COFINA Banks on Oracle to Get Loans to Underserved Businesses Faster

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COFINA, an African financial organization established in Côte d’Ivoire and majority controlled by Compagnie Transnationale D’Investissement (C.T.I. ), has enlisted Oracle Financial Services to improve its banking systems. COFINA focuses on mesofinance, a relatively new concept that provides tiny loans for small and mid-sized businesses starting at 1,000 Euros (SMEs).

COFINA will deliver next-generation digital capabilities to the businesses it serves, such as quick loans and a consistent banking experience, with the Oracle Banking portfolio. The move of Cofina Côte D’Ivoire, one of COFINA’s nine mesofinance subsidiaries, will be the first step.

“We selected Oracle Financial Services to help transform our operations and services. Building a successful digital bank requires a platform that can run efficiently while evolving with changes in the market and alongside organizational needs. As a first step, Oracle Banking solutions will provide Cofina Côte D’Ivoire the foundation needed to provide and adapt to consumers’ desired digital client experiences,”

said Adiline Haykal, Group Director strategic projects, COFINA.

Oracle Banking technologies will be used by COFINA, including Oracle FLEXCUBE Universal Banking as its digital core, Oracle Banking Digital Experience, and Oracle Banking Payment Hub, to name a few.

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