Regional Development Bank Accelerates Digital Impact with Oracle Cloud
Augmented analytics and conversational AI will bring new customer insight, helping the bank deepen relationship and trust with its customer base
Colombo, Sri Lanka:10 August 2020: Regional Development Bank (RDB), the only 100% state-owned development bank in Sri Lanka, has gone live on Oracle Cloud Infrastructure This enables the bank to accelerate its digital presence across the country, and provide innovative and simple financial solutions to its customer base, which represents lower- and middle-income segments of Sri Lanka. The move comes as part of the bank’s broader technology investment, focused on supporting its digital transformation and enhancing customer service.
“Our business and customer needs are evolving. To meet these needs, it is critical that we fast-track our digital transformation to meet the increasing demand for accessible and affordable credit facilities from the rural masses of the country,” said T. Kuhan, Chief Executive Officer, Regional Development Bank. “To do this, we needed a more efficient way to serve our customer base, support business continuity, and stay resilient during these challenging times. Oracle Cloud Infrastructure has supported our journey.”
The successful deployment of Oracle Analytics Cloud, deployed on top of Oracle Autonomous Data Warehouse, is helping the bank analyze ATM (Automated Teller Machines) transactions, downtime, and cash management. The combined offering enables the bank to manage its rapidly increasing amounts of data from multiple sources and produce actionable insights in a highly visual and easy to understand form in minutes. This helps the management at RDB extract value-added information focused on improving the customer experience and usage of its ATM network across the country.
RDB has also deployed Oracle Cloud Infrastructure to provide a reliable, scalable, and highly secure platform to support its customized Digital Assistant software, helping it meet the rapidly increasing volumes of queries from its customers.
“Banks, like all businesses, need to be customer-focused so they can provide the products, services, and experiences that help build trust and keep them engaged. For RDB, being able to see which ATMs are working, what customers are using them for, and also being able to quickly provide answers to questions, are critical to achieving their business goals,” said Maria Dzhanan, Vice President at Oracle Digital, JAPAC. “In addition, by harnessing intelligent automation solutions like digital assistant brings the bank significant productivity and efficiency benefits, which can help free up key staff to focus on more important queries that need in-person support.”
MillenniumIT ESP, a Platinum Level member of Oracle PartnerNetwork (OPN), implemented the project for Regional Development Bank.
About the Regional Development Bank
The only 100% state-owned development bank, Regional Development Bank was set up to improve the living standards of the rural masses by providing them accessible and affordable credit facilities that in turn would contribute to strengthening the rural economy. Originally based on the “barefoot banking concept,” the bank strives to provide innovative yet simple financial services to those at the middle and bottom of the income pyramid.
About Oracle
The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain, and Manufacturing, plus Highly Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.
Trademarks
Oracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
