Bushra Business Bank, Profinch Solutions To Provide Digital Banking Services In Somalia

Bushra Business Bank, a leading commercial bank offering conventional and Islamic banking services in Somalia, has selected Profinch Solutions as a strategic partner for licensing and implementing Oracle Financial Services Suite of products and hardware services.

Bushra Business Bank wanted to adopt new technologies to meet its customers changing demands.  With a vision to provide world-class financial solutions, the bank decided to invest in new technologies to accelerate its growth and further strengthen its position in the market.

Amrit Biswas, Head of Business – MEACIS, Profinch told IBS intelligence “It’s a pleasure to have Profinch associated with the likes of Bushra Business Bank. Bushra has quickly emerged to be a leading bank in the Somali landscape. We look forward to a long-lasting relationship with the bank and are committed to meeting their short and long-term technology objectives.”

The discussions commenced with the exploration of core and digital initiatives with Oracle, in which Profinch led the conversations. The bank evaluated multiple core banking products from competing vendors and decided to choose Profinch Solutions as its strategic partner.

Under the partnership, Profinch Solutions will assist the bank in the licensing and implementation services of Oracle FLEXCUBE Universal Banking, Oracle Banking Digital Experience (OBDX), Oracle Technology Software, Oracle Cloud Infrastructure (OCI). The firm will also manage hardware provisioning, commissioning, installation & implementation services.

“We are excited about this strategic collaboration. Profinch comes with a proven experience of seamless and efficient implementations on stringent deadlines, with global and greenfield banks alike. Profinch’s success in the African territories is a testimony in itself, and we look forward to a long-lasting association with them,” said Mr. Suleiman Dualeh, CEO, Bushra Business Bank.

Profinch is a technology company offering solutions that enable financial institutions to transform how they work and be future-ready. The solutions include consulting services for the advancement of core operations and processes, and off-the-shelf products for 360-degree digitization and data transformation. With offices in India, UAE, and Singapore, the company serves over 95 financial institutions across 40+ countries.