Banca Transilvania, the fourth largest bank on the domesticmarket in terms of assets, is set to invest 15m euros in an Oracletechnology, due to support the bank's entire activity, from retailto Internet banking. This is one of the biggest investmentsoperated by a bank in an IT system.
According to Leontin Toderici, COO with Banca Transilvania, theinvestment will be amortised in three years. He added theapplication could support an operations increase by tens ofpercentage points per year in profitability conditions. Theimplementation of the new IT system, Flexcube Universal Banking,will take as much as 18 months, with the entire investment to becompleted in 2012.
Banca Transilvania, with 1.5 million active clients, is the firstin Romania to implement such an IT platform, with previous editionsof the software platforms being currently used on the domesticmarket by Alpha Bank, Citibank or Bancpost.
BT for this year has an IT budget of 15m euros, 5m euros higherthan last year's. The bank's IT team is made up of almost 100people, according to Toderici.
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