost.
BT for this year has an IT budget of 15m euros, 5m euros higher than last year's. The bank's IT team is made up of almost 100 people, according to Toderici.